A look at supply, demand, historic pricing, profits, oil industry surveys, and earnings calls, shows production and inflation don't explain the prices. The answer reveals a future economic threat.
What about other firms that do buy-backs? That is standard practice across industries. Completely irrelevant to the discussion. For example, Apple and other tech companies keep money offshore to avoid US taxes .Profits are the purpose of our capitalist system. Why shouldn't shareholders get profits? Investors who lost money with shale build out (billions) have never been compensated. Oil companies did not receive stimulus during covid when oil went negative. Exxon invested 118B on new oil supplies, 2x the net profits of 55B. https://corporate.exxonmobil.com/News/Newsroom/News-releases/2022/0615_ExxonMobil-statement-regarding-President-Biden-Letter-to-Oil-Industry
Investors are NOT guaranteed to be reimbursed. When did this become expected???? Companies act like taking a loss is not part of normal business. Investors take risks, and sometimes they lose their ass. Meanwhile, the people who aren’t billionaires pay for their greed. How dare you defend this nonsense.
So why do people complain when they have profits? You can't have it both ways. People pay for goods based on market price. An iphone is produced for less than 1/2 the sale price in shitty conditions by western standards. Where is your outage on that, todd? Drive an electric car and heat and cool with electric if you want to stick it to the big greedy oil cos. Also hand over your plastic goods too.
What about other firms that do buy-backs? That is standard practice across industries. Completely irrelevant to the discussion. For example, Apple and other tech companies keep money offshore to avoid US taxes .Profits are the purpose of our capitalist system. Why shouldn't shareholders get profits? Investors who lost money with shale build out (billions) have never been compensated. Oil companies did not receive stimulus during covid when oil went negative. Exxon invested 118B on new oil supplies, 2x the net profits of 55B. https://corporate.exxonmobil.com/News/Newsroom/News-releases/2022/0615_ExxonMobil-statement-regarding-President-Biden-Letter-to-Oil-Industry
Investors are NOT guaranteed to be reimbursed. When did this become expected???? Companies act like taking a loss is not part of normal business. Investors take risks, and sometimes they lose their ass. Meanwhile, the people who aren’t billionaires pay for their greed. How dare you defend this nonsense.
So why do people complain when they have profits? You can't have it both ways. People pay for goods based on market price. An iphone is produced for less than 1/2 the sale price in shitty conditions by western standards. Where is your outage on that, todd? Drive an electric car and heat and cool with electric if you want to stick it to the big greedy oil cos. Also hand over your plastic goods too.
Misinformed no more!
Appreciate the depth of the research and will share as often as I can to those who are misinformed, of which there are many.
Thanks for the kind words. Writing this was a lot of work but feeling confident in what is and is not driving this was important.
I’ll do my best to share your work. Much appreciated.