Exxon Posts Record Profits

[martybegan]

So you WANT high gas prices? And the inflation that goes along with that?

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.

 

[Mr Natural]

What do you expect? They produce a product that they can charge whatever they want for it.

 

[Oddball]

Obviously they have the money to exploit those 7,000 viable unused leases and restart those refineries...but hey...when you can make profits like this just by jacking up the price...why bother

Restarting refineries would mean that envirowhack moonbats like you would need to STFU and let them do it.....Never going to happen.

 

[martybegan]

"Record profits" in dollars that have never been worth less.

big whoop

That too.

 

[Lesh]

To note, oil companies do not directly set the prices. The fundamentals were absolutely no different when oil was at $130 than it is now at $79. The only difference is hedge funds decided to run the prices up.

That doesn't account for record profits. Hedge funds don't SHARE their profits

 

[Lesh]

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

You know how to lower their profits?

Let them remove more oil from the ground, and move it to market easier.

"Record profits" in dollars that have never been worth less.

Called that one

 

[martybegan]

Obviously they have the money to exploit those 7,000 viable unused leases and restart those refineries...but hey...when you can make profits like this just by jacking up the price...why bother

How do you know how viable the leases are? Did they get permits to start work?

Are those refineries impacted by new EPA regs put in place via executive order?

 

[pknopp]

That doesn't account for record profits. Hedge funds don't SHARE their profits

Nope but oil companies make more at $5.00 than $3.50. When oil is ran up to $130 the prices at the pump are going to be higher.

It's all set up for the few to profit immensely at the cost of the majority.

 

[martybegan]

Called that one

It's called the reality of the market system when dealing with a fungible commodity.

 

[Lesh]

How do you know how viable the leases are? Did they get permits to start work?

Are those refineries impacted by new EPA regs put in place via executive order?

There are 9,000 unused leases...only 2,000 are being blocked by permits etc.

And no...the refineries are not impacted by any EPA "regs put in place".

They shut down during covid and never restarted

 

[pknopp]

It's called the reality of the market system when dealing with a fungible commodity.

Why does a market system allow people who will never actually take control of a product, run the price of that product up?

 

[Lesh]

Nope but oil companies make more at $5.00 than $3.50.

No shit Captain Obvious

 

[pknopp]

No shit Captain Obvious

So why argue with me?

Who created the actions that led to $5.00?

 

[martybegan]

There are 9,000 unused leases...only 2,000 are being blocked by permits etc.

And no...the refineries are not impacted by any EPA "regs put in place".

They shut down during covid and never restarted

"only 2000", and how many of those are the viable leases?

Oh I bet they are, Biden's EPA is probably far more annoying about restarting places using rules in place.

 

[Oddball]

How do you know how viable the leases are? Did they get permits to start work?

Are those refineries impacted by new EPA regs put in place via executive order?

This is the same bait-and-switch that they pulled during the regime of the Boiking.

Extend leases in low probability areas, or where the extraction costs are extremely high, then blame the oil producers for not wasting the resources on such low-return areas.

We're dealing with totally dishonest slime here.

 

[martybegan]

Why does a market system allow people who will never actually take control of a product, run the price of that product up?

Because in other cases speculation makes prices go down, or stabilizes them.

 

[1srelluc]

OP's just mad Ukraine's not getting a cut.

 

[Lesh]

"only 2000", and how many of those are the viable leases?

Oh I bet they are, Biden's EPA is probably far more annoying about restarting places using rules in place.

So you can't document any of your nonsense

 

[Lesh]

Because in other cases speculation makes prices go down, or stabilizes them.

On what fucking planet!

 

[martybegan]

So you can't document any of your nonsense

Neither can you.

What is documented is the current administrations hostility to fossil fuels in general.