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re: Shell oil reports record profit
Posted on 5/6/22 at 7:16 pm to Macfly
Posted on 5/6/22 at 7:16 pm to Macfly
A) Demand has changed… significantly
B) Supply has changed as well… significantly
C) When you increase demand and you decrease supply, prices rise. If prices rise for a good that has an inelastic demand (which oil does), revenue is going to go up. And when prices for that good doubles, revenue goes up by a lot.
You’re right that this shouldn’t be the least bit surprising. But the sarcastic undermining of the company itself, and the implicit assertion that the only change in the market is their decision to unilaterally “jack up prices”, is utter nonsense nonsense.
B) Supply has changed as well… significantly
C) When you increase demand and you decrease supply, prices rise. If prices rise for a good that has an inelastic demand (which oil does), revenue is going to go up. And when prices for that good doubles, revenue goes up by a lot.
You’re right that this shouldn’t be the least bit surprising. But the sarcastic undermining of the company itself, and the implicit assertion that the only change in the market is their decision to unilaterally “jack up prices”, is utter nonsense nonsense.
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