U.S. oil companies received another round of criticism on Friday from the White House after Chevron Corp announced its annual profit doubled for 2022.
The company posted a record $36.5 billion for the year and at the same time said it plans to triple spending on share repurchases, something that prompted a White House official to accuse oil companies of using profits to pay shareholders instead of increasing the nation’s oil supply reported Reuters.
Click here for Reuters
