How can there be a “war on energy,” as some Republican Congressmen claim, when Exxon profits went up 281% from this time last year?

[basquebromance]

these people at the top who have never had it so good don't deserve it and they need to share the pizza slice with the rest of us...where's my slice of pizza?

 

[martybegan]

these people at the top who have never had it so good don't deserve it and they need to share the pizza slice with the rest of us...where's my slice of pizza?

Percentages are meaningless. What were the actual values?

If a multibillion dollar company only made say $20M in profits, a threefold increase would be $60M.

Not much compared to their gross sales.

 

[Dekster]

Percentages are meaningless. What were the actual values?

If a multibillion dollar company only made say $20M in profits, a threefold increase would be $60M.

Not much compared to their gross sales.

$17.9B vs. $4.7B

 

[martybegan]

$17.9B vs. $4.7B

So that's basically a recovery from a light year I guess.....

 

[hadit]

these people at the top who have never had it so good don't deserve it and they need to share the pizza slice with the rest of us...where's my slice of pizza?

The high prices are partly due to the war Quid Pro Joe declared on cheap, reliable forms of energy storage. When he helps make something less available, its price goes up and so do the profits of those who are selling it. IOW, this is an easily anticipated (though not by democrats who never seem to think beyond right now) result of Quid Pro's actions.

For the terminally uninformed, when the American president announces that he intends to kill an industry, speculators rush to buy, knowing that the supply will be getting choked off. This jacks prices even higher than they were. Likewise, when it becomes apparent that the American president will fail in his attempt, the speculators sell to avoid losing their investments when the supply increases, thus dropping the prices even further.

 

[Remodeling Maidiac]

If you need this explained to you, you don't belong on this forum

 

[Remodeling Maidiac]

So that's basically a recovery from a light year I guess.....

It's also irrelevant to the question posed in the op.

 

[martybegan]

It's also irrelevant to the question posed in the op.

It's 100% relevant because percentages are meaningless in this case. If they are recovering from dropped profits in lean years back to average or even slightly above average, the increase is meaningless.

The OP is trying to make them look greedy. What is $17.9 billion in profits compared to their gross revenue?

Their operating revenue 286 Billion in 2021, so it's a profit margin of 6.2%, hardly extravagant.

 

[hadit]

It's 100% relevant because percentages are meaningless in this case. If they are recovering from dropped profits in lean years back to average or even slightly above average, the increase is meaningless.

The OP is trying to make them look greedy. What is $17.9 billion in profits compared to their gross revenue?

Their operating revenue 286 Billion in 2021, so it's a profit margin of 6.2%, hardly extravagant.

Everybody wants to share in the profits, no one wants to share in the losses.

My response to the OP is, when you agree to help subsidize massive energy companies in years when they post losses, we'll talk about you getting a slice of pizza.

 

[Bootney Lee Farnsworth]

Percentages are meaningless. What were the actual values?

If a multibillion dollar company only made say $20M in profits, a threefold increase would be $60M.

Not much compared to their gross sales.

Don't explain complex concepts to simpletons. It will do no good and only waste your time.

 

[Remodeling Maidiac]

It's 100% relevant because percentages are meaningless in this case. If they are recovering from dropped profits in lean years back to average or even slightly above average, the increase is meaningless.

The OP is trying to make them look greedy. What is $17.9 billion in profits compared to their gross revenue?

Their operating revenue 286 Billion in 2021, so it's a profit margin of 6.2%, hardly extravagant.

It is not relevant to the question posed. The "war" on energy has nothing to do with profits or losses.

 

[martybegan]

It is not relevant to the question posed. The "war" on energy has nothing to do with profits or losses.

The thing is when you constrict SUPPLY like the US Government is doing, you get increased COSTS, and someone is going to make that money.

If renewables were taking over, and if the governments weren't HOSTILE to fossil fuels they would be losing money, or showing normal to lower profits.