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Oil Giants Earn $26.5B as Gas Hits $4.1, Tax Demanded

7/31/2026

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Summary

Story summary

ExxonMobil and Chevron posted a combined $26.5 billion profit in Q2 2026.
A Harris poll found 95% of Americans say the United States faces an affordability crisis as gas averages $4.1 per gallon.
Democratic senators said the Iran war punishes consumers at the pump while boosting oil firms’ profits, prompting the Sierra Club to urge a windfall profits tax on wartime earnings.

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Story summary

ExxonMobil and Chevron posted a combined $26.5 billion profit in Q2 2026.
A Harris poll found 95% of Americans say the United States faces an affordability crisis as gas averages $4.1 per gallon.
Democratic senators said the Iran war punishes consumers at the pump while boosting oil firms’ profits, prompting the Sierra Club to urge a windfall profits tax on wartime earnings.