Exxon profits are up!

[FleetsidePaul]

Originally Posted by KW5413

Yep. I picked up Tesla in March of 2020. I ain't crying but, I wish Elon would keep his mouth shut.

I am not an EV fan either. They are one-way vehicles as far as I am concerned. The time will come when people start on the Lithium mines for making too much $$$$!

And I can't even spell craptoe currency...

I have trouble with it myself.

Musk is a bit of a whack job but most people that are uber smart are. He didn't get so rich by being dumb.

EV's and Crypto are coming and all the hollering and complaining aint gonna stop them. I don't like it. I think they're dumb but I don't like my ex wife either. She's dumb and makes no sense but she's not going away anytime soon. Sometimes you just gotta live with it.

[special-K]

Originally Posted by tim71

I sorta agree, the only problem is that one side (electric) has an awful large amount of help with their merit. I may be wrong, but I think the vast majority of EV's are purchased by people who are generally well off. The government gives these people $7500 to buy an EV, while people in lower economic classes sruggle to afford a used car. The whole system is corrupt. Why should my tax dollars go to some rich guy who buys an EV?

For electric to win out over gasoline on it's own merit means it has to be better for everyone. What the government does is another animal that has nothing to do with "by it's own merit". That's "with the assistance of the government".

For there to be mandates planned when EVs are still in the development stage with only well off people driving the prototypes is certainly putting the cart ahead of the horse.

Accelo, yeah.

[Thealien]

Other than the grid and other shortcomings of EVs like range and charge times. Rarely do we hear the discussion of the cost of replacing the batteries and the problem with recycling and or disposing of those batteries. 30 to 50 years ago it was common to replace an engine in a car after 10 years/100,000 miles.

It shouldn’t be too long now before we start hearing about people complaining about the cost of replacing the batteries in their electric vehicles. Internal combustion engines last 200 to 300,000 miles these days. That is often 20 years give or take. Some of these electric vehicles aren’t going to be worth the cost of replacing the batteries in my humble opinion.

The electric vehicles are not all that common yet in places like California are asking them not to charge their cars because the grid can’t handle it. What will we do when there’s 10% or 20% of the vehicles operating or electric? It will never be 100%. And are we going to have electric cargo ships and airplanes? I’m not flying in one.

[Boog]

And not to forget the problem with putting an EV fire out. Reported earlier this week was another one in Cali that took 6,000 gallons of water to put out. Way more if the car was in the garage attached to the house.
Nope nope nope, the world ain't ready for all EV.

[DeadheadNM]

Meanwhile, British Petroleum looks to cut investments in renewable energy to boost profits: https://www.barrons.com/articles/bp-...gy-51675261526

“BP has lagged U.S. oil majors in recent years, with the underperformance often blamed on renewable investments at the expense of maximizing profits in oil and gas, where it has a competitive advantage.”

[special-K]

^^^ And there we find one big reason we see the mandates. Can't leave the responsibility to oil companies with one goal in mind, profit.

In Frederick, MD Solarex built a solar facility to make photovoltaic cells, as I recall, in 1980 (43 years ago). That was the first I learned about making electricity from the sun's energy. I had been working for a builder who did passive solar homes, which meant just heat from the sun, the first solar technology. I-70 runs right past the place and you get a full view of it. At some point in the 2000s BP bought Solarex out and right away began construction on an big addition. Before it was completed it started being dismantled, and next came the original facility. Nothing there now. The word was that foreign competition had come along producing cheaper cells so BP was consolidating it's headquarters to a location in Texas. But it sure did seem like BP Solar bought up Solarex just to shut them down. All that investment into buying a leading high tech business at the base of the immensely growing field of solar energy production market, then tear it down claiming foreign competition. You'd think before investing BP would have done a little market survey. I'm sure they did. When you look at all the profit from oil production I guess that money was a drop in the bucket worth investing to keep that bigger train rolling.

[Bigdav160]

Govco has made some idiotically stupid policy decisions lately.

Exxon is a publicly owned company so those "excess" profits will be paid back in the form of dividends to the stock holders. Thank You!

Everything around us is made from petroleum. We should be kissing their feet rather than demonizing them.

[Dirt's72]

Originally Posted by DeadheadNM

I bet Phizer made more

It will be interesting to see if Thailand gets their money back.


https://www.youtube.com/watch?v=vIFYPY27lsU

https://twitter.com/KanekoaTheGreat/...80186226098177

[67C10Step]

The CEO of Toyota gets it and isn't afraid to put it out there. Maybe I find this so refreshing because this has been my line of thinking for a long time.

https://nam04.safelinks.protection.o...%3D&reserved=0

[57taskforce]

Originally Posted by Bigdav160

Govco has made some idiotically stupid policy decisions lately.

Exxon is a publicly owned company so those "excess" profits will be paid back in the form of dividends to the stock holders. Thank You!

Everything around us is made from petroleum. We should be kissing their feet rather than demonizing them.

I appreciate that sentiment. I work in oil and gas and it is very much my livelihood. Thank you! Not to start trouble here but in some ways it gets really really old hearing and reading threads like this. No offense to Boog or anyone else, but with out us out here busting our asses to make sure you’ve got the oil and natural gas we need everything would grind to a halt right here right now. There’s not a single aspect of your lives that isn’t touched by oil. If the supply was higher the profits would be lower, AHEM Washington-specifically the big guys house on Pennsylvania Avenue. I can tell you all first hand that it’s gotten harder to drill because of permitting and harder to produce wells because of fugitive methane emissions regulations at the state and federal levels. There’s a lot more I can say and I have on here in the past but I’m not going to do it. It’s a waste of my time, I’ve got nascar to watch. The ones who get it get it, and the ones who don’t likely never will. No one particular in mind with that statement so if one takes it personal that’s on them.

[davischevy]

Way back Yonder I bought Chevron stock Marathon Oil stock and Tesla stock. I don't really see the point in this whole discussion. I'm pretty happy.😁😁

[FleetsidePaul]

Originally Posted by davischevy

Way back Yonder I bought Chevron stock Marathon Oil stock and Tesla stock. I don't really see the point in this whole discussion. I'm pretty happy.😁😁

Sounds like you've got your bases covered Larry.

It's like dating three girls. If one goes bad on you then you always have the others.

[franken]

It might be educational to check what products are made from oil and wonder what would happen if the ceased to exist. Naa, not important.

[Richard]

Originally Posted by 67C10Step

The CEO of Toyota gets it and isn't afraid to put it out there. Maybe I find this so refreshing because this has been my line of thinking for a long time.

https://nam04.safelinks.protection.o...%3D&reserved=0

Looks like the Toyota ceo was replaced with a compliant person from Lexus. The powers that be will get there way. Our votes do not matter anymore.

[special-K]

Originally Posted by Bigdav160

Exxon is a publicly owned company so those "excess" profits will be paid back in the form of dividends to the stock holders. Thank You!

Everything around us is made from petroleum. We should be kissing their feet rather than demonizing them.

Yeah, people with the expendable income it takes to buy stocks with should be happy. Oil stocks are an obvious investment, an industry set to profit no matter what. There tends to be resentment when all around us prices are skyrocketing, digging deeper into our pockets, and we see a prime industry reporting record profits on the product we all have no choice but to pay the price for at least once a week.

Everyone gets that about everything we use has petroleum product in it. So the cost of the items is also affected by oil price. It's part of the inflation that has been hitting us. "We should be kissing their feet" is how I see the industry's attitude and I feel we do kiss their feet. The oil industry has a huge responsibility in what they supply. A lot more than making money. There are many other concerns involved and the result is regulations enforced, also as a responsibility to the public. Self-regulation is always best but in it's absence come new regs. Should fugitive methane emissions be released freely, for instance? We demonize the gov't for regulations on oil production but it's not like they aren't in bed with each other with more sweetheart considerations given and protections than the negative we tend to focus on.

[57taskforce]

Not sure how expendable income really relates… as said above if you’ve got a 401K you’ve likely been a beneficiary of there profits. That post goes around in circles more than the cars in yesterdays Busch light Clash at the LA Coliseum. There was 7-8 hours of racing that’s a lot of circles… I’m still trying to figure out what your point is.

[DeadheadNM]

"We're going to need oil for at least another decade." at least

[68bowtie]

“Profits” are not inherently bad. Just because we are jealous.

The problem is not profits.

The problem is not solely regulations.

The problem is government-corporation corruption. Lobbyists control the government, not the people.

The solution is most certainly NOT blanket “regulations” or “taxes”.

The solution is Free Market. That’s the only way prices come down.

The government should focus on making sure corporations operate fairly. That’s it.

It’s rigged, them against us.

The medical industry is the same. Look how we “punished” them with obama care. Er I mean punished us, their profits somehow went up there too!

[truckin 79]

The wife and I own mineral rights in Oklahoma and we see monthly checks from various companies. That total around 8-10k a year and has not changed for the last 8-10 years. Wither gas is near 5 dollars a gallon or 2 dollars at the pump , so we are not seeing the difference. The explanation from one person we dealt with told us oil costs the same getting it out of the ground, the profit is when it is sold. We get offers all the time to buy our mineral rights but not nearly as many to lease. So pretty easy to see who gets the profits from the oil being produced. It amazes me people blame everyone for high gas prices but the oil companies themselves. Oil is in every product from plastics to make-up so they are making profits regardless. I am all for companies making a profit but to keep supply low to inflate the price is wrong, that is what OPEC has been doing. Not to mention Exxon a billion dollar company paid less then 3% in taxes. So lets not prop Exxon up as some kind of victim of the Government.
https://www.americanprogress.org/art...income%20taxes.

[DeadheadNM]

Originally Posted by truckin 79

https://www.americanprogress.org/art...income%20taxes.

Some context on the source of the article you have linked HERE

"The Center for American Progress (CAP) is a public policy research and advocacy organization which presents a liberal[2] viewpoint on economic and social issues. It has its headquarters in Washington, D.C.

The president and chief executive officer of CAP is Patrick Gaspard, a former diplomat and labor leader, who served most recently as the president of the Open Society Foundations.[3] Gaspard succeeded Neera Tanden, who was appointed special advisor to President Joe Biden in May 2021. Tanden previously worked for the Obama and Clinton administrations and for Hillary Clinton's campaigns.[4] The first president and CEO was John Podesta, who has served as White House Chief of Staff to U.S. President Bill Clinton and as the chairman of the 2016 presidential campaign of Hillary Clinton.[5] Podesta remained with the organization as chairman of the board until he joined the Obama White House staff in December 2013. Tom Daschle is the current chairman."

[dieseldawg142]

Originally Posted by DeadheadNM

Some context on the source of the article you have linked HERE

"The Center for American Progress (CAP) is a public policy research and advocacy organization which presents a liberal[2] viewpoint on economic and social issues. It has its headquarters in Washington, D.C.

The president and chief executive officer of CAP is Patrick Gaspard, a former diplomat and labor leader, who served most recently as the president of the Open Society Foundations.[3] Gaspard succeeded Neera Tanden, who was appointed special advisor to President Joe Biden in May 2021. Tanden previously worked for the Obama and Clinton administrations and for Hillary Clinton's campaigns.[4] The first president and CEO was John Podesta, who has served as White House Chief of Staff to U.S. President Bill Clinton and as the chairman of the 2016 presidential campaign of Hillary Clinton.[5] Podesta remained with the organization as chairman of the board until he joined the Obama White House staff in December 2013. Tom Daschle is the current chairman."

i see no context at all.
who cares who wrote it, facts are facts.
if you can't accept those facts, then don't complain about how much tax you pay, or how much we are getting shafted at the pumps.

[DeadheadNM]

Originally Posted by dieseldawg142

i see no context at all.
who cares who wrote it, facts are facts.
if you can't accept those facts, then don't complain about how much tax you pay, or how much we are getting shafted at the pumps.

I'm not convinced those are facts and have reason to suspect there is bias but am open to reading an article from a non-partisan, objective source. Can you provide that?

[57taskforce]

Originally Posted by dieseldawg142

i see no context at all.
who cares who wrote it, facts are facts.
if you can't accept those facts, then don't complain about how much tax you pay, or how much we are getting shafted at the pumps.

If Steve Bannon just as an example wrote it, would you see it any differently? “Facts” are not always facts.

[special-K]

Originally Posted by 57taskforce

Not sure how expendable income really relates… as said above if you’ve got a 401K you’ve likely been a beneficiary of there profits. That post goes around in circles more than the cars in yesterdays Busch light Clash at the LA Coliseum. There was 7-8 hours of racing that’s a lot of circles… I’m still trying to figure out what your point is.

Sorry, but I tried to keep it simple so all could understand. Expandable income is what it takes to buy stocks. Not sure what reference to 401ks you are referring to that I wasn't. Maybe it's being unwilling to understand that is the issue here.
I have worked in the building industry all my life, with most of that time being a small business. We are heavily regulated, too, and it's small businesses that are hit the hardest by those. Housing is also a thing that is very important to everyone. Regulations account for 40% of the cost of building a home these days but we still build them and try to make our money in spite of all. 401Ks aren't exactly plentiful among construction workers, so nothing to relate there.
All Boog did was report profits are up for Exxon. Just a fact. It's a fact I'm used to hearing. Seems to be the case every year. I'm tired of hearing our government being demonized. Especially when it comes to their relationship with big oil. Let's talk about all the perks given the oil industry as well. Now there's a circle for you. Back to record annual profits

[68bowtie]

Originally Posted by truckin 79

So lets not prop Exxon up as some kind of victim of the Government.

Literally no one said that. The government and corporations are in bed and WE are the victims. My point is our enemy is not the oil companies, just because you don’t like them making profits. Monopolies like OPEC should not be allowed to exist and have the control they do, for just the reasons you say. That’s where government can actually help, to ensure there is a free market.