American oil Companies?

[cbi0090]

Out of curiosity cbi, if the oil companies are "making peanuts" as you claim, then can you please explain why for the past couple of years they are posting record profits EVERY FUCKING QUARTER?!?!?!?!??

I explained that very thing in my post. The majority of those profits go to shareholders, that's you and me. If you don't happen to have a pension or a 401K then that may not include you but you'd be the exception rather than the rule in the U.S. these days. The portion of profit that goes back to the company is only that which is identified for continued R&D, expansion, etc, ahead of time and it doesn't amount to much more than any other company on a percentage basis. That is what is spelled out in those quarterly reports but, of course, the media can't read past the profit line that wouldn't make it interesting enough to sell soap. It's no different for them than for any other publicly held company, except they are multi-national (which really only means that they have to abide by U.S. as well as many other national laws in terms of their accounting practices, permits, and so on and so on). Accounting practices in Europe are not the same as here in the US because most of their wealth remains within their aristocratic class and are consequently far less transparent and the tax structure is very different, os it's very easy to look at an accounting report going to a European nation and say that it's looks fishy to a US accountant (another little news maker they like to pull now and then). The media news is so unreliable and news needy they'll stoop to anything to get your attention, so they can sell you something. And they hate anyone who makes more money than they do.

 

[ABikerSailor]

cbi, the people who have been reporting the oil company profits would strongly disagree with you. Putting money back into exploration and r and d? Nope.....not seeing it, as well as not seeing any new refineries being built.

Have seen a lot of golden parachutes though.