Quote:
Originally Posted by MrLonzo
I watch Fox News a lot and generally respect the views of some of the hosts like Tucker Carlson or Jesse Watters. They rail against the ‘fake news’, yet almost daily condemn Pfizer as a money grubbing big bad pharmaceutical company making record profits on the back of the COVID emergency. A fake narrative!
I’ve been a Pfizer shareholder for many years. The company’s net profit in 2021, 2 years into COVID, was about the same as it was in 2017, 2 years before COVID! Their stock price today is about what it was at the end of 2018, a year before any thought of a COVID vaccine.
So where does this impression of ‘record profits’ come from? And why does the media keep portraying Pfizer as the ‘enemy’? A lot of people would be dead if all the drug companies disappeared!
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Is Fox also railing against the profits oil companies made in 2022 since some of the evening opinion hosts blamed the Biden administration for high gas prices?
Five major oil companies have reported their 2022 profits, smashing last year’s highs:
Exxon: $55.7 billion — setting a company record and bringing in $6.3 million an hour
Chevron: $36.5 billion – doubling their 2021 profits, with executives touting their “outstanding results” in an earnings call
Marathon: $14.5 billion — Q4 profit of $3.32 billion surged 331% from previous year
Valero: $11.6 billion – 866% higher than the previous year
Phillips 66: $11 billion — Q4 profit of $1.9 billion up 46% over Q4 2021