Big Oil Profits, We Pay: Tax Their Billions
Published . Updated .
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As a result of the illegal war on Iran, Canada’s oil giants are raking in billions they didn’t earn and don’t deserve. It’s time to stop war profiteering and return money back to Canadian families and communities.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+7.5% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- ITA iShares U.S. Aerospace & Defense ETF+1.2% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- EWC iShares MSCI Canada ETF+1.0% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”).
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron+2.9% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- OXY Occidental Petroleum+10.3% 18d
Occidental Petroleum (crude petroleum and natural gas): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +5.38% | +6.75% | base | -8.03% | -6.32% | -5.71% | -9.82% |
| XLE | +2.64% | +4.95% | base | -4.79% | -6.96% | -7.59% | -7.07% |
| BWET | +7.18% | +11.56% | base | -15.67% | -19.70% | -19.70% | -30.61% |
| ITA | -4.02% | -3.08% | base | -1.66% | -5.60% | -4.31% | -0.65% |
| EWC | +2.17% | +0.68% | base | +2.65% | -0.06% | -0.41% | +1.52% |
| XOM | +2.57% | +5.49% | base | -4.52% | -6.87% | -6.39% | -7.18% |
| CVX | +1.76% | +4.58% | base | -3.71% | -4.40% | -5.45% | -6.75% |
| OXY | +4.03% | +5.88% | base | -5.14% | -6.74% | -6.66% | -7.69% |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Big Oil Profits, We Pay: Tax Their Billions actionnetwork.org
Source: actionnetwork.org
Energy
| Company | When | Move | Status |
|---|---|---|---|
| BWET | that day | -15.67% | final price |
| BWET | the next day | -19.70% | final price |
| BWET | two days later | -19.70% | final price |
| BWET | three days later | -30.61% | final price |
| BWET | three days earlier | +11.56% | final price |
| BWET | five days earlier | +7.18% | final price |
| CVX | that day | -3.71% | final price |
| CVX | the next day | -4.40% | final price |
| CVX | two days later | -5.45% | final price |
| CVX | three days later | -6.75% | final price |
| CVX | three days earlier | +4.58% | final price |
| CVX | five days earlier | +1.76% | final price |
| EWC | that day | +2.65% | final price |
| EWC | the next day | -0.06% | final price |
| EWC | two days later | -0.41% | final price |
| EWC | three days later | +1.52% | final price |
| EWC | three days earlier | +0.68% | final price |
| EWC | five days earlier | +2.17% | final price |
| ITA | that day | -1.66% | final price |
| ITA | the next day | -5.60% | final price |
| ITA | two days later | -4.31% | final price |
| ITA | three days later | -0.65% | final price |
| ITA | three days earlier | -3.08% | final price |
| ITA | five days earlier | -4.02% | final price |
| OXY | that day | -5.14% | final price |
| OXY | the next day | -6.74% | final price |
| OXY | two days later | -6.66% | final price |
| OXY | three days later | -7.69% | final price |
| OXY | three days earlier | +5.88% | final price |
| OXY | five days earlier | +4.03% | final price |
| USO | that day | -8.03% | final price |
| USO | the next day | -6.32% | final price |
| USO | two days later | -5.71% | final price |
| USO | three days later | -9.82% | final price |
| USO | three days earlier | +6.75% | final price |
| USO | five days earlier | +5.38% | final price |
| XLE | that day | -4.79% | final price |
| XLE | the next day | -6.96% | final price |
| XLE | two days later | -7.59% | final price |
| XLE | three days later | -7.07% | final price |
| XLE | three days earlier | +4.95% | final price |
| XLE | five days earlier | +2.64% | final price |
| XOM | that day | -4.52% | final price |
| XOM | the next day | -6.87% | final price |
| XOM | two days later | -6.39% | final price |
| XOM | three days later | -7.18% | final price |
| XOM | three days earlier | +5.49% | final price |
| XOM | five days earlier | +2.57% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 21 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 65 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 21 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 42 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 63 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Occidental Petroleum (OXY), worth $100,001 - $250,000 on 21 Aug 2026. That is 75 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid “Big Oil Profits, We Pay: Tax Their Billions” looks
12 out of 100
“Big Oil Profits, We Pay: Tax Their Billions” scores 12 out of 100. The score uses 1 sources.