President Joe Biden on Friday chided the CEO of one of the world’s largest oil companies after he argued that the fossil fuel giant was providing relief to everyday Americans by using its surging profits to boost dividends for investors.
“Can’t believe I have to say this but giving profits to shareholders is not the same as bringing prices down for American families,” Biden wrote in a post on Twitter.
Biden was responding to remarks that Exxon Mobil Corp.’s CEO Darren Woods made during an earnings call after the company announced it raked in a stunning $19.66 billion in third-quarter profits — the most of any quarter in the company’s 152-year history.
“There has been discussion in the US about our industry returning some of our profits directly to the American…
