In 2022, Exxon Mobil and Chevron saw their combined earnings soar past $91 billion, sparking intense debate over energy costs. At the same time, US progressive lawmakers are heading to Uruguay to advocate for a diplomatic shift in the Western Hemisphere.
The $91 billion windfall of Exxon Mobil and Chevron
Exxon Mobil and Chevron generated more than $91 billion in combined earnings during 2022, a figure that has ignited intense scrutiny over energy pricing and corporate profits. As reported, Exxon Mobil alone recorded approximately $56 billion in earnings, a compaany record that eclipsed its previous high from 2008. Chevron contributed roughly $35.5 billion to this massive total.
The scale of these profits has drawn sharp criticism from consumer advocates like the nonprofit Public Citizen. The organization argues that these windfall revenues should be redirected toward reducing the financial burden on households facing high fuel and electricity costs. This tension highlights a broader struggle between energy companies, which attribute high profits to global market demand, and critics who point to corporate pricing decisions and shareholder returns.
A Montevideo summit to challenge the Monroe Doctrine legacy
The political landscape is shifting as progressive US legislators prepare for a Panamerican Congress in Montevideo, Uruguay . This gathering aims to promote regional cooperation and national sovereignty, directly challenging the historical influence of the Monroe Doctrine. First issued in 1823, the doctrine has long been a point of contention, with critics arguing it has been used to justify military interventions and regime changes in the Western Hemisphere.
In an effort to replace interventionism with diplomacy, these lawmakers are promoting the New Good Neighbor Act. inspired by Franklin D. Roosevelt’s earlier noninterventionist policies, this legislative framework seeks to prioritize mutual respect and political independence for Latin American and Caribbean nations. This movement represents a significant attempt to pivot US foreign policy away from what some participants call the "Donroe Doctrine."
Jayapal and García lead a progressive coalition to Uruguay
High-profile US representatives, including Pramila Jayapal of Washington and Jesús "Chuy" García of Illinois, are set to participate in the upcoming Uruguayan summit. They will be joined by other figures such as New Jersey congressional candidate Adam Hamawy and Democratic Socialists of America members Claire Valdez, Darializa Avila Chevalier, and Chris Rabb. The group intends to build a progressive coalition that emphasizes partnership over military pressure.
Will the New Good Neighbor Act overcome institutional resistance?
Despite the momentum behind the Panamerican Congress, several critical questions remain regarding the actual implementation of these progressive goals. It is currently unclear how the proposed New Good Neighbor Act would navigate a divided US Congress or if it could successfully curb the influence of established foreign policy traditions. Furthermore, the report does not specify if the proposed windfall profits tax has any viable path to becoming law to address the $91 billion in energy sector earnings.
The success of this diplomatic push also depends on the response from regional partners in North, Central, and South America. While the organizers emphasize solidarity, the extent to which these US-based activists can influence the broader geopolitical strategies of their Latin American counterparts remains unverified.
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