Exxon Posts Record Profits

[Lesh]

Exxon Mobil's record $55.7 billion profit last year fuels criticism that it cashed in on war and sky-high gasoline prices

Exxon's bounty came as Americans shelled out more than $5 at one point for a gallon of gasoline.

fortune.com

THAT is why gas prices are so high

Wanna bet that the people bitching about high gas prices will defend this?

 

[Lesh]

Chevron Reports Record-Breaking Profits For 2022 | OilPrice.com

U.S. energy giant Chevron reported its highest-ever annual profits, hitting $36.5 billion on the back of higher oil and gas prices

oilprice.com

Chevron---36 billion

 

[Moonglow]

Yes, inflation is controlled by those who control the game. If they were going broke I could understand their position, but they are not going broke or having lean years which means they are fleecing the consumers.

 

[Lesh]

BP--over 60 billion

BP Gross Profit 2010-2022 | BP

BP annual/quarterly gross profit history and growth rate from 2010 to 2022. Gross profit can be defined as the profit a company makes after deducting the variable costs directly associated with making and selling its products or providing its services. <ul style='margin-top:10px;'>...

www.macrotrends.net

 

[Lesh]

And those profits fuel inflation...both directly and indirectly

 

[Harpy Eagle]

Exxon Mobil's record $55.7 billion profit last year fuels criticism that it cashed in on war and sky-high gasoline prices

Exxon's bounty came as Americans shelled out more than $5 at one point for a gallon of gasoline.

fortune.com

THAT is why gas prices are so high

Wanna bet that the people bitching about high gas prices will defend this?

Damn Biden sucks. So much for killing the oil industry.

 

[Moonglow]

But we can blame Biden for high gas prices and protect the greedy corporations.

 

[Theowl32]

All under your puppet president? The left really are complete dipshits.

Really, why don't I have them all on ignore. Stupid pathetic nazi Ukraine ugly flag too.

What pathetic morons.

 

[Moonglow]

All under your puppet president? The left really are complete dipshits.

Really, why don't I have them all on ignore. Stupid pathetic nazi Ukraine ugly flag too.

What pathetic morons.

 

[1srelluc]

I hope you bought low.

 

[martybegan]

Exxon Mobil's record $55.7 billion profit last year fuels criticism that it cashed in on war and sky-high gasoline prices

Exxon's bounty came as Americans shelled out more than $5 at one point for a gallon of gasoline.

fortune.com

THAT is why gas prices are so high

Wanna bet that the people bitching about high gas prices will defend this?

That's nice for my 401k. Dividends AHOY!

 

[martybegan]

Chevron Reports Record-Breaking Profits For 2022 | OilPrice.com

U.S. energy giant Chevron reported its highest-ever annual profits, hitting $36.5 billion on the back of higher oil and gas prices

oilprice.com

Chevron---36 billion

You know how to lower their profits?

Let them remove more oil from the ground, and move it to market easier.

 

[Moonglow]

That's nice for my 401k. Dividends AHOY!

I have oil royalties which do better with high prices, yet....

 

[pknopp]

Imagine that.

 

[Moonglow]

You know how to lower their profits?

Let them remove more oil from the ground, and move it to market easier.

Nothing is stopping them.

 

[Lesh]

That's nice for my 401k. Dividends AHOY!

So you WANT high gas prices? And the inflation that goes along with that?

 

[martybegan]

Nothing is stopping them.

Except for the whole "kill fossil fuels" movement.

 

[Lesh]

Nothing is stopping them.

Obviously they have the money to exploit those 7,000 viable unused leases and restart those refineries...but hey...when you can make profits like this just by jacking up the price...why bother

 

[Oddball]

"Record profits" in dollars that have never been worth less.

big whoop

 

[pknopp]

Obviously they have the money to exploit those 7,000 viable unused leases and restart those refineries...but hey...when you can make profits like this just by jacking up the price...why bother

To note, oil companies do not directly set the prices. The fundamentals were absolutely no different when oil was at $130 than it is now at $79. The only difference is hedge funds decided to run the prices up.