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Started By
Message
re: One guy wants a Government Bailout of Oil Companies
Posted on 1/14/16 at 2:17 pm to FloridaMike
Posted on 1/14/16 at 2:17 pm to FloridaMike
quote:
Too Baw to Fail
0
Posted on 1/14/16 at 2:18 pm to FloridaMike
quote:
Too Baw to Fail
"Baw" is usually like nails on a chalkboard...but I'm not going to lie, this had me rolling. Nice work.
Posted on 1/14/16 at 2:18 pm to The First Cut
Didn't the oil industry make billions in profits just a few years ago... 
Posted on 1/14/16 at 2:18 pm to AUCE05
"Greg Valliere, chief global strategist at Horizon Investments, wonders..."
Nowhere in the article does it say that the right is pushing for a bailout. It's some strategist at an investment firm "wondering".
Slow your rolls, liberal hippie fricks.
quote:
I guess small gov and less welfare are only good when the right doesn't need a hassle at their constituent doorstep
quote:
I thought only the blacks and libtards took gubment money?
Nowhere in the article does it say that the right is pushing for a bailout. It's some strategist at an investment firm "wondering".
Slow your rolls, liberal hippie fricks.
Posted on 1/14/16 at 2:25 pm to FloridaMike
quote:
Too Baw To Fail
Posted on 1/14/16 at 2:25 pm to The First Cut
bring on that govt check.....going to have to redraw my house plans and add another 1k sq ft
Posted on 1/14/16 at 2:26 pm to The First Cut
People scream capitalism at it's finest when oil is $140 and gas is 4.50 but flip the script and that capitalism argument is nowhere to be heard
Posted on 1/14/16 at 2:28 pm to Commandeaux
Yeah Exxon has a shitload of cash. They will not be needing a bailout
Posted on 1/14/16 at 2:29 pm to Sao
I was against financial and auto bailouts, am against oil bailouts. It's not a right/left issue
Posted on 1/14/16 at 2:31 pm to RogerTheShrubber
I guess that 40 billion a quarter in profit they were making wasn't enough to cover their hookers and blow tab.
Posted on 1/14/16 at 2:34 pm to The First Cut
If it saves one Yeti....
Posted on 1/14/16 at 2:39 pm to The First Cut
quote:
"If Washington can bail out big banks and the auto industry, why not a bailout for oil companies?
I agree
Posted on 1/14/16 at 2:39 pm to CCTider
quote:
I guess that 40 billion a quarter in profit they were making wasn't enough to cover their hookers and blow tab.
It was $41B in a year, and it was less than 10% margin, and that's including income on affiliates and sale on assets. They also paid nearly $31B in taxes to various governments that same year.
Now they have a lot of cash on hand to help them weather this storm. That's just good business.
Oil companies cannot and should not be bailed out, but people bashing them a few years ago for record profits were idiots then and still are. It's never been a high margin business.
Posted on 1/14/16 at 2:41 pm to CCTider
Oil companies pay a shite load in taxes
Posted on 1/14/16 at 2:44 pm to Rhino5
quote:
It's funny because USA is driving down oil prices by fracking,
the current state of affairs is surely at the fault of the US, but nobody is actively dong these things and didn't all of 2015.
This post was edited on 1/14/16 at 2:45 pm
Posted on 1/14/16 at 2:46 pm to The First Cut
quote:
On guy wants a Government Bailout of Oil Companies
quote:
Edited by admin for misleading thread title.
Posted on 1/14/16 at 2:46 pm to AbuTheMonkey
quote:
It's never been a high margin business.
That's mostly because of the extreme price markups from vendors and subs. They've been dramatically started dropping prices since oils prices had dropped.
I heard Chevron's break even point was $38 a barrel. No link, just info from a close relative that works for a chevron sub. They were making way more than 10% a few years bank when it was over $100.
Posted on 1/14/16 at 2:47 pm to RogerTheShrubber
quote:
Oil companies pay a shite load in taxes
For every barrel we produce, we get approximately 1/3 of the money from it.
Posted on 1/14/16 at 2:49 pm to CCTider
quote:
I heard Chevron's break even point was $38 a barrel. No link, just info from a close relative that works for a chevron sub. They were making way more than 10% a few years bank when it was over $100.
every single well is different and it's all an estimate until it's flowing
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