Big Oil Is Raking in Billions From the Iran War

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Wall Street Journal: “Thanks to U.S. crude prices averaging $95 a barrel between March and June—up from about $66 before the Iran war—ExxonMobil, Chevron, ConocoPhillips and Occidental Petroleum are expected to collectively rake in some $31 billion in earnings for the second quarter of the year, according to FactSet estimates. That is up from about $12 billion for the same period last year.”“The cash bonanza is bound to fuel mounting tensions between the industry and its White House ally as the conflict in the Middle East expands and gasoline prices have risen past $4 a gallon.”