More than 50 large U.S. oil and gas companies earned over $130 billion in profit from April through September 2026, according to an estimate covering producers and refiners. That was far above their combined profit of less than $47 billion in the same months of 2025, though below the industry’s 2022 earnings peak. The gains came as the Iran war disrupted energy supplies and lifted oil and fuel prices. Meanwhile, U.S. households spent an estimated $147 billion more on gasoline and diesel since U.S. and Israeli strikes began in February - over $1,100 per household.
Refiners benefited especially strongly as damage to fuel-making plants in the Middle East and Russia reduced global capacity and drove up refining margins. Many U.S. refiners also rely on pipeline deliveries, avoiding steep shipping costs. Producers earned more from higher prices without operating in conflict zones, while Exxon Mobil and Chevron reported their strongest third-quarter results in years; Valero’s profit rose more than sixfold. Rather than rapidly expanding production or refining, many companies are paying down debt and holding cash, with executives saying investment plans remain unchanged. Valero said surplus cash would eventually go to shareholders through dividends or stock buybacks. European oil majors also reported sharply higher profits.
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Serbia’s newly elected parliament was described as the world’s brainiest based on the education and academic credentials of its members. The title focuses on the lawmakers’ qualifications rather than a formal measurement of intelligence. (science.org)
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Britain’s grid frequency fell to 49.657 Hz on June 23, 2026, amid a heatwave, widespread generator outages, and limited interconnections. French electricity imports helped avert blackouts, exposing risks from poorly timed maintenance and rooftop solar that grid operators cannot readily monitor. (hackaday.com)
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Federal Bureau of Prisons employees will join other Justice Department personnel as unarmed monitors at polling places during the 2026 general election. A DOJ filing disclosed the plan. (corrections1.com)
A French legislative proposal would tax digital content providers €0.055 for each gigabyte delivered to users in France. Supporters estimate it could raise €10 billion annually, with internet providers measuring traffic volume without inspecting data content. (resetera.com)
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