Oil Giants Chevron and Exxon Reap Record Profits Amid Heatwaves and Household Squeeze

Oil giants Exxon and Chevron are expected to report record-level quarterly profits as households struggle with extreme heat and rising living costs. Analysts forecast that Exxon alone will make over $15 billion in adjusted profit, nearly tripling its first-quarter earnings.

In contrast, communities across the globe face devastating wildfires, record-breaking heatwaves, and skyrocketing household expenses. Over 300,000 people had to evacuate due to wildfires in Spain and France while Canada battles nearly 900 active wildfires.

June 2026 was France's hottest June on record, averaging 3.8°C above normal, with scientists finding that the heatwave would have been virtually impossible without human-caused warming. Western Europe's spring soil drought was made around five times more likely.