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Message
What am I missing on my thinking about oil companies
Posted on 10/27/22 at 4:21 pm
Posted on 10/27/22 at 4:21 pm
Second quarter profits
Exxon Mobil: $17.9 billion
Shell: $10 billion
Chevron: $11.6 billion
Conoco: $5.1 billion
I support capitalism
I believe businesses can charge what the market will pay
I shop around for the least expensive gasoline but all of the big boys are making huge profits so it’s not like I can boycott oil companies
I don’t blame anyone for the cost of gasoline. I’ve seen high gasoline prices no matter which political party is the majority party so I don’t blame politicians.
I don’t cut back on my driving when prices are high. I cut back in other areas.
I suppose I could blame the oil companies but I don’t blame them either.
I pay the best price I can and choose some other battle to fight, or not.
Exxon Mobil: $17.9 billion
Shell: $10 billion
Chevron: $11.6 billion
Conoco: $5.1 billion
I support capitalism
I believe businesses can charge what the market will pay
I shop around for the least expensive gasoline but all of the big boys are making huge profits so it’s not like I can boycott oil companies
I don’t blame anyone for the cost of gasoline. I’ve seen high gasoline prices no matter which political party is the majority party so I don’t blame politicians.
I don’t cut back on my driving when prices are high. I cut back in other areas.
I suppose I could blame the oil companies but I don’t blame them either.
I pay the best price I can and choose some other battle to fight, or not.
23
Posted on 10/27/22 at 4:22 pm to NorthTiger
quote:
I’ve seen high gasoline prices no matter which political party is the majority party so I don’t blame politicians.
But when have you seen the lowest gasoline prices?
This post was edited on 10/27/22 at 4:23 pm
Posted on 10/27/22 at 4:26 pm to NorthTiger
How much did they lose during the plandemic?
How do these numbers compare to pre-plandemic profits?
How much money did they invest to realize these profits?
How much profit do you feel they should earn each quarter?
How do these numbers compare to pre-plandemic profits?
How much money did they invest to realize these profits?
How much profit do you feel they should earn each quarter?
This post was edited on 10/27/22 at 4:27 pm
Posted on 10/27/22 at 4:27 pm to NorthTiger
quote:
Second quarter profits
Exxon Mobil: $17.9 billion
Shell: $10 billion
Chevron: $11.6 billion
Conoco: $5.1 billion
Now compare their profit margins to other companies and think about it
Posted on 10/27/22 at 4:28 pm to LSU Grad Alabama Fan
quote:
I’ve seen high gasoline prices no matter which political party is the majority party so I don’t blame politicians. But when have you seen the lowest gasoline prices?
I’m going to play devil’s advocate here. What if I had a family member working in the oil industry and his/her pay check and/or bonuses were higher the more money the company earned. Wouldn’t I want high gas prices?
Posted on 10/27/22 at 4:30 pm to NorthTiger
So you're not going to answer my question?
Posted on 10/27/22 at 4:31 pm to AUHighPlainsDrifter
quote:
How much did they lose during the plandemic? How do these numbers compare to pre-plandemic profits? How much money did they invest to realize these profits? How much profit do you feel they should earn each quarter?
I’ve already answered the basic question you asked (#4). Whatever the market will allow. Isn’t that free enterprise?
Posted on 10/27/22 at 4:31 pm to NorthTiger
How do you feel about big tech company profits:
Apple: $99.61 billion
Microsoft: $72.75 billion
Google: $72.01 billion
???
Apple: $99.61 billion
Microsoft: $72.75 billion
Google: $72.01 billion
???
Posted on 10/27/22 at 4:35 pm to GumboPot
quote:
profits: Apple: $99.61 billion Microsoft: $72.75 billion Google: $72.01 billion ???
Same way because the very first thing I wrote is I believe in capitalism. But if I say that I’m not going to blame anyone for those profits.
Posted on 10/27/22 at 4:36 pm to GumboPot
quote:
How do you feel about big tech company profits:
Apple: $99.61 billion
Microsoft: $72.75 billion
Google: $72.01 billion
What about Wal Mart and Amazon? I'm sure they really cleaned up during the pLandemic.
Posted on 10/27/22 at 4:39 pm to AUHighPlainsDrifter
Dude, stop taking up for them. They KNOW they have us by the short and curlies. Democrat policy....shite, Republican policy , at times offer them an excuse.
They, like the government and insurance companies are not your friends. They'll frick us because they can right now and blame government policy and make a huge profit at greater margins.
They, like the government and insurance companies are not your friends. They'll frick us because they can right now and blame government policy and make a huge profit at greater margins.
Posted on 10/27/22 at 4:42 pm to KiwiHead
quote:
Dude, stop taking up for them. They KNOW they have us by the short and curlies. Democrat policy....shite, Republican policy , at times offer them an excuse.
They, like the government and insurance companies are not your friends. They'll frick us because they can right now and blame government policy and make a huge profit at greater margins.
Baw, I'm taking up for capitalism, not oil companies. Why? Because'Murica is built on it.
Posted on 10/27/22 at 4:42 pm to NorthTiger
Oil is cyclical, when its booming they make big profits.
When it tanks, they get hit hard, like really hard. Operating costs are large and it is difficult to cut when you have to balance performance, safety, adhering to regulations, etc. You also have a ton of big expensive equipment to maintain.
I was in oil and saw the glory days and then the toilet days. When oil is down it is scary out there.
Let them enjoy the profits while they can, because when it tanks again they are going to need the money to manage the situation.
When it tanks, they get hit hard, like really hard. Operating costs are large and it is difficult to cut when you have to balance performance, safety, adhering to regulations, etc. You also have a ton of big expensive equipment to maintain.
I was in oil and saw the glory days and then the toilet days. When oil is down it is scary out there.
Let them enjoy the profits while they can, because when it tanks again they are going to need the money to manage the situation.
This post was edited on 10/27/22 at 4:43 pm
Posted on 10/27/22 at 4:43 pm to KiwiHead
quote:
Marner & KiwiHead
Makes sense to me.
This post was edited on 10/27/22 at 4:46 pm
Posted on 10/27/22 at 4:44 pm to NorthTiger
What was your opinion on Amazon during COVID? OR IS IT ONLY ONE INDUSTRY THAT IS BIG AND BAD BOOGIE MAN?
Posted on 10/27/22 at 4:45 pm to KiwiHead
They are making decent profits but part of that comes from them not taking any of their profits and investing it in new oil wells , refineries etc.
if I was in charge of an oil company I would hold a press conference to say “ we ain’t sticking another pipe in the ground until we get a policy long term that doesn’t put us out of business . You don’t want us , let’s see how you like having none of our products . “
if I was in charge of an oil company I would hold a press conference to say “ we ain’t sticking another pipe in the ground until we get a policy long term that doesn’t put us out of business . You don’t want us , let’s see how you like having none of our products . “
Posted on 10/27/22 at 4:45 pm to NorthTiger
All are publicly traded. If you think their profits are somehow "obscene," it's easy as pie to jump onboard.
Posted on 10/27/22 at 4:48 pm to Heyes
quote:
You don’t want us , let’s see how you like having none of our products . “
Absolutely.
Then OP'S next thread will be "went to Academy to buy my son a basketball. Can you believe Spalding is charging $400 for a ball? Err big bad Spalding..."
Posted on 10/27/22 at 4:48 pm to NorthTiger
Climate religion makes the long term value of refining investments poor.
1 million bbls plus of refining capacity has been shuttered.
Economic development continues to raise the demand for diesel.
That's a supply demand balance that leads to outsized margins.
1 million bbls plus of refining capacity has been shuttered.
Economic development continues to raise the demand for diesel.
That's a supply demand balance that leads to outsized margins.
Posted on 10/27/22 at 4:50 pm to AUHighPlainsDrifter
quote:
How much did they lose during the plandemic?
How do these numbers compare to pre-plandemic profits?
How much money did they invest to realize these profits?
How much profit do you feel they should earn each quarter?
You should re-read the OP.
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