00:10Welcome back. Amidst the fierce conflict involving Iran, U.S. oil companies reported massive profits for the second quarter of
00:17this year, even as millions of U.S. families grapple with a severe economic crisis and say they can no
00:23longer cope with the country's high cost of living.
00:26Our New York correspondent, Henry Camelo, has the food story.
00:33United States are living on the streets with little hub of escape and millions of wars struggle to make ends
00:41meet.
00:42Mayor oil companies continue to pose huge profits driven by the conflict involving Iran, which has sent fuel prices soaring.
00:52According to data released by the oil companies themselves, ExxonMobil doubled its second quarter profits, reaching $14 billion during that
01:03period, a 42% increase in earnings.
01:07Meanwhile, Chevron nearly quadrupled its profits, posting $12 billion in earnings for the same period, a 56% increase in
01:18net income.
01:19For consumers like Rick, learning that oil companies are getting richer at the American expenses is simply outrageous.
01:29This is terrible. It's not good for the people. It's not fair. You know, people are struggling. I'm a homeowner.
01:36I'm a father. And everything is going up.
01:38I'm also a small business owner. And, you know, it's terrible for people like me trying to make it out
01:42there.
01:42I think I'm paying more and more. Yeah, definitely more than before after the Iran war.
01:46As we have seen, every time that there's that that risk of increasing the war or deepening the war in
01:57the Middle East comes up, there's usually a spike in the oil price.
02:01And with that, you have margins by these oil companies even larger.
02:08The important element of this for the U.S. consumer is that as fast as the oil prices spike or
02:18let's say the following day or the following week,
02:22Donald Trump announces that there's going to be a truce and then the oil prices at the international level are
02:28reduced, that does not translate to the gas pump.
02:33In New York City, gasoline prices are currently above $4 per gallon. And at some service stations, they exceed $5.
02:42Similar prices are being recorded across the rest of the country, according to data from AAA.
02:48The oil companies are still producing the same amount of oil.
02:55They are transporting less just because of the difficulties that they're having in the Strait of Hormuz.
03:02Those elements of risk are the ones that are increasing.
03:06At the end of the day, the oil companies will not hit that price or that cost.
03:11They are basically passing that cost to the to the consumer.
03:18If you look across the street, it's $5.99. Over here is $4.75. How can they charge so much
03:24of a big difference across the street?
03:26You can see the inflation and you can see the price gouging right there, right in front of your face.
03:32That's terrible.
03:33That's not good for Americans. That's not good for anybody.
03:35With inflation now exceeding 4%, thousands of jobs being lost each month, mortgage rates at 7%, and fuel prices steadily
03:46climbing, experts predict the United States will soon fall into an economic recession, even deeper than the one in 2007.
03:55Pablo Daniel Joe and Henry Camelo, Telesur, New York.
04:03Joe Daniel Joe.
04:03Scott Taylor.
04:03Mike Crosby.是호
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