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The Massive Amount of Money Big Oil is Making

TheMotleyFool

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The Massive Amount of Money Big Oil is Making: https://g.foolcdn.com/editorial/images/707120/oil-rigs-on-land-at-sunset.jpg

Big oil companies are making more money than they know what to do with today. High oil prices have increased revenue and cutbacks in exploration have reduced costs. In the video below, Travis Hoium covers why the windfall profits will last for the foreseeable future and big oil has no incentive to drill for more oil.

*Stock prices used were end-of-day prices of Oct. 31, 2022. The video was published on November 1, 2022.

Source Fool.com

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