Worst administration ever. Worst business leaders ever. I hope something can change.
Most corrupt administration. Hope all these guys do hard time.
Oil companies report sky-high profits thanks to wartime crude prices
31–40 of 88 posts
Re: Oil companies report sky-high profits thanks to wartime crude prices
#32Earlier quoted context omitted.
WTF do you drive, a RAM 2500? If the gallon is $4, the $350 is 90 gallons.
A RAM 2500 gets 12 city. 40 miles city per day over a month would be 100 gallons, which at today’s average price in California is $565.20/mo They’re doing a bit better than that.
Re: Oil companies report sky-high profits thanks to wartime crude prices
#33Why don't I hear anyone mentioning "Windfall profits tax" Are oil companies immune from legislation under the current administration?
The whole point of this war is to make money on oil.
The war with Iran right now is the culmination of the war in Gaza. These are two battlefields in a larger conflict - the belligerents are Iran and its proxies (Hamas, Hezbollah, the Houthis) versus everyone else in the region.
Iran escalated the conflict (which previously was only simmering and involved occasional missile attacks on Israel) with the 10/7 attacks in response to Saudi Arabia and other regional powers normalizing relations with Israel. They did not properly account for Israel being led by warmongering right-wingers, nor did they account for the US being led by a geriatric man who seems like he might have dementia. They assumed, incorrectly, that the US would continue to be led by reasonable people who weighed the risks of closing the Strait of Hormuz (earthshattering) against the risks of continued Iranian-funded terrorism in the region (Israel gets more bad press and has to keep spending money on missile defense).
The goals of this war, in a geopolitical sense, are to force Iran to abandon its proxies and to lead to regime change in Iran. The fact that the current US administration is made up of morons who should never been placed in power doesn't change that. The goals of any war are best explained by geopolitical factors and not whoever is in charge, because geopolitical factors are real and enduring while presidents and kings change often.
If anything, Trump's only pressing need at the moment is to get oil prices down so that the GOP isn't completely blown out in the midterms by $6/gal gas prices. Oil companies making money is not the cornerstone of US foreign policy, no matter how often people like citing it.
This isn't going to happen because Hormuz is likely to be closed for years to come. Eventually domestic economic pressure will force Iran to the negotiating table; the regime needs to sell oil almost as bad as Trump needs low gas prices. God willing all of the parties involved will have better leadership by then.
Re: Oil companies report sky-high profits thanks to wartime crude prices
#34Earlier quoted context omitted.
Yeah I drive about 40 miles a day and pay about $20 per month. I would have had to pay $350/month or so with an equivalent gas vehicle.
WTF do you drive, a RAM 2500? If the gallon is $4, the $350 is 90 gallons.
Re: Oil companies report sky-high profits thanks to wartime crude prices
#35Before 2008 oil was above 100$ per barrel, and dollar was worth a lot more back then.
[1] https://www.cbsnews.com/news/oil-prices-top-100-for-first-ti...
Re: Oil companies report sky-high profits thanks to wartime crude prices
#36They can go even higher if we make more war
Re: Oil companies report sky-high profits thanks to wartime crude prices
#37Re: Oil companies report sky-high profits thanks to wartime crude prices
#38Before 2008 oil was above 100$ per barrel, and dollar was worth a lot more back then.
Re: Oil companies report sky-high profits thanks to wartime crude prices
#39Before 2008 oil was above 100$ per barrel, and dollar was worth a lot more back then.
Is your point that such historical prices only occur when the shit is hitting the fan? Because the first time oil ever went above $100 was at the start of the 2008 financial crisis... [1] https://www.cbsnews.com/news/oil-prices-top-100-for-first-ti...
Re: Oil companies report sky-high profits thanks to wartime crude prices
#40Just for perspective, Nvidia's daily profits for the past quarter are $641 million. For Apple it's $327 million.