US President Joe BidenEUROPA PRESS Oil companies made billions of dollars in profits this quarter, Biden recalled in a tweet on Saturday Congress would have to approve any additional tax on energy producers Oil companies made billions of dollars of benefits this quarter Biden will propose imposing a tax on extraordinary profits of oil companies, according to the newspaper ‘Financial Times’, citing official sources. The US president could make this announcement as soon as Monday in a scheduled speech to address the situation of fuel and US oil companies. Biden will make statements to respond to recent reports that major oil companies have made profits. record, and who have refused to help lower prices at gas stations for the American people. Oil companies made billions of dollars in profits this quarter, Biden recalled in a tweet on Saturday. According to the US president, “they are using these record profits to pay their wealthy shareholders instead of investing in production and reducing costs for Americans. It is unacceptable. It is time for these companies to lower prices at gas stations “.Oil companies made billions in profits this quarter. They’re using these record profits to pay out their wealthy shareholders instead of investing in production and lowering costs for Americans. It’s unacceptable. It’s time for these companies to bring down prices at the pump.—President Biden (@POTUS) October 30, 2022 Congress would have to pass any additional taxes on power producers, which would be a tall order in the current Congress, where Democrats have limited control of the House and Senate, and even less likely should Republicans regain control of one or both chambers on Nov. 8. Last week, Exxon Mobil broke record profits in the third quarter of the year, raking in $19.66 billion in net income, and Chevron had $11.23 billion in profit, matching the previous quarter’s record. Americans have endured sky-high gas prices for months, and pay on average more than $4.80 for a liter of fuel, according to the American Automobile Association (AAA).