US oil giants Chevron and ExxonMobil forecast billions in profits as communities struggle with energy costs

350.org says oil companies cannot continue to reap the rewards of fossil fuels while households face rising energy bills and communities bear the costs of climate devastation.As communities across the world face devastating heat, droughts, wildfires and growing pressure on public services, US oil giants Chevron and ExxonMobil are among five major oil and gas companies expected to make around $53 billion in combined third-quarter profits.

The scale of these forecast profits comes as families and small businesses struggle with energy affordability, while governments face mounting costs from extreme weather and climate impacts. As the US approaches the midterm elections, energy affordability is a growing concern for households and communities. Across the country, debates over rising electricity demand, the expansion of data centres, and the continued reliance on expensive and polluting fossil fuels are bringing questions about who benefits from the energy system ,and who pays, into sharper focus.Candice Fortin, US Campaigns Manager, “As we head into the midterms, energy affordability is on everyone’s minds.

Families and small businesses want reliable electricity they can afford, and communities want a say in how their land, water and energy resources are used. Yet as people struggle with energy bills and the impacts of extreme weather, the biggest oil companies are forecast to make billions.“We need an energy system that puts people first. That means protecting households from losing access to essential electricity during extreme heat and cold, expanding affordable solar and wind power, and ensuring that new sources of electricity demand, including data centres, do not drive up bills or place additional pressure on communities.

It also means making sure oil and gas companies pay their fair share towards the costs of the crisis, rather than leaving the public to pick up the bill.”350.org says governments should make polluters pay through permanent levies on fossil fuel producers and taxes on exceptional profits, using the revenue to help energy-stressed households and accelerate the transition to affordable, clean energy.

The organisation is also calling for stronger protections for households facing disconnection or unaffordable electricity bills, greater access to rooftop and community solar, and transparent safeguards for data centre expansion. These should include requirements for genuinely new and additional renewable electricity supply around the clock, with benefits shared fairly with surrounding communities.