WASHINGTON, DC – Today, Marathon Oil formally reported its profits from the fourth quarter of last year, taking in a jaw-dropping $3.6 billion in profit in 2022. The Big Oil giant’s 2022 profits mark a 282% increase when compared to the previous year. While Big Oil profited massively in 2022, American consumers were overburdened with historically high gas prices at the pump. 

As Marathon Oil enjoyed historically high-profit margins last year, their fourth-quarter earnings call revealed that they had spent $3 billion in 2022 on stock buybacks and dividends, further enriching their wealthy shareholders.

In 2022, modern-day oil barons like Marathon waged an unrelenting war on American consumers, ruthlessly price gouging working and middle-class people at the pump. Their greed didn't stop there, like other Big Oil giants, the company plans to give at least $1.8 billion to their rich shareholders. Now, industry executives are leaning on their GOP allies in congress to deflect blame, evade accountability and pass industry-friendly permitting reform so they can exploit the peoples land for their own private gain.”

Jordan Schreiber, Director of Energy and Environment at Accountable.US.

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