The White House criticized ExxonMobil on Tuesday for reaping record profits in 2022.

 The White House criticized ExxonMobil on Tuesday for reaping record profits in 2022.

The White House criticized ExxonMobil on Tuesday for reaping record profits in 2022. The U.S. energy giant benefitted from global factors that caused a spike in gas prices last year.  ExxonMobil reported an annual profit of $55.7B for 2022, surpassing its previous record of $45B in 2008. The White House called ExxonMobil's profits "outrageous" in a statement on Tuesday. The Biden administration has previously criticized oil companies for failing to increase supply last year, which would have helped mitigate the spike in gas prices. "The latest earnings reports make clear that oil companies have everything they need, including record profits," said White House spokesman Abdullah Hasan, who accused oil firms of choosing to "plow those profits into padding the pockets of executives and shareholders."  ExxonMobil CEO Darren Woods said the White House needs to "get its facts straight," and cited the company's ongoing investments in oil and gas projects despite pressure to pivot toward renewable energy. Oil companies drew in large profits from the spike in oil prices that contributed to cost-of-living pressures last year. ExxonMobil has opposed U.S. proposals to follow some EU countries and the U.K. in imposing "windfall taxes" on the profits generated by oil companies last year.