Big oil price gouging?

ExxonMobil reported a net profit of $5.5 billion, more than doubling its earnings from the year-ago period. Shell notched its strongest quarterly profit ever, and Chevron posted its best earnings quarter in nearly a decade.

The latest round of quarterly earnings shows the industry enjoying a bonanza, and as Americans' pain at the pump intensifies, scrutiny over those profits is likely to get even more intense.

The measure was approved, 217-207. Republicans unanimously opposed the bill

as approved, 217-207. Republicans unanimously opposed the bill

Trapper Gus wrote:Clearly they are. When profits make up over 50% of the cause of increased prices what else can it be called.

Btw, much of the increased prices in other goods are due to energy prices, so this has an inflation multiplier effect.

There was an Economist interviewd on.NPR's show, On Point, yesterday who says that for the past 40 years the US "free market" has turned into more of a monopoly market for each good or service and market fagility is the result, where one companies actions cause market shortages that cannot be managed via "free market" principles.

sεяεηιτλ wrote:

Trapper Gus wrote:Clearly they are. When profits make up over 50% of the cause of increased prices what else can it be called.

Btw, much of the increased prices in other goods are due to energy prices, so this has an inflation multiplier effect.

There was an Economist interviewd on.NPR's show, On Point, yesterday who says that for the past 40 years the US "free market" has turned into more of a monopoly market for each good or service and market fagility is the result, where one companies actions cause market shortages that cannot be managed via "free market" principles.

It's all politics at this point. These companies like republicans for some reason, they are trying to harm democrats because so much consumer sentiment is tied up in gas prices. utterly unamerican

sεяεηιτλ wrote:

as approved, 217-207. Republicans unanimously opposed the bill

Surprise! Republicans love harming the american people for political benefit.

They are obviously using the gas situation to harm democrats/Biden presidency.

They are so god damn unamerican

NumbersDude wrote:Time to get EVs poors.

Oh wait Musk is anti leftist.



Instead of complaining do something about it- oh wait let the .gov handle it. Lol.

Let see, limit oil production in the US, I wonder what it will do to fuel prices in the US. Lol.

NumbersDude wrote:

sεяεηιτλ wrote:

It's all politics at this point.  These companies like republicans for some reason, they are trying to harm democrats because so much consumer sentiment is tied up in gas prices.  utterly unamerican

Hahahahahahah

Never change man.

“ its a political tactic to make my guy look bad!”

You are a college grad?

You sound exactly like a Q-Tard.

The irony.

https://www.bloomberg.com/news/articles/2022-04-05/the-four-key-contributors-to-america-s-soaring-gasoline-prices

sεяεηιτλ wrote:

NumbersDude wrote:

Hahahahahahah

Never change man.

“ its a political tactic to make my guy look bad!”

You are a college grad?

You sound exactly like a Q-Tard.

The irony.

https://www.bloomberg.com/news/articles/2022-04-05/the-four-key-contributors-to-america-s-soaring-gasoline-prices

Do you know what "profit" means? "Shell notched its strongest quarterly profit ever"

My lord, it means that those excuses in the article you posted are a bunch of BS because profit is tallied AFTER costs. Seriously, that article literally sounds like it was directly written by big oil.

If everyone was running around saying they are posting record revenue and pretending like it is bad, then you might have a point.  but that's not what is happening. They are making boat loads of cash after all those "marketing" expenses they incur, which happens when you are selling product for much higher than you used to while simultaneously not paying a commiserate amount in expenses.

I would like you to change your level of intellect, but it seems MSU failed in giving you the tools to learn. Please stop devaluing my degree.

kingstonlake wrote:So we’ve made up a story about the government limiting production and praised high prices for profit all in the same breath?

Glory.

Trapper Gus wrote:

NumbersDude wrote:

Must be a republican nazi racist sexist plot to destroy the planet to make Biden look bad so there will be russian collusion on 6 january christians bad? All masterminded by Trump?

To ignore the links between dirty energy and the Republican Party is just as stupid as to claim they have a central command where everything is controlled.

Why do you think dirty energy has been funding the Republican Party for years and years if not to gain economic favors, like when Trump, in April of 2020, threated the Saudis with removing the US military protection from them unless they cut production, which he did so that the US dirty energy industry didn't suffer higher losses than they did.

There is no love lost between the dirty energy industry and the Democratic Party and they are actively supporting replacing Democratic officials with Republicans and/or trying to keep Democratic officials from being appointed to positions which affect their businesses by slow walking Seante confirmations.

kingstonlake wrote:So we’ve made up a story about the government limiting production and praised high prices for profit all in the same breath?

Glory.

NumbersDude wrote:

kingstonlake wrote:So we’ve made up a story about the government limiting production and praised high prices for profit all in the same breath?

Glory.

Must be a republican nazi racist sexist plot to destroy the planet to make Biden look bad so there will be russian collusion on 6 january christians bad? All masterminded by Trump?

NumbersDude wrote:

kingstonlake wrote:So we’ve made up a story about the government limiting production and praised high prices for profit all in the same breath?

Glory.

I guess you are the guy that thinks he can cool his house by just running the AC in the basement right? So logic might not be a strong point with you so I dug up this pictorial diagram.

Keep in mind supply and demand.

kingstonlake wrote:

NumbersDude wrote:

I guess you are the guy that thinks he can cool his house by just running the AC in the basement right? So logic might not be a strong point with you so I dug up this pictorial diagram.

Keep in mind supply and demand.

No, I asked because I wasn’t sure and/or know very little about hvac. Is comprehension really that hard?

kingstonlake wrote:Numbers seems a little edgy since he has to show his true colors via numbers guy and not his shtick that got nuked.

Trapper Gus wrote:

NumbersDude wrote:

D or R. It doesnt matter. They want us to fight each other while they get rich.
Every disaster, every crisis politicians and their buddies take advantage of americans fears and anxiety to maximize profits.

Fairly cynical viewpoint, Dude.

Maybe it is how the free market works without a constraint on profits beyond what the market can pay. In other words it isn't the people running things so much as the structure of the system.

Trapper Gus wrote:

NumbersDude wrote:

This name sucks. 2621 is more efficient to write and a numbers dude T-shirt does not look as cool.

Dude, this isn't TOB.  

HM gave you the choice of which one to keep, but you didn't respond.  You can PM him and tell him you want to use 2621 and he most likely will agree and switch it to active while shutting NumbersDude off.

It may take a few days, he isn't on here 247

Trapper Gus wrote:

NumbersDude wrote:

I am strangely ok with the “price gouging” but against government intervention to control the market.

See the game Trapper.

1. Crisis
2. Companies maximize profits during crisis- oil, big pharma, defense
3. Crooks in the .gov lobby for more power and control to “help” the people.
4. Reality- government consolidates power and gains more power with more restrictions. Hence never let a crisis go to waste.

See it now Trapper? I can live with higher fuel prices, as the fluctuate- government never relinquishes power or control. ( Patriot Act)

My point is regarding what you posted, saying both sides are the same. They are not.

Trapper Gus wrote:

NumbersDude wrote:

Since you often use the pronoun “Dude” in your post and I am the only person that regularly replys to most of your post, I suppose this crappy name will make do.

Later Trap I must attend to my avocado grove which is extremely time consuming.

Just pointing out your name is your choice on here 2621, so stop playing the victim card.

NumbersDude wrote:

sεяεηιτλ wrote:

Do you know what "profit" means? "Shell notched its strongest quarterly profit ever"

My lord, it means that those excuses in the article you posted are a bunch of BS because profit is tallied AFTER costs. Seriously, that article literally sounds like it was directly written by big oil.

If everyone was running around saying they are posting record revenue and pretending like it is bad, then you might have a point.  but that's not what is happening. They are making boat loads of cash after all those "marketing" expenses they incur, which happens when you are selling product for much higher than you used to while simultaneously not paying a commiserate amount in expenses.

I would like you to change your level of intellect, but it seems MSU failed in giving you the tools to learn. Please stop devaluing my degree.

Buy an EV. Use less fuel. Guess what? They are in business to make money. You don’t like it? Do something about it. Oh wait you depend on the government to do it for you.

You are forever outraged. How unamerican.
Making money is the American way, its the American dream.
Unamerican communist.

Trapper Gus wrote:U.S. oil refiners’ margins smash records, but few plan to build more plants

Trapper Gus wrote:

sεяεηιτλ wrote:

Still no word from numbers if he understands what profit means. He posts an article claiming marketing expenses are leading to these prices....lol. he should stick to avocado farming

NumbersDude claimed via a PM to me on TOB that both his user names have been banned on this board.