Oil and gas companies report $40 billion (and counting) in excess profits

Washington D.C.– In response to four major oil and gas companies raking in over $40 billion in excess profits in the second quarter of 2026, the League of Conservation Voters (LCV) released the following statement from Senior Federal Advocacy Campaigns Director Leah Donahey:

“Across the country, everyday people are being forced to make impossible decisions between putting food on the table and gas in the tank. Meanwhile, oil and gas CEOs are raking in their highest profits in years: over $40 billion and counting in just the last three months. This money is coming straight out of our pockets. Trump promised to cut energy bills in half in his first year office, but the average family has spent an additional $504 on gas just since April.

“Trump and congressional Republicans have the power to stop Big Oil from price gouging and return windfall profits to working families, as well as to bring down our costs by investing in cleaner, more affordable alternatives. Instead, they are canceling clean, affordable energy projects, rolling back fuel efficiency standards, making electric vehicles less accessible, and using billions of our taxpayer dollars to subsidize the very companies gouging us at the pump.

“We cannot let Big Oil continue to amass staggering profits at our expense. We urge Congress to pass the Big Oil Windfall Profits Tax to prioritize our families and communities over polluter profits.”

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