Joe Blames Corporate Greed for His Inflation

[Weatherman2020]

Biden did from 12.5% to 18.75%, on 10% of FEDERAL LAND the US government controls.

WOW, 20%.

The FIRST increase since the 1920's.
What was the price of fuel in the 1920's?

$0.25.

So, if that's too expensive, they could just drill on the 90% of land the US government DOESN'T control.

 

[Nuthin' Fancy]

View attachment 657719
View attachment 657721

Biden and every government before him had the same laws and rules in place.
What laws and rules did Biden implement on shipping, storing, buying, selling, trading and taxing oil that the others didn't?

On the 10% he has control over?

 

[Weatherman2020]

Biden and every government before him had the same laws and rules in place.
What laws and rules did Biden implement on shipping, storing, buying, selling, trading and taxing oil that the others didn't?

On the 10% he has control over?

And one was for self reliance one against.

 

[Nuthin' Fancy]

And one was for self reliance one against.
View attachment 657728

"Self reliance"?

Oil?

The US has never been.

 

[Weatherman2020]

"Self reliance"?

Oil?

The US has never been.

Export of more oil than you bring in is self reliance.

Trump Just Achieved What Every President Since Nixon Had Promised: Energy Independence

Last week, the U.S. exported more oil than we imported, achieving energy independence for the first time in 70-plus years. It happened not because of decades of federal "energy policies," but despite them.

www.investors.com

 

[LeftofLeft]

Biden did from 12.5% to 18.75%, on 10% of FEDERAL LAND the US government controls.

WOW, 20%.

The FIRST increase since the 1920's.
What was the price of fuel in the 1920's?

$0.25.

So, if that's too expensive, they could just drill on the 90% of land the US government DOESN'T control.

Why the NEED for an increase in Royalties since the 1920s? In 1920s, $0.25 is equivalent to about $4.00 in 2022.

 

[Nuthin' Fancy]

Export of more oil than you bring in is self reliance.

Trump Just Achieved What Every President Since Nixon Had Promised: Energy Independence

Last week, the U.S. exported more oil than we imported, achieving energy independence for the first time in 70-plus years. It happened not because of decades of federal "energy policies," but despite them.

www.investors.com

A made up term used by oil companies and republicans.

The term has various non-literal definitions. And the US did satisfy some of these definitions under Trump in 2020 — as it did again in the 11 months of 2021, mostly under Biden.

Why were we IMPORTING oil?

The US exported more crude oil and petroleum products than it imported. It also produced more primary energy than it consumed.
But none of that means that the Trump-era US did no energy importing at all. From the beginning of Trump's term to the end, the US very much relied on oil and gas from abroad.

In 2020, Trump's last full year in office, the US imported about 7.9 million barrels per day of crude oil and petroleum products. That was down from prior years -- the US imported more than 10 million barrels per day in 2016, President Barack Obama's last full year -- but still a whole lot of foreign energy.

Before Biden announced a ban on imports of Russian energy last Tuesday, some Republicans suggested that the US had suddenly started importing Russian oil under Biden.

For example, Florida Gov. Ron DeSantis said at an event in late February: "We were, before Biden took office, for the first time in any of our lifetimes, actually energy independent. Putin didn't matter. Now, they're importing millions of barrels of oil from Russia."

Iowa Sen. Joni Ernst said on Fox News on March 6 that Biden's choices when he first came into office "put us in this tenuous position with energy independence in the United States. Instead of being an exporter of energy, we became a consumer of Russian oil."

The truth is that the US was importing a significant quantity of oil and petroleum products from Russia under Trump: over 137 million barrels in 2018, then 189.8 million barrels in 2019 and 197.7 million barrels in 2020.

 

[Nuthin' Fancy]

Why the NEED for an increase in Royalties since the 1920s? In 1920s, $0.25 is equivalent to about $4.00 in 2022.

I was surprised.

Likely, the record profits the oil companies are making and not passing the windfall down to consumers.

May 17 2022
Since Russia’s unjustified invasion of Ukraine in February 2022, which disrupted the global supply of fossil fuels and caused oil and gas shortages worldwide, oil and gas giants have quietly enjoyed unprecedented record profits.
While people across the United States have seen gas prices as high as $6 per gallon—stretching budgets thin and driving worsening inflation—the oil majors have been absolutely raking in money, lining CEOs’ and shareholders’ pockets with profits.

Companies already benefited from inflated gas prices in 2021 as the economy bounced back from the COVID-19 pandemic shutdowns—in fact, the top 25 companies made more than $205 billion in profits in 2021—but the recently announced first-quarter profits for 2022 are even more astounding.

The top five oil companies alone—Shell, ExxonMobil, BP, Chevron, and ConocoPhillips—brought in more than 300 percent more in profits than in the first quarter of 2021. That is a total of more than $35 billion in profits in just three months.

Instead of using this cash to make the investments needed to help lower the price of oil or to fulfill their climate pledges, companies are giving most of it back to their already extremely wealthy shareholders in the form of stock buybacks or giving it back to themselves in the form of executive bonuses.
Last year, 28 of the top oil and gas CEOs raked in $394 million in compensation—a nearly $45 million increase since 2020.

 

[LeftofLeft]

I was surprised.

Likely, the record profits the oil companies are making and not passing the windfall down to consumers.

May 17 2022
Since Russia’s unjustified invasion of Ukraine in February 2022, which disrupted the global supply of fossil fuels and caused oil and gas shortages worldwide, oil and gas giants have quietly enjoyed unprecedented record profits.
While people across the United States have seen gas prices as high as $6 per gallon—stretching budgets thin and driving worsening inflation—the oil majors have been absolutely raking in money, lining CEOs’ and shareholders’ pockets with profits.

Companies already benefited from inflated gas prices in 2021 as the economy bounced back from the COVID-19 pandemic shutdowns—in fact, the top 25 companies made more than $205 billion in profits in 2021—but the recently announced first-quarter profits for 2022 are even more astounding.

The top five oil companies alone—Shell, ExxonMobil, BP, Chevron, and ConocoPhillips—brought in more than 300 percent more in profits than in the first quarter of 2021. That is a total of more than $35 billion in profits in just three months.

Instead of using this cash to make the investments needed to help lower the price of oil or to fulfill their climate pledges, companies are giving most of it back to their already extremely wealthy shareholders in the form of stock buybacks or giving it back to themselves in the form of executive bonuses.
Last year, 28 of the top oil and gas CEOs raked in $394 million in compensation—a nearly $45 million increase since 2020.

People get obsessed over oil profits and windfalls as if they are entitled to it. Right now, of that $6.00 gas, oil companies may be getting $0.06 or $0.07 in profits. Oil companies bear all of the risk to capture that $0.06 per gallon in profit. Yet the Government at the Federal Level gets $0.18 per gallon for little or no risk.

How about the Government TAKE no more than as much as the oil company profits on a gallon of gas?

 

[Nuthin' Fancy]

People get obsessed over oil profits and windfalls as if they are entitled to it.

WTF?
So, they shouldn't support their country?

Like Trump.

Right now, of that $6.00 gas, oil companies may be getting $0.06 or $0.07 in profits.

Sure.
April 2 2022
In 2021, oil prices averaged $71 a barrel, meaning oil producers could expect a profit of at least $15 a barrel, whether that oil was refined into gasoline, jet fuel or home heating oil, among other options. But in 2020, oil prices averaged $42 a barrel for the year.

Barrel of oil- 42 gallons.

They also profit by refining oil.

Oil companies bear all of the risk to capture that $0.06 per gallon in profit. Yet the Government at the Federal Level gets $0.18 per gallon for little or no risk.

That goes to pay for roads.
New Mexico and Mississippi are the only two states that charge less than $0.18 a gallon (gasoline)

How about the Government TAKE no more than as much as the oil company profits on a gallon of gas?

So, you want to fix the potholes yourself?
Repair bridges?
Repave roads?
Repave runways?

Why are republicans whining to their state governments about THEIR taxes?

 

[BS Filter]

For someone who doesn't know God, Joe sure mentions Him a lot.

 

[Weatherman2020]

A made up term used by oil companies and republicans.

The term has various non-literal definitions. And the US did satisfy some of these definitions under Trump in 2020 — as it did again in the 11 months of 2021, mostly under Biden.

Why were we IMPORTING oil?

The US exported more crude oil and petroleum products than it imported. It also produced more primary energy than it consumed.
But none of that means that the Trump-era US did no energy importing at all. From the beginning of Trump's term to the end, the US very much relied on oil and gas from abroad.

In 2020, Trump's last full year in office, the US imported about 7.9 million barrels per day of crude oil and petroleum products. That was down from prior years -- the US imported more than 10 million barrels per day in 2016, President Barack Obama's last full year -- but still a whole lot of foreign energy.

Before Biden announced a ban on imports of Russian energy last Tuesday, some Republicans suggested that the US had suddenly started importing Russian oil under Biden.

For example, Florida Gov. Ron DeSantis said at an event in late February: "We were, before Biden took office, for the first time in any of our lifetimes, actually energy independent. Putin didn't matter. Now, they're importing millions of barrels of oil from Russia."

Iowa Sen. Joni Ernst said on Fox News on March 6 that Biden's choices when he first came into office "put us in this tenuous position with energy independence in the United States. Instead of being an exporter of energy, we became a consumer of Russian oil."

The truth is that the US was importing a significant quantity of oil and petroleum products from Russia under Trump: over 137 million barrels in 2018, then 189.8 million barrels in 2019 and 197.7 million barrels in 2020.

Importing less than you export of anything means you’ve got a surplus.
Economics 101.

And we imported because companies have contracts.

 

[busybee01]

Joe: “Why don’t you tell them what Exxon’s profits were this year? This quarter? Exxon made more money than God this year,” he said in remarks at the Port of Los Angeles. “Exxon, start investing. Start paying your taxes.”

Exxon profit margin: 5.48%

Pretty standard for any business.

Effective income tax paid: 32.8%

Nice chunk.

Now the million dollar question:
WHY WASNT THERE CORPORATE GREED THE PAST FOUR DECADES?

Joe ‘The Buck Stops with Me’ Biden always blames everyone and everything except the one who’s to blame: Joe Biden the Liar.

ExxonMobil announces first-quarter 2022 results

IRVING, Texas – April 29, 2022 – Exxon Mobil Corporation today announced estimated first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. First-quarter results included an unfavorable identified item of $3.4 billion associated with our planned exit from Russia...

corporate.exxonmobil.com

Oil companies are seeing record profits despite your attempts to blow smoke. They can control how much they make simply by deciding not to drill.

There clearly is corporate greed and their balance sheets show this. They are raising prices more than their costs are rising. The problem today is that there are more industries today than ever before where there is little or no competition. For example, I like to look at the prices of televisions when I shop. Televisions are a highly competitive industry as there are a lot of sellers. Prices initially went up but have since come back down.

 

[Weatherman2020]

Oil companies are seeing record profits despite your attempts to blow smoke. They can control how much they make simply by deciding not to drill.

There clearly is corporate greed and their balance sheets show this. They are raising prices more than their costs are rising. The problem today is that there are more industries today than ever before where there is little or no competition. For example, I like to look at the prices of televisions when I shop. Televisions are a highly competitive industry as there are a lot of sellers. Prices initially went up but have since come back down.

A 5.43% profit margin is pathetic.

 

[busybee01]

Liar. ExxonMobil did a bit better on net profit margin this quarter at 6%, compared to 2021Q1’s 4.6%, but both are generally in the range of the oil industry’s normally narrow profit-margin average of about 5%.

Now why is suddenly every company in America greedy after 40 years?

Because there are too many industries that have little or no competition.

 

[Weatherman2020]

Because there are too many industries that have little or no competition.

I’ve got 8 gas companies to choose from in a 5 mile radius.
2 grocery stores.

 

[busybee01]

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

These twenty-five Biden administration policies are affecting gas prices, home heating costs, and other energy-related burdens families face. Read more.

americansforprosperity.org

That article is bullshit. Try again.

 

[busybee01]

I’ve got 8 gas companies to choose from in a 5 mile radius.
2 grocery stores.

No you don't. These stations get their gas from a few sellers. You really think that grocery stores drill for oil and refines it into gasoline. You are either stupid or a liar. I think the latter is true.

 

[marvin martian]

Joe: “Why don’t you tell them what Exxon’s profits were this year? This quarter? Exxon made more money than God this year,” he said in remarks at the Port of Los Angeles. “Exxon, start investing. Start paying your taxes.”

Exxon profit margin: 5.48%

Pretty standard for any business.

Effective income tax paid: 32.8%

Nice chunk.

Now the million dollar question:
WHY WASNT THERE CORPORATE GREED THE PAST FOUR DECADES?

Joe ‘The Buck Stops with Me’ Biden always blames everyone and everything except the one who’s to blame: Joe Biden the Liar.

ExxonMobil announces first-quarter 2022 results

IRVING, Texas – April 29, 2022 – Exxon Mobil Corporation today announced estimated first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. First-quarter results included an unfavorable identified item of $3.4 billion associated with our planned exit from Russia...

corporate.exxonmobil.com

Biden's supporters are SO dumb, they believe corporations decided to get greedy in 2021. Think about the level of stupid that requires...see every post by busybee01 for examples.

 

[busybee01]

A 5.43% profit margin is pathetic.

It depends on where you start from. The average net profit margin of S&P 500 companies is 12.3%.

Oil giants reap record profits as war rages in Ukraine, energy prices soar: Here's how much they made

Profits for Exxon Mobil, Shell, Chevron and more rose by billions in the first quarter – despite costs from war in Ukraine and soaring energy prices.

www.usatoday.com