Article

2022-07-30 Economy

Oil company profits boom as Americans reel from high fuel prices

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Posted by Besoeker 2022-07-30 03:51|| E-Mail|| Front Page|| [11133 views ] Top

#1 Supply and demand-101. Limit the supply, the price on whatever is available goes up.

Posted by Besoeker 2022-07-30 04:20|| 2022-07-30 04:20|| Front Page Top

#2 I figger they're talking about pre-tax profits, so the government gets half, amirite?

Posted by Bobby 2022-07-30 07:43|| 2022-07-30 07:43|| Front Page Top

#3

Given, we are told we are using LESS Oil/Gas/Diesel at double the price. Are these earning figures Mathematically possible WITHOUT some slick industry manipulation ?

Posted by NN2N1 2022-07-30 08:32|| 2022-07-30 08:32|| Front Page Top

#4 The fastest way to lose money in the oil business is to drill a dry hole. With drilling shut down, the oil companies are turning to the aspects of their operations that they can operate, and those are making unusual profits in the current distorted market.

Posted by M. Murcek 2022-07-30 09:13|| 2022-07-30 09:13|| Front Page Top

#5 "Exxon made more money than God this year."

What does God need with ~~a starship~~ money?

Posted by Raj 2022-07-30 09:34|| 2022-07-30 09:34|| Front Page Top

#6 Is 'the big guy' getting his 10% from "The Big Guy"?

How else would he know how much money God makes?

Posted by Bobby 2022-07-30 09:39|| 2022-07-30 09:39|| Front Page Top

#7 Number two squarely nails it. There is probably nothing taxed more heavily than the oil and gas industry. Permit to well head, to refinery, to gas station, to consumer. Off-shore and gov't lands are even more lucrative for our D.C. masters.

Posted by Besoeker 2022-07-30 10:04|| 2022-07-30 10:04|| Front Page Top

#8 Always fail to mention Gross or Net, and post-tax. But the War of Kyeeeev!

But like what Raj hits at...how are Pharmaceuticals, Military, and The Big Guy industries doing?

Posted by swksvolFF 2022-07-30 10:10|| 2022-07-30 10:10|| Front Page Top

#9 I question the veracity of the source, and the Grauniard.

Posted by Whiskey Mike 2022-07-30 11:05|| 2022-07-30 11:05|| Front Page Top

#10 It is nearly word for word a Daily Mail article about a month and a half ago explaining why their energy producers are having record profits at consumer expense so taxes need to be raised to give consumers tax relief on energy prices.

Posted by swksvolFF 2022-07-30 11:10|| 2022-07-30 11:10|| Front Page Top

#11 And we all know how Democrats hate profits.

Posted by Abu Uluque 2022-07-30 12:05|| 2022-07-30 12:05|| Front Page Top

#12 "Figures don't lie, but Liars 'figure'." As the old saying goes...

Posted by magpie 2022-07-30 16:43|| 2022-07-30 16:43|| Front Page Top

#13 After 12 years in the oil industry I can tell you that the numbers on paper aren't reality. Because you need to explore and deal with delays, those profits vanish when a hurricane ends drilling for 3 weeks and the rigs have to flee or a drill string gets stuck down hole and costs you an extra 5-6 million to deal with. Operating costs in this industry are HIGH.

Posted by Silentbrick 2022-07-30 21:34|| 2022-07-30 21:34|| Front Page Top

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