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Taxes, ok, but the rest doesn´t apply.
www.chicagomag.com
Those net profits come out to hundreds of dollars per second, and that is not just one company. That results in astounding economic and political power./-------/ Net profits? What do you mean?
Is that a serious question?
Net profit definition: what is net profit?
Net profit is the measurement of a company's profit once operating costs, taxes, interest and depreciation have all been subtracted from its total revenues. The term is often referred to as a company's 'bottom line' and may also be described as 'net earnings' or 'net income'. -- Capital.com
Well, I guess you are right with that special gas blend.Really? Transportation costs from refineries don't vary?
Chicago doesn't have a different gas blend than the rest of the country?
/——-/ So?Those net profits come out to hundreds of dollars per second, and that is not just one company. That results in astounding economic and political power.
Biden will soon set many new oil production records with the increasing number of operating drilling rigs.
View attachment 655420
They do it at the start of every bust cycle.
Right. Except you're claiming current high prices are the bust cycle.
Oil companies never lose money.
Never? Never ever? LOL!
In 2020, their yearly NET profits were over $4 billion.
Net profits? What do you mean?
/-----/ No one ever accused Bloomberg of being a right-wing news org.
The Biden administration has repeatedly pointed to the number of approved but untapped drilling permits on federal land when questioned about how U.S. production can rise, and what the federal government can do to help.
“There’s a fundamental misunderstanding of the administration as to how the process actually works,” Sommers said in an interview on the sidelines of the conference.
“Just because you have a lease doesn’t mean there’s actually oil and gas in that lease, and there has to be a lot of development that occurs between the leasing and then ultimately permitting for that acreage to be productive,” he said. “I think that they’re purposefully misusing the facts here to advantage their position.”
Why haven't the monopolies set the price at $200? Or $300?
If the price is set, why does the chart move between $68 and $120?
View attachment 655363
Isn't the price "set by the monopolies"?
Anyone would have to know what "net profit" means. It isn't clear what game he's playing, but these oil apologists are a curious lot.Correct, It's part of the cycle. The bust cycle is initiated, and prices rise thereafter. Until they've the citizens have reached their breaking point.
Correct. The price at the pump is all overhead plus profit. Plus the store owners profits.
Net profit. After everything is paid out, what is left over is net profit.
But they are now realizing that they can make a shitload of money without maxing out their production abilityOil companies can't price themselves out of a job. If they went to $300 per barrel, no one could afford gas/diesel. The EV and solar market would boom and put oil companies out of business.
But they are now realizing that they can make a shitload of money without maxing out their production ability
None of this would do anything for gas prices for a very long time
You say you make up lies for a living? Wow. Nice gig if you can get it I guess.
In reality he said "Thought demand was low during pandemic? Doesn’t that mean prices would go up?"
Can't fool me, you added "then as we recover demand will grow and prices will go up."
Nice Kaz, nice.
Bro, I can't stand Biden. And can only think of one democrat in my entire life that I respect. (Tulsi Gabbard). So don't even try this "you're pro Biden" crap on me.
I'm just giving unbias information with facts about how and why oil companies do what they do. Boom and bust cycles are a natural occurrence in the oil business.
Have you forgotten why the whole "drill baby drill" slogan came about? We were sick of OPEC's bust cycles, where we were forced to pay high prices at the pump for middle eastern oil. So the government gave HUGE tax incentives and corporate welfare to oil companies to "drill baby drill."
And now Americans are shocked to find out that US oil companies are doing the same exact thing that OPEC did to us for so long.
There's a financial reason for bust cycles. It's just business. It'll be over in a year or so, and prices will once again fall.
Here's a little advice: Remember this bust cycle. Write it down if you need to. Because there will be more in the future. About every 5 years or so. That way you won't be shocked when the next one hits.
What were their gross sales over that period of time?Net profit is the measurement of a company's profit once operating costs
Yup.
Now what does the following mean?
Oil companies never lose money.
In 2020, their yearly NET profits were over $4 billion.
Markle you disagree with hard facts. Don't you know anything about the oil business?OPEC is always cheaper than Texas intermediate or Brent.
Correct. The price at the pump is all overhead plus profit. Plus the store owners profits.
Oil companies can't price themselves out of a job. If they went to $300 per barrel, no one could afford gas/diesel. The EV and solar market would boom and put oil companies out of business.
