Exxon and Chevron rack up giant quarterly profits.

[blackhawk]

According to Biden a few weeks ago high gas prices were Putins fault he really needs to pick one scapegoat and stick with it. Also when gas prices start to fall Biden never hesitates to take credit for it.

 

[RoshawnMarkwees]

According to Biden a few weeks ago high gas prices were Putins fault he really needs to pick one scapegoat and stick with it. Also when gas prices start to fall Biden never hesitates to take credit for it.

That’s because his voters are democrats. Democrats are retarded baboons.

 

[Polishprince]

Just remember when Fox News tells you that high prices are all Biden's fault, that companies like Exxon and Chevron are merely protecting themselves from him by passing on higher costs to you. It's really Biden's fault.



Exxon Mobil and Chevron, the largest U.S. oil companies, reported on Friday a fourth consecutive quarter of robust profits on the back of high oil and natural gas prices and strong chemical and refining earnings.

But the companies remain cautious as they face uncertain future prices because of a weakening global economy and international conflict.

Exxon’s profit of $19.7 billion from operations topped the previous quarter’s $17.9 billion. The oil giant’s latest quarterly profit was nearly triple what it made in the same period last year. It cited oil and natural gas output as major contributors, along with cost cutting.

The company said its production in the Permian Basin of Texas and New Mexico was its highest ever, as was the volume of its North American refining. “The investments we’ve made, even through the pandemic, enabled us to increase production to address the needs of consumers,” Darren Woods, the chief executive, said in a statement.

The company said it was continuing a policy of disciplined investing, not budging from budget plans set before oil prices spiked following the Russian invasion of Ukraine. Mr. Woods said the company was committed to “rigorous cost control.”

What We Learned About the Economy This Week (Published 2022)

Fresh data on inflation and growth, and actions by policymakers , created a complex picture of the global economy.

www.nytimes.com

Reduction in costs and Liberal-engineered reductions in oil being produced have resulted in higher profits.

I suppose ExxonMobil, Chevron et al could reduce prices- but that would result in massive Carter-style gas lines due to shortages.

 

[gipper]

According to Biden a few weeks ago high gas prices were Putins fault he really needs to pick one scapegoat and stick with it. Also when gas prices start to fall Biden never hesitates to take credit for it.

Apparently it’s now a Putin price cut.

 

[iamwhatiseem]

Just remember when Fox News tells you that high prices are all Biden's fault, that companies like Exxon and Chevron are merely protecting themselves from him by passing on higher costs to you. It's really Biden's fault.



Exxon Mobil and Chevron, the largest U.S. oil companies, reported on Friday a fourth consecutive quarter of robust profits on the back of high oil and natural gas prices and strong chemical and refining earnings.

But the companies remain cautious as they face uncertain future prices because of a weakening global economy and international conflict.

Exxon’s profit of $19.7 billion from operations topped the previous quarter’s $17.9 billion. The oil giant’s latest quarterly profit was nearly triple what it made in the same period last year. It cited oil and natural gas output as major contributors, along with cost cutting.

The company said its production in the Permian Basin of Texas and New Mexico was its highest ever, as was the volume of its North American refining. “The investments we’ve made, even through the pandemic, enabled us to increase production to address the needs of consumers,” Darren Woods, the chief executive, said in a statement.

The company said it was continuing a policy of disciplined investing, not budging from budget plans set before oil prices spiked following the Russian invasion of Ukraine. Mr. Woods said the company was committed to “rigorous cost control.”

What We Learned About the Economy This Week (Published 2022)

Fresh data on inflation and growth, and actions by policymakers , created a complex picture of the global economy.

www.nytimes.com

And then there is the real news....

There revenue only went up by 2.8%.
The higher profits are almost entirely out of less spending than the previous two years.
Capital spending was 33% less.

 

[Polishprince]

And then there is the real news....

There revenue only went up by 2.8%.
The higher profits are almost entirely out of less spending than the previous two years.
Capital spending was 33% less.

Exactly as I would have expected. Biden's decision to cancel expensive programs like ANWR, off shore leases and the Keystone pipeline, have meant a lot less spending by Big Oil.

 

[Stann]

Just remember when Fox News tells you that high prices are all Biden's fault, that companies like Exxon and Chevron are merely protecting themselves from him by passing on higher costs to you. It's really Biden's fault.



Exxon Mobil and Chevron, the largest U.S. oil companies, reported on Friday a fourth consecutive quarter of robust profits on the back of high oil and natural gas prices and strong chemical and refining earnings.

But the companies remain cautious as they face uncertain future prices because of a weakening global economy and international conflict.

Exxon’s profit of $19.7 billion from operations topped the previous quarter’s $17.9 billion. The oil giant’s latest quarterly profit was nearly triple what it made in the same period last year. It cited oil and natural gas output as major contributors, along with cost cutting.

The company said its production in the Permian Basin of Texas and New Mexico was its highest ever, as was the volume of its North American refining. “The investments we’ve made, even through the pandemic, enabled us to increase production to address the needs of consumers,” Darren Woods, the chief executive, said in a statement.

The company said it was continuing a policy of disciplined investing, not budging from budget plans set before oil prices spiked following the Russian invasion of Ukraine. Mr. Woods said the company was committed to “rigorous cost control.”

What We Learned About the Economy This Week (Published 2022)

Fresh data on inflation and growth, and actions by policymakers , created a complex picture of the global economy.

www.nytimes.com

And the Republicans who own them are laughing all the way to the bank because republicans are blaming the Democrats for high gasoline prices.

 

[odanny]

 

[Leo123]

They have Biden to thank. He caused prices to soar.

 

[Stann]

View attachment 721511

At the expense of the rest of US.

 

[Cellblock2429]

View attachment 721511

/----/
1. June 17, 2022 The United States has committed approximately $6.3 billion in security assistance to Ukraine since the beginning of the Biden Administration.
2. Corporations pass taxes on to the consumer in the form of higher prices. How much more do you want to spend for gas to make you feel better?

 

[Cellblock2429]

And the Republicans who own them are laughing all the way to the bank because republicans are blaming the Democrats for high gasoline prices.

/----/ The Gubmint makes more per gallon of gas than the oil companies do.
As of Oct 1, 2022, the total state average gas tax plus Federal gas tax would be 57.1 cents per gallon of gasoline and 64.6 cents per gallon of diesel.

Profit per gallon? Are you talking about the refineries? Oil and Gasoline production? About a nickel per gallon. Then you have retailers, distributors marketers, all getting a penny or two or as much as a nickel themselves.

So which one is making the windfall profit?

 

[odanny]

Corporations pass taxes on to the consumer in the form of higher prices. How much more do you want to spend for gas to make you feel better?

What part of windfall profits do you not understand?

I have to say, with so many people in this country (assuming you are not in Russia, a definite possibility) there are literally millions of people more than willing to carry water for these oil companies, who continue to make record profits while fleecing America.

 

[BS Filter]

Fake News!
Pure bullshit, cult propaganda.

Here is the TRUTH.

WASHINGTON— New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658.

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%

Center for Biological Diversity: Thousands of Permits OK’d Despite President’s Authority to End Drilling by 2035

biologicaldiversity.org

Where's the data for government land drilling?

 

[BS Filter]

What part of windfall profits do you not understand?

I have to say, with so many people in this country (assuming you are not in Russia, a definite possibility) there are literally millions of people more than willing to carry water for these oil companies, who continue to make record profits while fleecing America.

The government makes pure profit off gas tax. What a greedy fucker.

 

[RoshawnMarkwees]

How much longer are you MAGAt Trumptards going to continue trying to spread this FAKE talking point?

The REAL stats on drilling lwases and production are a matter of public redord. A freakin' 5th grader could easily access the real numbers for a class assignment.

Yet....gwre you are.
Desperately clinging to tour "fake news."
And why?

It really makes you look sad and misinformed to choose to remain ignirant when real and accurate information is so easy to access these days.

By November 2021, The Biden Administration Had Already Approved More Oil And Gas Drilling Permits Than The Trump Administration Did Annually For Three Years. The Biden Administration Approved More Oil And Gas Drilling Permits In Ten Months Than The Trump Administration Approved Annually For Three Years. “The Biden administration has approved more oil and gas drilling permits on public lands per month than the Trump administration did during the first three years of Donald Trump’s presidency, according to an analysis shared exclusively with The Climate 202.” [Washington Post, 12/06/21

Biden Approves Hundreds More Drilling Permits Than Trump

The American Petroleum Institute blames environmental protections on high energy prices, while Biden gives Big Oil more drilling permits.

accountable.us

Doesn’t jibe with this report that immediately preceded the increase in cost. That increase still exists. Notice how American Pravda framed it as a ‘climate change’ issue and fails to address the economic hardship it creates…

Biden suspends oil and gas leasing in slew of executive actions on climate change

Biden's orders will halt oil and natural gas leases on public lands and waters in an effort to curb planet-warming carbon emissions.

www.cnbc.com

 

[Polishprince]

What part of windfall profits do you not understand?

I have to say, with so many people in this country (assuming you are not in Russia, a definite possibility) there are literally millions of people more than willing to carry water for these oil companies, who continue to make record profits while fleecing America.

If oil and gasoline prices were capped by the government as you are advocating for, we'd have Carter-style gasoline lines today. How is that "better"?

Would you rather save a little bit of money and have to sit in a long line to get fueled up?

 

[RoshawnMarkwees]

If oil and gasoline prices were capped by the government as you are advocating for, we'd have Carter-style gasoline lines today. How is that "better"?

Would you rather save a little bit of money and have to sit in a long line to get fueled up?

What’s worse is that Nixon did that before Carter and Carter was stupid enough to repeat it.

 

[Polishprince]

What’s worse is that Nixon did that before Carter and Carter was stupid enough to repeat it.

Exactly.

Nixon wasn't the sharpest knife in the drawer, and could have easily been sold a bill of goods by his advisers.

But Carter had the (at that time) recent experience of Tricky Dick, and could see what would happen. And it did.

 

[georgephillip]

From the Golden State:

What is profit per gallon?

NOVEMBER 11, 2022

California Oil Refiners Post Record Profits​

BY DAN BACHER

"As the oil and gas industry pumped nearly $6 million this election season into backing candidates in California legislative races to promote the fossil fuel industry agenda, four of the five big oil refiners in the state posted record profits while Californians are slammed at the pumps with price gouging..."

"California’s five big oil refiner third quarter profits reports are complete — and a Consumer Watchdog review reveals that four of the five together posted 30% higher profits per gallon from gasoline sold on the West Coast than 'anywhere else in the nation or world.'"