Saudi Aramco, the state-owned oil company of Saudi Arabia, generated a staggering one hundred sixty-one billion dollars in net income in 2022, marking the highest annual profit ever recorded by a corporate entity.

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Saudi Aramco, the state-owned oil company of Saudi Arabia, generated a staggering one hundred sixty-one billion dollars in net income in 2022, marking the highest annual profit ever recorded by a corporate entity. This insane financial milestone was largely driven by surging global energy prices and geopolitical instability, directly profiting from the misery of global supply chain collapses and wartime sanctions. To put that into perspective, they were making roughly eighteen million dollars in pure profit every single hour of the day. While average citizens around the globe were furiously calculating whether they could afford to both heat their homes and buy groceries during the winter, a handful of wealthy oil executives were busy swimming in a Scrooge McDuck style vault of cash, politely reminding us that the global economy functions perfectly well as long as you are the one holding the monopoly on fossil fuels!