Exxon Posts Record Profits

[Lesh]

it is fact, there was an artificial shortage created by Biden. Oil prices are based on futures, so if the oil future looks bleak prices go up. Its not necessarily a physical shortage at the time, but rather the perception that government acts have created a future shortage. I know that's probably too complicated for your simple mind, but that is how it works.

You just admitted it was "perception" rather than fact.

Go sit in the corner

 

[Polishprince]

You just admitted it was "perception" rather than fact.

Go sit in the corner

Perception is fact in commodity markets. Traders are always looking for future trends.

And the trends under Biden are greater and greater hassles for any fossil fuel producer seeking to produce more.

That gets factored into the prices.

 

[Lesh]

Perception is fact in commodity markets. Traders are always looking for future trends.

And the trends under Biden are greater and greater hassles for any fossil fuel producer seeking to produce more.

That gets factored into the prices.

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

 

[Polishprince]

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

No, its a valid perception that future shortages are likely under the environmentalist whackoism of the Biden Regime.

No one can actually predict the future, but commodity traders have to make their best guess.

 

[Redfish]

You just admitted it was "perception" rather than fact.

Go sit in the corner

screw you, asshole. I explained why Biden's actions have caused gas prices to go up. your juvenile reply is about what I expected from a mindless indoctrinated sheep. Oil and gas prices are always determined by perception of future availability, your refusal to accept the truth says a lot about you. now you are dismissed. Go away.

 

[Redfish]

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

your continued display of ignorance is becoming amusing.

 

[Redfish]

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

THE PERCEPTION WAS CAUSED BY BIDEN, YOU FRICKEN IDIOT. THAT'S THE POINT.

 

[there4eyeM]

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

They are only taking advantage of their strangle-hold on society. We have allowed them this prerogative and must submit. The day may come when we learn better.

 

[gipper]

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

Probably true, though dumb Joe didn’t help matters with his lies about ending fossil fuels.

Big oil loves Joe. They just reported record profits, yet no one in government is demanding accountability. Big Oil owns both criminal gangs and dumb Joe too. It’s all a scam paid for by the American people.

It’s crony capitalism on display, but the Adam Smith types love it.

 

[surada]

Exxon Mobil's record $55.7 billion profit last year fuels criticism that it cashed in on war and sky-high gasoline prices

Exxon's bounty came as Americans shelled out more than $5 at one point for a gallon of gasoline.

fortune.com

THAT is why gas prices are so high

Wanna bet that the people bitching about high gas prices will defend this?

Profit margins have remained at 7% for decades.

 

[surada]

Increase supply opportunities and these problems of yours go away.

Companies are supposed to make money, that's what they do. Blame the government for promoting policies that makes it harder to increase supply.

Profit margins by industry.

Economic Forecast Released

Report indicates Anchorage emerging from recession.

www.alaskanomics.com

.

 

[surada]

Yet it's a false perception since there is no shortage.

In fact oil production is up considerably.

This is nothing short of fossil fuel companies gouging

Economic Forecast Released

Report indicates Anchorage emerging from recession.

www.alaskanomics.com

 

[gipper]

Profit margins have remained at 7% for decades.

Then there’s this…

Five major oil companies have reported their 2022 profits, smashing last year’s highs:

Exxon: $55.7 billion — setting a company record and bringing in $6.3 million an hour

Chevron: $36.5 billion – doubling their 2021 profits, with executives flaunting their “outstanding results” in an earnings call

Marathon: $14.5 billion — Q4 profit of $3.32 billion surged 331% from previous year

Valero: $11.6 billion – 866% higher than the previous year

Phillips 66: $11 billion — Q4 profit of $1.9 billion up 46% over Q4 2021

 

[surada]

Then there’s this…

View attachment 753666

Five major oil companies have reported their 2022 profits, smashing last year’s highs:

Exxon: $55.7 billion — setting a company record and bringing in $6.3 million an hour

Chevron: $36.5 billion – doubling their 2021 profits, with executives flaunting their “outstanding results” in an earnings call

Marathon: $14.5 billion — Q4 profit of $3.32 billion surged 331% from previous year

Valero: $11.6 billion – 866% higher than the previous year

Phillips 66: $11 billion — Q4 profit of $1.9 billion up 46% over Q4 2021

Yep, but their profit margins remain the same.

 

[gipper]

Economic Forecast Released

Report indicates Anchorage emerging from recession.

www.alaskanomics.com

It’s clear big oil can’t be trusted. It is a cartel. A monopoly with enormous political power. It’s time to break it up, but the capitalists won’t allow. They like late stage capitalism, which is really neo-Fascism.

 

[gipper]

Yep, but their profit margins remain the same.

That makes it all good then! Lol.

 

[Redfish]

It’s clear big oil can’t be trusted. It is a cartel. A monopoly with enormous political power. It’s time to break it up, but the capitalists won’t allow. They like late stage capitalism, which is really neo-Fascism.

the government encouraged the oil company mergers and consolidations i.e. the government created a monopoly, why do you think they did that?

 

[Redfish]

That makes it all good then! Lol.

try some math. is 7% of a billion more than 7% of a million? When the prices go up the profit dollars go up even though the profit % stays constant.

 

[surada]

That makes it all good then! Lol.

Look at industry margins compared to other industries.

Economic Forecast Released

Report indicates Anchorage emerging from recession.

www.alaskanomics.com

 

[surada]

the government encouraged the oil company mergers and consolidations i.e. the government created a monopoly, why do you think they did that?

They broke up standard oil.. antitrust and all.