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Big Oil set for record profit as world reels from high fuel cost – by Kevin Crowley, Laura Hurst and Francois de Beaupuy (Bloomberg News – July 26, 2022) Big Oil is poised for a record-breaking US$50 billion profit in the second quarter, but the industry’s stellar performance could contain the seeds of its own decline. The soaring earnings are direct result of the high energy prices that have stoked inflation, piled pressure on consumers, raised the risk of recession and prompted calls …

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