The Battle of the Bigs – Big Tech and Big Oil: ENERGYminute

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Combined annual net income of Big Tech and Big Oil companies

USD billions

Source: Refinitiv

There has been plenty of discussion about windfall profits for the oil and gas sector and, to be fair, times are pretty good in the patch.

• Last year, profits for the five largest non-state controlled oil and gas companies was over $150 billion – the highest in more than a decade.

Major oil producers cashed in on the current turmoil, including the conflict in Ukraine.

Not the only yachts in Monaco

If on the hunt for places to levy windfall taxes, Big Oil has nothing on Big Tech. While down slightly from 2021’s record, Amazon, Alphabet, Apple, Microsoft and Meta still had combined profits of more than $250 billion last year and have routinely earned more than Big Oil companies for most of the last decade

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