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Oil companies report sky-high profits thanks to wartime crude prices

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Re: Oil companies report sky-high profits thanks to wartime crude prices

#61

Post by thisislife2 »

bix6 wrote: post #10

Worst administration ever. Worst business leaders ever. I hope something can change.

Depends on the political perspective. Has the US bet all on AI tech to retain its power? Yes. AI tech currently is very energy intensive. So energy infrastructure too needs money to expand. The "colonisation" of Venezuela has already secured the US one relatively cheap and secure source of energy. The Ukraine-Russia war, and now the Iranian war, allows the US to price gauge Europe on the gas it sells them ( https://www.politico.eu/article/vladimir-putin-war-europe-uk... ). The Iran war is also enriching the oil companies. If Iran can be colonised, another source can be secured for the US too. Or so the thinking goes ... (there are of course other political factors that these kind of energy politics helps the US).

Re: Oil companies report sky-high profits thanks to wartime crude prices

#62

Post by api »

bix6 wrote: post #59
vkou wrote: post #41

Earlier quoted context omitted.

I'm pretty sure that Qatar and the Saudis are not exactly pleased with having their stuff blown up.

True but I’ve heard they are in support of Iran getting decimated so they can fill the power vacuum.

So many Americans don't understand that these two "branches" of the Muslim world are at odds as much if not more than Israel and the Muslim world.

That whole region is a mess of deep long-standing divisions.

Re: Oil companies report sky-high profits thanks to wartime crude prices

#63

Post by mullingitover »

fooqux wrote: post #60
AngryData wrote: post #54

Earlier quoted context omitted.

I mean we can't ignore the other side running garbage candidates either. DNC leadership doesn't care as much about their opposition party winning as they care about not losing leadership of their own party. That would mean all the established party politicians would be at risk of losing their job, where as republicans winning means they only lose a handful of positions while bolstering their next campaign season so t…

I think politicians across the board are completely out of touch with the average US citizen. Some more than others, but in general they're from old money, Harvard educated, go golfing with CEOs, etc. It's always been this way, right down to the founding fathers. Which isn't entirely a bad thing. The issues facing the world and the country are so much bigger than they used to be 200 years ago and aren't getting small…

There is one economic class that controls essentially all mass media, and even if their chosen candidates are 'out of touch' they can just blast every channel with propaganda until voters have the slogans burned into their memory.

There was a moment where a single channel, Tiktok, wasn't under their control, and they managed to force congress to force a takeover of that platform as well.

Re: Oil companies report sky-high profits thanks to wartime crude prices

#64

Post by dyauspitr »

pudgywalsh wrote: post #50
dyauspitr wrote: post #37

Earlier quoted context omitted.

Equivalent gas Ford F-150, I have a lightning

> I have a lightning ...which are going for $50k-$75k USED. Did you forget to amortize that number or is it included in the $20? Will you pay off the loan in the year 2326?

A new gas F150 isn’t that far off they cost roughly 50,000 as well which is what my truck cost, new. I had a three-year interest free loan. It’s all paid off.

Re: Oil companies report sky-high profits thanks to wartime crude prices

#65

Post by mullingitover »

ryanmcbride wrote: post #51
mullingitover wrote: post #46

US voters chose to reduce their taxes by a margin they won't notice in exchange for increasing their energy prices by an amount they will absolutely notice. The wild thing is that this is an extremely predictable thing that has happened every time this political party is given control of the military. The chutzpah of claiming to be anti-war is breathtaking, and it's stunning that voters fell for it.

They didn't fall for it, this is what they want. They don't want low prices, they don't want cheap gas, they want war. They don't care how much they have to pay to get it. They want death and blood. Engaging with their false narrative doesn't do anything but reinforce it.

> They didn't fall for it, this is what they want.

If it's what they wanted it's very odd that the winning candidate's platform swore no new wars. It's also weird that his approval rating is bouncing around at the lowest level ever recorded as he's prosecuting a war that his constituents want.

Re: Oil companies report sky-high profits thanks to wartime crude prices

#66

Post by [deleted] »

SR2Z wrote: post #33
throw1234567891 wrote: post #8

Earlier quoted context omitted.

The whole point of this war is to make money on oil.

Obviously not, and a little part of me dies every time someone boils a complex issue down to an obviously wrong statement like this. 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 simm…

[deleted]

Re: Oil companies report sky-high profits thanks to wartime crude prices

#67

Post by Sabinus »

Cernunnos wrote: post #49
downrightmike wrote: post #42

Earlier quoted context omitted.

Worked better when that was Clinton's slogan

Clinton's path to greatness got the US into the mess that it is in right now, the whole neoliberal agenda is to blame for this.

Shouldn't you be complaining about Regan and Thatcher then?

Re: Oil companies report sky-high profits thanks to wartime crude prices

#68

Post by Legend2440 »

mr_toad wrote: post #57
patwolf wrote: post #40

> Combined, the three companies raked in, on average, some $404 million in profits every day for the last three months. Just for perspective, Nvidia's daily profits for the past quarter are $641 million. For Apple it's $327 million.

If you constrained the inputs of Apple or Nvidia then their sales and profits would tumble (just look at what happened to Apples stock price in the last week because of the memory chip shortage). Off the top of my head I can’t think of another company or industry that would profit from a supply side shock the way the oil industry does.

The oil industry as a whole does not benefit from supply side shocks.

However, the US oil industry is not supply constrained by the war. They can still produce as much oil as ever. It's only their competitors in the middle east that are affected.

They reduces the global supply of oil and increases demand for US oil. That's why their profits are up.

Re: Oil companies report sky-high profits thanks to wartime crude prices

#69

Post by pstuart »

Hikikomori wrote: post #56
pstuart wrote: post #23

Earlier quoted context omitted.

In the past, yes. Because this admin has only one person who calls the shots, it was started because he wanted it. Reports indicate that Bibi played on his ego, and recent "success" in Venezuela gave the illusion that "regime change" was easy, as well as an apparent long time hatred for Iran were the drivers here. It is mind boggling that tens of millions of people continue to say "This is fine."

Not just Bibi, kushner and Saudi Royals as well. Kushner received billions of Saudi money for his fund. Bibi literally slept in Jared's childhood bed when visiting the states.

Yeah, I amended that note on another reply in this thread.

Re: Oil companies report sky-high profits thanks to wartime crude prices

#70

Post by dmix »

api wrote: post #62
bix6 wrote: post #59

Earlier quoted context omitted.

True but I’ve heard they are in support of Iran getting decimated so they can fill the power vacuum.

So many Americans don't understand that these two "branches" of the Muslim world are at odds as much if not more than Israel and the Muslim world. That whole region is a mess of deep long-standing divisions.

I'd still take UAE vs Saudi, over Iran destabilizing everything in the region (Lebanon, Gaza, Syria, Iraq, Yemen, Western Sahara). Not to mention supporting Russia and North Korea.
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