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re: Shell oil reports record profit
Posted on 5/6/22 at 6:29 pm to RTRinTampa
Posted on 5/6/22 at 6:29 pm to RTRinTampa
I hate that these gotcha headlines that come out to make people pissed off at "O&G evil corporations" and to give Biden a pass on his handling of oil permitting and CV shutdowns.
LINK
Their profits were a supply and demand issue. That shortage of supply was created by shutdowns from the stupid arse Biden administration but people buy the lies that Biden is feeding everyone blaming high prices on everything on corporate greed and not due to printing money while also artificially creating goods shortages.
Why did every company in every industry all of a sudden get greedy under Biden? Coincidence? Conspiracy?
quote:
At the end of 2021, BP, Exxon Mobil, Shell, and Chevron all reported the highest profits they’ve seen since 2014, and every single company attributed those record profits to surging oil prices as post-pandemic demand increased and supply had not yet met that demand.
LINK
Their profits were a supply and demand issue. That shortage of supply was created by shutdowns from the stupid arse Biden administration but people buy the lies that Biden is feeding everyone blaming high prices on everything on corporate greed and not due to printing money while also artificially creating goods shortages.
Why did every company in every industry all of a sudden get greedy under Biden? Coincidence? Conspiracy?
0
Posted on 5/6/22 at 6:29 pm to Sao
quote:
With all that profit, they (and all others) can afford to bring more refining online.
Absolutely they can. No one ever questioned that. I honestly think at this point they’re doing this in part to stick it to the democrats. They’re also making record profits, so why would they actively try to do anything other than hold serve and rake it in?
Posted on 5/6/22 at 6:48 pm to sawtooth
quote:
preserve what Ukraine calls democracy.
FIFY
Posted on 5/6/22 at 6:49 pm to BK Lounge
Love Elon dude is MAGA AF and doesn't care who knows it
Posted on 5/6/22 at 6:51 pm to RTRinTampa
Did they start making vaccines?
Posted on 5/6/22 at 6:53 pm to RTRinTampa
Well high gas prices means record profit no surprise here. You have to have gas, tp, food and water and most of those are run by a cartel or handful of people. Thank your arse TP isn’t one of them
Posted on 5/6/22 at 6:57 pm to Klark Kent
What you reckon this BK Lounge jabroni got banned for
Posted on 5/6/22 at 6:58 pm to RTRinTampa
quote:
Shell oil reported it made a record 9.1
Still only a third of Pfizer’s first quarter profits. How much of the 26 billion in Pfizer’s first quarter profits came from Covid funds for their flu shot?
Posted on 5/6/22 at 7:00 pm to RPC4LSU
There is a whole 3 part series on frontline called the power of big oil. If only the damn nazis perfected that synthetic fuel formula, or did they . Great old movie called the formula kinda about this.
Posted on 5/6/22 at 7:02 pm to RTRinTampa
Good for them. Were people throwing a fit with how much profit the pill pushing companies or Amazon was making when they do well?
Some of the European countries are now wanting to impose a windfall tax on Shell and BP because they are now doing well. I guess people forgot how bad it was for these companies in the fall of 2020.
If the government would just back away and quit demonizing the O&G industry, the would commit more capital to invest in more future projects.
Some of the European countries are now wanting to impose a windfall tax on Shell and BP because they are now doing well. I guess people forgot how bad it was for these companies in the fall of 2020.
If the government would just back away and quit demonizing the O&G industry, the would commit more capital to invest in more future projects.
Posted on 5/6/22 at 7:05 pm to RTRinTampa
Any businesses that serve the hydrocarbon powered vehicles will be raising prices and profits from here on out....I would too.
They have a finite life left in business. Law of supply and demand will engage once again.
I like my gas powered truck!
They have a finite life left in business. Law of supply and demand will engage once again.
I like my gas powered truck!
Posted on 5/6/22 at 7:08 pm to RTRinTampa
quote:
Last year same period
I wonder what happened
Posted on 5/6/22 at 7:10 pm to Klark Kent
quote:
i can assure you that the form of the government that you voted for is absolutely not doing any favors for the O&G industry. But you know this, so next dumb question.
Nice deflection.
Now, how about the question ? The QUESTION, jerk ! Can you answer it ? Are we taxpayers still subsidizing these Billions of dollars per quarter companies ??
Posted on 5/6/22 at 7:12 pm to BK Lounge
no. the answer is no, dumbass
sure, if that “finite life” extends well past you and I’s lifetime and likely our children’s.
quote:
They have a finite life left in business.
sure, if that “finite life” extends well past you and I’s lifetime and likely our children’s.
This post was edited on 5/6/22 at 7:14 pm
Posted on 5/6/22 at 7:12 pm to Sun God
quote:
What you reckon this BK Lounge jabroni got banned for
You sound like you are a big proponent of welfare.. CORPORATE welfare.. that’s fine , just admit it .. or are you gonna deflect like your boy KKK and make this about me ?
Posted on 5/6/22 at 7:13 pm to RTRinTampa
By going green and trading Russian oil.
Posted on 5/6/22 at 7:13 pm to Klark Kent
quote:
no. the answer is no, dumbass
We are NOT subsidizing them ? Where the frick is ur link ??
Posted on 5/6/22 at 7:15 pm to TutHillTiger
The gasoline, and diesel fuel made from a single barrel of oil is minute to everything else made from the glorious hydrocarbon.
Tesla, and all EV have tons of plastics, nuts, bolts, machine pressed body parts, and so on. It all takes electricity. A lot of which still comes from coal or natural gas.
Do you realize how much diesel is getting burned in the equipment just extract the minerals to make the batteries??
Big oil isn’t going anywhere anytime soon. Mouth breathing progressive libtards are so fricking obtuse!!!
Tesla, and all EV have tons of plastics, nuts, bolts, machine pressed body parts, and so on. It all takes electricity. A lot of which still comes from coal or natural gas.
Do you realize how much diesel is getting burned in the equipment just extract the minerals to make the batteries??
Big oil isn’t going anywhere anytime soon. Mouth breathing progressive libtards are so fricking obtuse!!!
Posted on 5/6/22 at 7:15 pm to Klark Kent
quote:
no. the answer is no, dumbass
Im gonna start calling you the corporate welfare queen… you are worse than the EBT recepient with the latest iPhone, baw
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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