a huge record profit of 161 BILLION dollars! I'm sure our main guy on here when talking about profits thinks that's just great and they should go for even more next year. Ya know they gotta keep the stockholders happy. 
Saudi Aramco just reported
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I worked for my pay they just throw some money around and get very well compensated for it. I want all businesses to make profit and hire workers, I don't much care for companies that make RIDICULOUS profits on the backs of working people.
You don't seem to think there is any profit that is too much for a company and their stock holders. Both could do quite well with less profit and keep the economy doing well too. They can make plenty of profit without gouging all of us into oblivion.
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What does the Bible say about greed?
America has failed thanks to faux Christians (even if they're just being played for fools).
I just knew MG wouldn't disappoint me with his answer, no profit is big enough for anybody.
That guy is literally a meme.
Wouldn't shock me if he's a bot from our friend in Moscow.
Maximizing shareholder value used to mean over the long term. Now it means this quarter. So all decisions use short term thinking. It’s why we are in this mess.
I understand that it's frustrating to people, but they have the right to govern their corporation as the Share Holders and the elected boards decide. If people don't like it then it's simple don't work for them and don't consume their products.
People are free to seek out alternatives or even pool their money and create their own products.
You do realize they have the right to gouge you if they want to. And if it makes the Investors/Share Holders happy and content then they are going to do so.
Correct... the reason you have a business is to make as much profit as possible. Did you ever turn down a raise?
I do agree with that.... Companies chase short term returns and ignore the long term value's of profit's over the long haul. It creates issues and the best remedy is to stop bailing out companies/banks etc., let them fail and let people suffer the consequences so they will change their practices.
As long as there is a safety net to cover their arse's the cycle wll continue.
Why are we still subsidizing Big Oil $20B a year?? That's crazy.
When we invest in research for alternatives, the right screams bloody murder.
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How would I know if I'm buying gas made from their oil so I can buy somewhere else? That stuff is mixed up all over the world? Where does Munch&Pump get their gas? They have been consistently cheaper than anyone else in around here fora while now.
I don't know anybody that would want to pool their resources with my very limited resources to drill for oil anywhere. If they did they'd be getting the short end of the stick for sure.
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Don’t worry they are being bailed out. I find it interesting that SVB is a progressive leftist investment bank that as you stated handed out bonus before the Collapse and the all female led corporate leadership in the last month handed over near 20 million to promote LatinX and other Bs stuff as they couldn’t remain solvent
Buy a EV or research what Gas stations are independent and frequent them. Sticking it to Big Oil is admittedly hard.
Old policy’s that made sure the populace received cheap and reliable energy to grow the economy.
I’d rather invest in Cheap energy than spend billions of my tax dollars on Social Programs that are a complete waste.
I can't see me driving a couple of hours for a basketball game or my grandson's baseball games then go somewhere and set for 2 or 3 hours while my vehicle is charging up to get me back home. If they can't fix the charging time by a LOT I ain't goin there.
Electric Vehicle Charging Speeds | US Department of Transportation
Electric vehicles can be charged using three charging speeds.
www.transportation.gov
Charge time depends on Vehicle and Charger...... it can vary but I understand your issue... I feel the same way that is why I'm all about Big Oil exploration, drilling and their profits. The more they do this long term the cheaper the price of gas at the pump for the consumer.
They've been at it for long time now and they still run price up and down as they see fit.Electric Vehicle Charging Speeds | US Department of Transportation
Electric vehicles can be charged using three charging speeds.
Charge time depends on Vehicle and Charger...... it can vary but I understand your issue... I feel the same way that is why I'm all about Big Oil exploration, drilling and their profits. The more they do this long term the cheaper the price of gas at the pump for the consumer.
I was really impressed with your comparison between my negotiated contract raise every few years and a company that made 161 billion dollars in a single year.
No I did not ever refuse the raises we got in over 30 years but the company always managed to drag it out 2 or 3 years past the expiration time of contracts. They made more than enough money in the extra time we weren't getting a raise to pay for the raise for the entire new contract period. Unlike auto workers and steel workers at other union jobs we could not walk off the job at the end of the day our contract was set to expire and they took full advantage of that.
Never said it is but it is a RECORD profit! In that business that's saying something.
Like I've said before MG doesn't think there is ANY profit that
is too much for the company and their stockholders. I guess quarter pounded should be about $10 so Mickey D's stockholders could get a nice return on their investment. Talk about inflation, if MG had his way there would be no end to the prices anyone could charge, but just to make more for their stockholders of course.
When poorly conceived govt policies and anti-cheap energy policies are the vogue of administration then I'd think some griping is warranted.
Companies will charge what the market can handle. If the price get's to outrageous for the consumer they find alternatives, change their lifestyles in consumption or make do without a Fast Food burger etc.Like I've said before MG doesn't think there is ANY profit that
is too much for the company and their stockholders. I guess quarter pounded should be about $10 so Mickey D's stockholders could get a nice return on their investment. Talk about inflation, if MG had his way there would be no end to the prices anyone could charge, but just to make more for their stockholders of course.
You clearly want some type of govt intervention and price control to artificially control the economy because you FEEL that companies shouldn't make Big Profits. Stockholders and investors only goal is to make as much profit as possible.
It's not complicated if you want burgers to go down or gas..... reduce the demand for said product.... or create a cheaper alternative to compete with that product.
It's record profits for all oil companies.
And you pass the blame to the other team.
You are the problem
You are straight up nuts about this subject. If all companies thought like you we all be in the poor house. There some things we just can't do without but for you it's ok to keep gouging us because we have to have it. There is a difference in making good profits and making record profits every year. They don't have to do that make plenty of money to go around and not drain the resources of all of us.
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You gotta understand memeboy is posting exactly what the other trumpbots do on all the other political forums.
They say it's great that oil is making profits then whine about gas prices being high.
He's just regurgitating what he's fed.
Big Oil like any Big Corporation makes decisions that are a benefit to them aka investors/shareholders for the long term ability to make profits. When you have a administration that is going after them to hurt their long term profitability and viability as a company then a counter reaction is going to happen.
So yes the blame is laid at the Feet of the Administration.... if Biden and His handlers where Pro Cheap Energy for the Average Citizens they would have different policies and Vastly different talking points. Investors and Big Oil would be reacting differently.
It's a Strange mindset that you believe Big Oil and their Shareholders should artificially reject Profit and instead redistribute the Wealth they would earn per decreased prices to the Consumer because Some People think those Record Profits are in bad taste.
Yes all companies try to make as much profit as possible..... Even the RR is in the Business of making as much money as possible.. Same as Hollywood, the Car industry, Big Tech and Big Pharm. .... Why are you not upset at the Insane gouging from Big Tech. for phones that are made for less than a few dollars and you are charged Hundreds of dollars or the Insane cost of the web when the Govt often pays for the infrastructure?
You call it gouging most logical people call it the Market and it's reaction to the current state of affairs.
And do just a bit of research the Oil industry does not make Record Profits every Year.
Big Oil lost money in 2014/2015/2020.....
https://www.forbes.com/sites/rrapie...-why-do-they-ever-lose-money/?sh=336d2f15cf9d
Please don't self insert your own limited view point and actions into my post's... I understand you cannot help yourself in doing so because you have a linear thought process and a tunnel visioned world view which makes you incapable of understand anything outside your small bubble of experiences and emotional beliefs.
I dislike gas pricing being high because I know that Biden is a nitwit and his policies are directly effecting Big Oils decisions because the are legally bound to make as much profit as possible for their shareholders.
I'm just pointing out what I know is fact that trying to earn as much profit as possible is the responsibility of all Corporations and that those corporations respond to hostile Administrations. That is how the system works and how the system has always worked.
If a Person ignores the historical history context of this process that is upon them. You do realize that Oil is sold on the Open Market? Oil companies don't set the price of oil.
Now if you want to rip on Oil Futures, Options and Speculation practices and how that can effect the price etc. we might have common ground.
But This is not some simple Oh Big Oil is bad they are making to much Profit for their Shareholder and they should be ashamed of themselves and stop doing so because the Consumers are having to pay more at the pump.
So in one breath you say this... But then you also say this below?
Unlike you I actually own oil wells, and the policy has not changed as much as you would like to think, yes there has been talk but the dems don't even control both both houses to get anything pushed thru. We just have chosen not to pump as much and are making a lot more. Simply put demand is up and we are able to make more profit per barrel than we were 4 years ago by pumping less. So please let me know the exact policy you are speaking about, that has made us chose to pump our already drilled and paid for wells at 50% versus 89% before the pandemic?
Here is some interesting production numbers along with profits, its not policy it is profit. The oil is still there oil companies are just not producing. And I am not saying companies don't have a right to make profit, just saying that right might not be good policy....Greed is what causes downfalls.
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I'm talking mostly about the Market....... and Speculation, Options, Futures etc. His rhetoric has driven the Market into a bit of a Frenzy. His continued attack on the industry drives fear about the long term viability of the industry and thus increases the price....
I also know that His transportation policies or lack there of have effected the Supply chain to bring he Raw materials to the Companies that Drill wells. This has been well reported as well.
A President and a Administration who openly attacks it's necessary cheap energy source will Get the Response that you pointed out!!! Reduced Production to reign in cost's and to Increase all Profit margins before the Possibility of Over Regulation, Taxation, and Climate Fee's are enacted. Biden's Hostile Attitude toward the industry has had a effect.
I'm paid $2.99 yesterday, not terrible. I predicted last year that $3 gas will be the new normal. If you look at the fluctuation of gas prices over the past 30 years, prices spike from global events - Iraq war, 9/11, '08 recession, covid, etc. Prices take a big spike and slowly drop until the price reaches 20-25% above the previous normal. Prices never drop to the price as before whatever global event took place.
The national gas price ave in pre covid Jan 2020 was $2.63. Today it is $3.43. I expect it to drop another dime or two. Around here, we are getting use to gas in the $2.79 to $3.11 range. Big Oil knows we will tolerate that price without affecting our consumption and maximize their profits. I think we are just about seeing our new normal.
The national gas price ave in pre covid Jan 2020 was $2.63. Today it is $3.43. I expect it to drop another dime or two. Around here, we are getting use to gas in the $2.79 to $3.11 range. Big Oil knows we will tolerate that price without affecting our consumption and maximize their profits. I think we are just about seeing our new normal.
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