In 'Grotesque Billionaire Bonanza,' 41 Energy Tycoons Saw Fortunes Grow by $23.5 Billion Since Trump Launched Iran War

"While much of the world is holding out hope that the US-Israeli war against Iran may finally be reaching an end amid news of a ceasefire agreement, the billionaire owners of some of the world’s largest energy companies may not be so thrilled."

"A handful of just 41 energy industry barons in Group of Seven (G7) countries collectively increased their wealth by $23.5 billion since the war was launched in late February, according to a report released by Oxfam International on Monday, as the leaders of the world’s largest industrialized economies meet in France this week."

"The oil shocks resulting from the war have caused fuel prices to spike dramatically, rippling inflation throughout the global economy and straining the pocketbooks of ordinary people around the world. One April report by the United Nations Development Program projected that, as a result of the conflict, an additional 32 million people would be pushed into poverty by the end of the year."

"But between March 1 and May 18, owners of the largest oil and energy companies in Canada, France, Germany, Italy, Japan, the US, and the UK were adding $300 million on average per day to their collective wealth, Oxfam found through an analysis of Forbes’ Real-Time Billionaire List."

Continued at link:

https://www.commondreams.org/news/g7-billionaires-iran-profits