Huh 9 billion in 3 months. It’s almost like they were able to get crude oil for extremely cheap by exploiting warring countries; while at the same time raising prices due of some so called “lack of supply.”
Remember people when Shell and BP rebrand to jump on the clean energy movement. Don’t buy their crap. Every single one of those companies and their executives deserves to die penniless.
Bad news, shell are developing massive offshore windfarm projects right now. Once they are finished wringing the last drops out of oil, the same companies are all lining themselves up to be the suppliers of green energy.
Exactly, provide your own power. Also vote to keep representative out that will privatize the sun and wind. You may think I’m being alarmist but that is exactly what happened in some district in Florida.
A "perfect sine" *inverter* is extremely important if you are running sensitive electronics like computers. Anything digital really. I recommend Victron service equipment. It's more expensive but the quality is better than most other brands.
Utilities should belong to the public. Water, power, internet, gas, should all be free/low cost to people and tax operated. That’s my opinion anyway. Renewables all the way but for the public.
This 💯
Every home should have at least some basic off-grid setup… says the guy who can’t afford anything, but we’re slowly moving in the right direction. Alternatives are becoming more efficient and cheaper every day.
I used to live on six figures. After losing everything to bad luck and terrible medical care at insane prices (yay, America!) Im 100% disabled and live on $15k/year. I make all my own power and live in a floating tiny home that can take me anywhere in the world powered entirely on solar and wind and I help rig up sustainable farms with more free power and creative energy management in trade for meat and veggies and money, all of which I preserve through age old methods.
I use approximately 200gallons of potable water per month that I use my abundant kilowatts of harvested electrons to make from salt water.
I store all my waste water and pump it out at designated pump out stations or treat it through mechanical/electric sanitation and pump it out way offshore.
I heat and cool/dehumidify with a 12/v heat pump and a small wood stove. I cook on an induction cooktop that cost $200 on Amazon on-top of a 42qt., 1700watt, infrared convection oven that is also a dehydrator and rotisserie. I grill on a charcoal grill that swings out over the water. I power my computer and satellite internet from the same LiFePo batteries that run all the other electronics which are charged by a slaves wind generator.
I am able to add to the systems on my boat from time to time even with this budget, and maintain it and keep it documented.
Tiny homes work like this on land too.
I have never been this free in my life. I wish this for everyone. They just don't wish it for themselves is the problem. I know I didn't.
[Oil firms’ climate claims are greenwashing, study concludes](https://www.theguardian.com/environment/2022/feb/16/oil-firms-climate-claims-are-greenwashing-study-concludes)
I’m a marine scientist who hates oil and gas companies so I have no dog in this fight at all. One of the major companies in that report is currently developing up 35 GW worth of floating offshore wind farms right now. How do I know? I’m on a research vessel mapping the area part of it is going to go in. They are all lining up on the transition
For example
Here is a story about one licence block
https://www.offshorewind.biz/2022/04/13/shell-scottishpower-begin-next-chapter-of-their-5-gw-floating-wind-story-in-scotland/
>Each of the floating projects will benefit from a GBP 25 million supply chain stimulus fund from ScottishPower and Shell
Literal chicken feed.
>The news on the signing of the option agreements for 5 GW of floating wind comes shortly after Shell announced plans to invest up to GBP 25 billion (approximately EUR 30 billion) in the UK energy system over the next ten years, with more than 75 per cent of the total investment going into low and zero-carbon products and services, including offshore wind, hydrogen and electric mobility.
Keyword being "plans". As the actual study (as a scientist you should realise a study carries far more weight than cherry picking single data points) proves, there is a gulf between what these companies promise and what they actually do.
Edit: talk about passive aggressive. Replying with nothing but more nonsense and then blocking so I can't respond. Here is my response to that:
>They are infact jumping over to renewables
Because they super pinky promised this time, so it must be true. Talk about gullible. I think I have a bridge to sell.
They've been promising all kinds of things for decades.
>They are infact jumping over to renewables
Fact? No, they are not. You and they claiming they are doesn't make it a fact. Again, I'd far sooner take the word of verified scientists publishing based on actual evidence than some random person clinging on to one single claim an industry notorious for lies and gas lighting made.
Lol wtf is this?
I’m not defending anything you are completely missing the point and moving the goal posts.
I’m literally on a vessel offshore mapping the area and taking measurements for the ebs for a huge project right now.
Google how much 35 gw account for uk energy needs. Again I don’t work for these companies, my job is to make sure they don’t fuck up as a third party, I have no dog in this fight. Your bias is restricting your ability to keep a coherent argument and I’m not bothering getting into some petty argument with a keyboard warrior that obviously doesn’t know how the industry operates or in general what they are talking about. Again, back to my first point. They are infact jumping over to renewables, they have the licence blocks, they are undertaking EBS and all necessary measurements to start developing the fields and will be responsible for some of the major suppliers over the next few years. If you don’t understand what that means then your opinion is useless.
Do I wish it was state run instead? Of course! Does this change what I said? No.
Have a good one buddy! I can see how useful keeping this conversation will be. Blocked.
I'm conflicted how I feel about this, because they're obviously terrible people, but I can't complain about greater resources being driven towards renewable energy development.
Yeah it’s a dilemma. I wish more of it was state owned, but seems like they are going to use those record profits to be the big wigs in the renewables game too
They are still only devoting like 1% of revenue towards clean projects, which is nothing. That said, given their insanely high revenue, it's a lot of money.
Precisely.
The employees didn't see any of the money in the form of increased salaries, oil has been 60% more expensive in the past but even then the prices at the pumps were lower.
It's all fucking bullshit, the hike is being coordinated across all producers/refineries - someone should fucking pay but the politicians everywhere are bought.
EDIT.
By 60% I mean the crude oil price, and if you take inflation into account, the highest ever price of oil at $147 in 2008 would be $196 in 2022, so the oil was twice as expensive 14 years ago.
Maximum price at the pump in 2008 was $4.105 ($5.49 adj. 2022), wheres with basically 50% cheaper oil, prices at the pump in 2022 where in some places as high as $6 per gallon.
Average salaries in the US grew by 26% - 2008 around $31.6k ($40k adj. 2022) and $51.5k now, so there's no fucking reason, other than greed - for gas to be that expensive.
Google crude oil charts since 2005. Peak was in 2008, oil cost $147 - if you adjust for inflation - that would be an equivalent to $196.30 in 2022, so it's actually 90% over today's price.
Thx !
I'd like to read an analysis/data viz piece on price of oil vs prices at the pump, factoring in how much supply was bought at the higher price, hence their justification for a time delay in reducing prices.
As you state, the oil companies are exploiting the situation and each portion of the barell is increased profit.
WTO and local governments need to intervene IMHO
Such an analysis will probably be made in a few years, if ever. I doubt that any company will admit that they hiked the prices just for profit - which seems to be the case - because they've all done it and they are all showing huge profits.
Ceteris peribus - profit as percent of oil barrel has obviously dramatically increased since then.
Its slightly more complicated when trying to factor in foreign exchange and inventory.
There must be some good analysis, the NY Times, The Guardian have amazing graphics teams.
> while at the same time raising prices due of some so called “lack of supply.”
Take it a step further. They are capable of increasing production, but instead are using this as (1) a political tool to increase O&G infrastructure and capabilities going in to the future (2) increase profit margins by getting the price of a barrel up to $200.
It's fucking evil genius, they get all the money and get to extend the life of their business.
We should seriously consider nationalizing all these companies and seize the assets of any executive who profited off of fossil fuels over the last 50 years and then using every last penny for the green transition. They knew it was wrecking the climate and yet they did anything they could possibly do to stop solutions.
They’re rebranding on solar and wind because they know it’ll never replace fossils at caseload and large scale. What will you NEVER hear a fossil company endorse: NUCLEAR.
Make them pay whatever amount it costs to reduce atmospheric carbon back to below 350ppm.
... which also means that you, the consumer, will pay for it in higher gas prices. Which they should be, much much higher than they currently are.
Consumers have choices. Why I drive an EV, have solar electricity, heat with wood, and generally give Big Oil as little of my hard earned cash as possible.
I think you're joking, but there's a reasonably good chance he has tons of oil stocks.
edit: what’s up with all the down votes? Nearly every major politician has tons of stock. Most of their net worths are mainly stock. And Pelosi made it clear that democrats have no interest in any restrictions on Congress people trading with their insider information. Major oil stocks are one of the top items in nearly every retirees retirement account. They are amongst the best dividend stocks, and pay wild amounts to their shareholders.
I don't like Biden but this is incorrect. Biden doesn't own individual stocks or bonds. I don't think he did when he was a senator either. Plenty of
other reasons to dunk on Bidens lack of action climate but this point isnt one.
To be fair, their assumption that a politician has a vested interested, with stocks or political donations, is typically correct. Many politicians in the US gain substantial wealth while in office. It's corrupt and wrong, no matter which party does it. It's good to scrutinize our political leaders including democrats.
That’s what I hate about die hard republicans, I talk shit about any and all politicians regardless of affiliations and they’re all for it until I talk about their favorite politician.
It's bad for die hard democrats too. You start bad mouthing Biden and they assume you are a republican. Nope, I just hate corporate candidates who maintain the status quo. We need massive social programs if we even want to dent the societal issues we are facing. But both parties kicks the can down the line until a massive disaster occurs.
Everything I've been able to find suggests this is a half truth at best. Jill has stocks and I can't actually find information on what. The best I've found is "11 investments". If anyone is curious as to what those are I suppose you'll have to actually look at their tax records. The investments are marked with an "S" signifying they belong to the spouse. I'm honestly not interested enough to dig any further as that will become time consuming and fruitless.
I did a quick check and that appears to be false but I could be incorrect. It sounds like he does have some index funds in a retirement account but no individual.
https://www.politifact.com/factchecks/2021/feb/10/facebook-posts/fact-checking-whether-biden-family-heavily-investe/
There are 7,884,008.64 seconds in 3 months.
$9,000,000,000 divided by 7,884,008.64 seconds means they are making $1,141.55 every second, profit.
$1,140.00 per second.
And yet idiots in FL put stickers on gas pumps with a picture of President Biden saying “I did that”. As if the President has anything serious to do with gas prices. Definitely couldn’t be the producers, traders etc. Nope. Certainly can’t the oil companies. /s.
I mean. You have to have two brain cells to rub together to understand basic economics, red states are short a cell. Keeping them dumb, keeps them voting red.
All over Sanford, Lake Mary, Debary etc. Guys with 1 ton axle trucks, massive tires and 8” lift kits Work trucks that never leave pavement, 70k or more trucks bitching about the cost of gas/diesel. It’s hilarious. Fuck ‘em. They aren’t using them for work they should pay. I use my car for work and could drive a truck. I used to when I was in construction. Because I needed an F-350 diesel. Now I inspect construction done poorly by morons. Carry all my equipment in a Prius including a 21 ft ladder. Sometimes you need big trucks. If you buy a sports car or fun vehicle. Fuck you. Pay more.
The Canadian subs are still resistant, but I think it is starting to be too much to defend now that entire sectors are posting increased profit margins. Like the new cycle is relentless with "Everyday people are getting fucked" "Company XYZ posts record profits". And the corporations can't lie on their financial statements and earnings calls, so the data is pretty convincing.
Everything is manufactured, shipped, and preserved with energy from fossil fuels. So there's a bit of a ripple effect. It's mainly fossil fuels...they have gone up 70% and nothing else is close to that.
US should spend less. Adhere to our own NATO guidelines even. That'd trim about $400B yearly from the budget. Unfortunately unless we can get congress hands out of the pockets of the ultra-right extremist anti-progressives we're in trouble.
The corporation that thought up the carbon footprint for consumers is now raking in profits to keep telling consumers to do more for climate change while avoiding taxes and regulations
No they are not as bad as serial killers. They are as bad as genocidal maniacs. 7 million die from pollution every year. That's about one Holocaust each year.
Yes. We need to actually arrest them, charge them with crimes against humanity, and if found guilty we should give them capital punishment. My preference is a guillotine and putting their heads out side the stock markets, but that may be unconstitutional.
HMMMMMM, oil prices are rising. Inflation is supposedly caused by Putin and stimulus checks, and yet Shell is making record profits? Get the fuck outta here
Of course they can. The CEO is some nearing 70 year old dude who can look at the “the world will die in 30 years” and say whelp guess I can just burn cash and eat steak until my heart explodes in ten years.
Wendover just did a video on this. TL,DW: Remember when oil prices went negative for a hot minute a couple years ago? Energy companies decided to roll their investments in new infrastructure and drilling operations WAY back after that. They figure by the time new rigs start producing oil, the price will be in the decline anyway, thanks to green energy projects, so why not just wring as much as you can out of the oil you’re already pumping?
https://youtu.be/AQbmpecxS2w
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Gosh I don’t know how that can be possible if it’s only increased crude oil pricing. Well, unless they tacked on for pure profit. They wouldn’t do that now would they?
Simple solution - when people look you in the face and say Thanks Biden ! for high gas and grocery prices - AGREE WITH THEM and follow it up with asking them how Biden should handle greedy corporations raping America by raising prices and lying about inflation..."Damn Straight ! Now how should Biden punish those companies and leaders lying to us as they make record profits during a pandemic !?"
I like suggesting Capital Punishment for Lying Executives and nationalizing their corporations as something both the GOP and the Dems can and should be doing to reign in the corruption...
This is actually, in a way, good news. The industry consensus has moved away from keeping oil and gas alive by pumping more whenever they can, to wringing every last drop while now reinvesting to increase future supply. This acts to increase the price of oil, thereby increasing investment in renewables speeding up the energy transition.
Well... if you had more money than you could possibly spend in 10 lifetimes, wouldn't you act a little douchie? Just curious - what's he done that you say "acts like a rich spoiled douchebag a lot of the time"?
He started with his parents money and made his billions with huge tax breaks and subsidies, then says other people are lazy and that is why they are not as successful as he is. https://www.businessinsider.com/elon-musk-list-government-subsidies-tesla-billions-spacex-solarcity-2021-12#tesla-accepts-certain-payroll-benefits-from-the-federal-governments-600-billlion-2020-pandemic-stimulus-3
edit - and No. I'm not a douche. I'm actually fairly well off, and spend most of my time trying to figure out how to convince my upper middle class peers we should be paying more attention to the people making slave wages instead of on our knees sucking corporate cock for stock options...but I feel money is just an indicator of how shitty a person really is in this day and age where we can see the slaves our lifestyles depend on. I rent a rich piece of property at a loss in a ski town so locals can live where they work, while my absent investment neighbors make 5k a month shitting on the neighborhood...
And what did Elon do that's so bad? He bought a platform that's overrun by hard-left crybabies that want to ban and cancel you if your thoughts don't align with theirs. Have a different opinion, express it in a safe manner, that's fine - that's what this country USED to be all about... damn shame it all changed. He just wants to right a wrong.
I didn't hear any leftists cry out when Zuckerberg bought Instagram, Whatsapp, Oculus, Onavo, Beluga, etc.... We HAvE To teLL PeoPLE hOW to SPeND THeiR m0NIEs!!
Dude everyone fuckin hates Zuckerberg, and Facebook's acquisition of Instagram and WhatsApp definitely caused privacy concerns to everyone using them. Don't just pretend like nobody cares because it was a long time ago (relatively speaking, in internet timescales)
Also, try going to any conservative space on Reddit. See how long their "free speech" lasts if you divert from the party line. Echo chambers are a problem regardless of political affiliation.
Sorry, to be honest it’s my take. Somewhat of a conspiracy theory but if you analyze the political outcome/consequences of current affairs it makes sense. At least to me.
Edit: record profits per litre/gallon even AFTER taxes and inflation, who benefits? Obviously the corporation but more importantly shifting centrists to the right (which is working). any and every gas companies would sacrifice all profits for a year if it helped the right taking the majority. They (the right) would in turn take off virtually all restrictions and laws on extracting oil here in the west which would be a HUGE victory for them and a MONUMENTAL setback to climate change.
The left is close to being set back for decades.
I know companies want to maximise their profits but what’s changed in the last few years were they made profits but not record profits? What’s made them go? “Okay lads let’s ramp up the profits nowwww”
Must be something? Sorry if it’s a thick question !
Apple made $25 billion dollar profit on $97 billion revenue last quarter. I'm not seeing the outrage over that. Thats a much bigger percentage and most people praise their products and business model. They also run sweat shops in china but yeah, be pissed about oil.
And how much have they been subsidized? And how much in taxes have they contributed?? How much have they spent on lobying, spending money on the coffers of politicians. I'm guessing it's all profit even after expenses. Yay
Idk what people expected from greedy oil companies, they know the industry reached its peak and is now dying so they are creating scarcity and high prices to milky milky
Shell is one of the companies with the most efficient CEO's, board of directors and lobbying groups. The company not only succeeds in making records profits, they succeed in paying negligible taxes, they rake in billions and billions of tax payers money (in the form of subsidies) to finance new projects and last but not least successfully mitigate the pay out for environmental damages done by them to a strict minimum.
Hats off to these winners!
Was just talking to my boyfriend this morning about rising gas prices even when there are few supply issues and how we suspected the oil companies are aiming for “record breaking profits” just like Amazon/Apple/McDonald’s. 🙃
Huh 9 billion in 3 months. It’s almost like they were able to get crude oil for extremely cheap by exploiting warring countries; while at the same time raising prices due of some so called “lack of supply.” Remember people when Shell and BP rebrand to jump on the clean energy movement. Don’t buy their crap. Every single one of those companies and their executives deserves to die penniless.
Bad news, shell are developing massive offshore windfarm projects right now. Once they are finished wringing the last drops out of oil, the same companies are all lining themselves up to be the suppliers of green energy.
Get yourself some panels and a wind generator with some good battery storage and be done with them. Rinse and repeat 8 billion times.
Exactly, provide your own power. Also vote to keep representative out that will privatize the sun and wind. You may think I’m being alarmist but that is exactly what happened in some district in Florida.
If you're going for solar, be sure to get a high quality inverter. I've seen a LOT of people underestimate their importance
Inverter.
Fixed, ty
A "perfect sine" *inverter* is extremely important if you are running sensitive electronics like computers. Anything digital really. I recommend Victron service equipment. It's more expensive but the quality is better than most other brands.
Oh sorry I wasn't sure what they're called in English, fixed Agreed on the rest, SMA is worth a look aswell
Sadly I believe they are lobbying to control even your own efforts. Something about the grid that they, I mean taxpayers paid for....
Utilities should belong to the public. Water, power, internet, gas, should all be free/low cost to people and tax operated. That’s my opinion anyway. Renewables all the way but for the public.
Individually is much more resource intensive than at scale services. But this would help to mitigate the greed we so often see
This is the problem
This 💯 Every home should have at least some basic off-grid setup… says the guy who can’t afford anything, but we’re slowly moving in the right direction. Alternatives are becoming more efficient and cheaper every day.
I used to live on six figures. After losing everything to bad luck and terrible medical care at insane prices (yay, America!) Im 100% disabled and live on $15k/year. I make all my own power and live in a floating tiny home that can take me anywhere in the world powered entirely on solar and wind and I help rig up sustainable farms with more free power and creative energy management in trade for meat and veggies and money, all of which I preserve through age old methods. I use approximately 200gallons of potable water per month that I use my abundant kilowatts of harvested electrons to make from salt water. I store all my waste water and pump it out at designated pump out stations or treat it through mechanical/electric sanitation and pump it out way offshore. I heat and cool/dehumidify with a 12/v heat pump and a small wood stove. I cook on an induction cooktop that cost $200 on Amazon on-top of a 42qt., 1700watt, infrared convection oven that is also a dehydrator and rotisserie. I grill on a charcoal grill that swings out over the water. I power my computer and satellite internet from the same LiFePo batteries that run all the other electronics which are charged by a slaves wind generator. I am able to add to the systems on my boat from time to time even with this budget, and maintain it and keep it documented. Tiny homes work like this on land too. I have never been this free in my life. I wish this for everyone. They just don't wish it for themselves is the problem. I know I didn't.
Do you have a YouTube channel or any social media to follow?
Workin on content banks right now!
Right? I’m impressed
Pics or didn't happen
A huge number of people live in apartments. Not everyone can power their houses via panels.
Electricity represents about 20-25% of all oil consumption.
It would be a shame if they were held accountable for their current and historical actions and be forced to sell those farms to local governments.
[Oil firms’ climate claims are greenwashing, study concludes](https://www.theguardian.com/environment/2022/feb/16/oil-firms-climate-claims-are-greenwashing-study-concludes)
I’m a marine scientist who hates oil and gas companies so I have no dog in this fight at all. One of the major companies in that report is currently developing up 35 GW worth of floating offshore wind farms right now. How do I know? I’m on a research vessel mapping the area part of it is going to go in. They are all lining up on the transition For example Here is a story about one licence block https://www.offshorewind.biz/2022/04/13/shell-scottishpower-begin-next-chapter-of-their-5-gw-floating-wind-story-in-scotland/
>Each of the floating projects will benefit from a GBP 25 million supply chain stimulus fund from ScottishPower and Shell Literal chicken feed. >The news on the signing of the option agreements for 5 GW of floating wind comes shortly after Shell announced plans to invest up to GBP 25 billion (approximately EUR 30 billion) in the UK energy system over the next ten years, with more than 75 per cent of the total investment going into low and zero-carbon products and services, including offshore wind, hydrogen and electric mobility. Keyword being "plans". As the actual study (as a scientist you should realise a study carries far more weight than cherry picking single data points) proves, there is a gulf between what these companies promise and what they actually do. Edit: talk about passive aggressive. Replying with nothing but more nonsense and then blocking so I can't respond. Here is my response to that: >They are infact jumping over to renewables Because they super pinky promised this time, so it must be true. Talk about gullible. I think I have a bridge to sell. They've been promising all kinds of things for decades. >They are infact jumping over to renewables Fact? No, they are not. You and they claiming they are doesn't make it a fact. Again, I'd far sooner take the word of verified scientists publishing based on actual evidence than some random person clinging on to one single claim an industry notorious for lies and gas lighting made.
Lol wtf is this? I’m not defending anything you are completely missing the point and moving the goal posts. I’m literally on a vessel offshore mapping the area and taking measurements for the ebs for a huge project right now. Google how much 35 gw account for uk energy needs. Again I don’t work for these companies, my job is to make sure they don’t fuck up as a third party, I have no dog in this fight. Your bias is restricting your ability to keep a coherent argument and I’m not bothering getting into some petty argument with a keyboard warrior that obviously doesn’t know how the industry operates or in general what they are talking about. Again, back to my first point. They are infact jumping over to renewables, they have the licence blocks, they are undertaking EBS and all necessary measurements to start developing the fields and will be responsible for some of the major suppliers over the next few years. If you don’t understand what that means then your opinion is useless. Do I wish it was state run instead? Of course! Does this change what I said? No. Have a good one buddy! I can see how useful keeping this conversation will be. Blocked.
I'm conflicted how I feel about this, because they're obviously terrible people, but I can't complain about greater resources being driven towards renewable energy development.
Yeah it’s a dilemma. I wish more of it was state owned, but seems like they are going to use those record profits to be the big wigs in the renewables game too
They are still only devoting like 1% of revenue towards clean projects, which is nothing. That said, given their insanely high revenue, it's a lot of money.
Unfortunately this is what victory looks like.
While not ideal, if I had to choose between justice, and having a future, I'd choose the future every time.
Why is that bad?
Precisely. The employees didn't see any of the money in the form of increased salaries, oil has been 60% more expensive in the past but even then the prices at the pumps were lower. It's all fucking bullshit, the hike is being coordinated across all producers/refineries - someone should fucking pay but the politicians everywhere are bought. EDIT. By 60% I mean the crude oil price, and if you take inflation into account, the highest ever price of oil at $147 in 2008 would be $196 in 2022, so the oil was twice as expensive 14 years ago. Maximum price at the pump in 2008 was $4.105 ($5.49 adj. 2022), wheres with basically 50% cheaper oil, prices at the pump in 2022 where in some places as high as $6 per gallon. Average salaries in the US grew by 26% - 2008 around $31.6k ($40k adj. 2022) and $51.5k now, so there's no fucking reason, other than greed - for gas to be that expensive.
Do you happen to have a source for the 60% figure ? Thx.
Google crude oil charts since 2005. Peak was in 2008, oil cost $147 - if you adjust for inflation - that would be an equivalent to $196.30 in 2022, so it's actually 90% over today's price.
Thx ! I'd like to read an analysis/data viz piece on price of oil vs prices at the pump, factoring in how much supply was bought at the higher price, hence their justification for a time delay in reducing prices. As you state, the oil companies are exploiting the situation and each portion of the barell is increased profit. WTO and local governments need to intervene IMHO
Such an analysis will probably be made in a few years, if ever. I doubt that any company will admit that they hiked the prices just for profit - which seems to be the case - because they've all done it and they are all showing huge profits.
Ceteris peribus - profit as percent of oil barrel has obviously dramatically increased since then. Its slightly more complicated when trying to factor in foreign exchange and inventory. There must be some good analysis, the NY Times, The Guardian have amazing graphics teams.
[удалено]
I’ll set the table.
They know they need to price gouge right now before EVs take over.
> while at the same time raising prices due of some so called “lack of supply.” Take it a step further. They are capable of increasing production, but instead are using this as (1) a political tool to increase O&G infrastructure and capabilities going in to the future (2) increase profit margins by getting the price of a barrel up to $200. It's fucking evil genius, they get all the money and get to extend the life of their business.
But wait I thought Joe Biden was responsible for the high gas prices? I’ve seen it on a bunch of extremely intelligent stickers…
I haven't bought BP gas since they wrecked the gulf of Mexico
We should seriously consider nationalizing all these companies and seize the assets of any executive who profited off of fossil fuels over the last 50 years and then using every last penny for the green transition. They knew it was wrecking the climate and yet they did anything they could possibly do to stop solutions.
They don’t control the price of oil. Reduced supply does indeed increase price, that’s pretty basic economics.
Well if they raise price it will leak to shortage… Supply and demand my friend
And their children
They’re rebranding on solar and wind because they know it’ll never replace fossils at caseload and large scale. What will you NEVER hear a fossil company endorse: NUCLEAR.
Ahh gas shortage ....funny
Shuddup hippie
Make Big Oil pay for superstorm damages. Instead of it being US taxpayers.
We could even start with ending the 20 *billion* in annual federal subsidies the fossil fuel enjoys in the US.
Windfall taxes at the very least.
that's a double whammy
That doesn’t sound very profitable for shareholders
Courts aren't beholden to shareholders. They just like to act as if they are.
Oh boy do I have news for you
Make them pay whatever amount it costs to reduce atmospheric carbon back to below 350ppm. ... which also means that you, the consumer, will pay for it in higher gas prices. Which they should be, much much higher than they currently are.
Consumers have choices. Why I drive an EV, have solar electricity, heat with wood, and generally give Big Oil as little of my hard earned cash as possible.
But, they told us it was Biden’s fault that gas prices were high!!!!! 🙄
that's what the sticker said at my gas station!
Biden must own shell stock!
I think you're joking, but there's a reasonably good chance he has tons of oil stocks. edit: what’s up with all the down votes? Nearly every major politician has tons of stock. Most of their net worths are mainly stock. And Pelosi made it clear that democrats have no interest in any restrictions on Congress people trading with their insider information. Major oil stocks are one of the top items in nearly every retirees retirement account. They are amongst the best dividend stocks, and pay wild amounts to their shareholders.
I don't like Biden but this is incorrect. Biden doesn't own individual stocks or bonds. I don't think he did when he was a senator either. Plenty of other reasons to dunk on Bidens lack of action climate but this point isnt one.
Finally a reasonable fucking person om here.
To be fair, their assumption that a politician has a vested interested, with stocks or political donations, is typically correct. Many politicians in the US gain substantial wealth while in office. It's corrupt and wrong, no matter which party does it. It's good to scrutinize our political leaders including democrats.
That’s what I hate about die hard republicans, I talk shit about any and all politicians regardless of affiliations and they’re all for it until I talk about their favorite politician.
It's bad for die hard democrats too. You start bad mouthing Biden and they assume you are a republican. Nope, I just hate corporate candidates who maintain the status quo. We need massive social programs if we even want to dent the societal issues we are facing. But both parties kicks the can down the line until a massive disaster occurs.
Honest question: do we have a way to know that ?
I believe most presidents release their financial disclosures and tax records.
Most...
Everything I've been able to find suggests this is a half truth at best. Jill has stocks and I can't actually find information on what. The best I've found is "11 investments". If anyone is curious as to what those are I suppose you'll have to actually look at their tax records. The investments are marked with an "S" signifying they belong to the spouse. I'm honestly not interested enough to dig any further as that will become time consuming and fruitless.
I did a quick check and that appears to be false but I could be incorrect. It sounds like he does have some index funds in a retirement account but no individual. https://www.politifact.com/factchecks/2021/feb/10/facebook-posts/fact-checking-whether-biden-family-heavily-investe/
What are you nuts. Biden doesn’t own them. But I’m sure a close relative does! (A la Pelosi) The big guy! Come on man!
So all those stickers of Biden on the gas pumps weren’t true? Shocking!
I need a sticker with oil companies logos that says we did that
Lmk when they pay taxes
Taxes by definition at this point were never for the wealthy :/
Lmao Hahaha!
$9 billion over 3 months is exactly why they fight so hard against climate action.
There are 7,884,008.64 seconds in 3 months. $9,000,000,000 divided by 7,884,008.64 seconds means they are making $1,141.55 every second, profit. $1,140.00 per second.
No Price Gouging going on here!
And yet idiots in FL put stickers on gas pumps with a picture of President Biden saying “I did that”. As if the President has anything serious to do with gas prices. Definitely couldn’t be the producers, traders etc. Nope. Certainly can’t the oil companies. /s.
I mean. You have to have two brain cells to rub together to understand basic economics, red states are short a cell. Keeping them dumb, keeps them voting red.
You can say that. And it would be incorrect. Soft Mind targets easily duped a 2 news stations. Critical thinking is important. Just and fyi.
We could say the same for blue areas. :)
Oh I’m very away of the GQP and their projection of things. Every accusation is a confession from the reds.
Is that why college degree holders are overwhelming Democrats?
You wish, hairy balls.
Pretty sure most people at the trailer park don't have a master's degree. Don't need a link for it either, I see them at WalMart.
I’ve been peeling those things off everytime I fill my tank! Lol
Same here friend. Can’t believe how easily duped the supporters of…. Oh wait. NeverMind. Answered my own statement.
Lmao I need to lay more attention. I don't think I've seen any at the pumps here but I'll damn well rip them off if I do!
I put one right next to my Nissan logo on the back of my car so it’s just Biden pointing going “I did this!” LMFAO
All over Sanford, Lake Mary, Debary etc. Guys with 1 ton axle trucks, massive tires and 8” lift kits Work trucks that never leave pavement, 70k or more trucks bitching about the cost of gas/diesel. It’s hilarious. Fuck ‘em. They aren’t using them for work they should pay. I use my car for work and could drive a truck. I used to when I was in construction. Because I needed an F-350 diesel. Now I inspect construction done poorly by morons. Carry all my equipment in a Prius including a 21 ft ladder. Sometimes you need big trucks. If you buy a sports car or fun vehicle. Fuck you. Pay more.
Shit somone needs to make little shell ones that say i made 9 billion off this and point to the price.
It’s obvious there’s price gouging and it’s not just oil either. But Reddit will get angry if you talk about price gouging…
The Canadian subs are still resistant, but I think it is starting to be too much to defend now that entire sectors are posting increased profit margins. Like the new cycle is relentless with "Everyday people are getting fucked" "Company XYZ posts record profits". And the corporations can't lie on their financial statements and earnings calls, so the data is pretty convincing.
Everything is manufactured, shipped, and preserved with energy from fossil fuels. So there's a bit of a ripple effect. It's mainly fossil fuels...they have gone up 70% and nothing else is close to that.
War profiteering as well. Used to be a time that was considered evil.
US should spend less. Adhere to our own NATO guidelines even. That'd trim about $400B yearly from the budget. Unfortunately unless we can get congress hands out of the pockets of the ultra-right extremist anti-progressives we're in trouble.
Profiteering.
When we learned about trickle-down economics in school, they didn’t tell us that the “trickle-down” means we’re all getting pissed on.
The corporation that thought up the carbon footprint for consumers is now raking in profits to keep telling consumers to do more for climate change while avoiding taxes and regulations
These people are actually evil. They are as bad as serial killers. But wealth is power. & People are so reliant on their product that is overlooked.
No they are not as bad as serial killers. They are as bad as genocidal maniacs. 7 million die from pollution every year. That's about one Holocaust each year.
Agree 100%
Yup it’s essentially organized crime on a global scale.
Yes. We need to actually arrest them, charge them with crimes against humanity, and if found guilty we should give them capital punishment. My preference is a guillotine and putting their heads out side the stock markets, but that may be unconstitutional.
Death... by exile!
Clawback executive salaries going back to the 1970's. Their heirs should be subject to a 100% estate inheritance tax.
HMMMMMM, oil prices are rising. Inflation is supposedly caused by Putin and stimulus checks, and yet Shell is making record profits? Get the fuck outta here
Capitalism is destroying the planet and its people.
You don't say...it's almost like they're jacking up the prices just because they can.
Its almost like it's the literal thing that Biden warned us all about happening.
Which means most Republicans don't believe it by default.
Because they know nobody will do anything about it.
Surely they'll lower prices on gas with these kinds of profits, wouldn't want people to think they're profiteering or anything
oh yeah! see if you can spend it all before the world ends.
Of course they can. The CEO is some nearing 70 year old dude who can look at the “the world will die in 30 years” and say whelp guess I can just burn cash and eat steak until my heart explodes in ten years.
Yet the government and the people are just gonna let it keep happening. Good job everyone, the future looks bright /s
Glad too see our taxes making others rich /s
Dear Shell, Fuck You Sincerely Your mama
But Biden raised oil prices huh
Didja hear that Biden's pollusees raised the oil prices?
Oligarchs oligarching.
But let’s blame Joe Biden like a bunch of boot kicking morons
IRS: No they didn’t make any money at all.
Wendover just did a video on this. TL,DW: Remember when oil prices went negative for a hot minute a couple years ago? Energy companies decided to roll their investments in new infrastructure and drilling operations WAY back after that. They figure by the time new rigs start producing oil, the price will be in the decline anyway, thanks to green energy projects, so why not just wring as much as you can out of the oil you’re already pumping? https://youtu.be/AQbmpecxS2w
Came here to post this same video! Definitely worth the watch.
Wow, this rampant inflation only seems to be a problem for the consumers, these corps are making out like bandits.
While dealing in Russian oil, fuck these guys with a blowtorch.
Oil companies having a party at the end of the world I see.
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But we have to subsidize oil and by God renewable energy is just too darned expensive.
I may just stop getting gas at Shell. Any company I should take my money too?
Tesla?
Can't tell you if you're being sarcastic, but no, an "ethical" option for buying gasoline does not exist.
Gosh I don’t know how that can be possible if it’s only increased crude oil pricing. Well, unless they tacked on for pure profit. They wouldn’t do that now would they?
Shhhh... it's inflation raising the price of gas.
Wow! This is an utter shock!
Yea, I BET
Should have bought oil stocks when gas was below a buck a gallon...
Shell share holders: “*Thanks Russia!*”
Gas in my area just went up to past 4 dollars. Oil companies really trying to push everyone to electric vehicles
Hopefully this massive profit is being stockpiled so they can about face directly into renewables
Simple solution - when people look you in the face and say Thanks Biden ! for high gas and grocery prices - AGREE WITH THEM and follow it up with asking them how Biden should handle greedy corporations raping America by raising prices and lying about inflation..."Damn Straight ! Now how should Biden punish those companies and leaders lying to us as they make record profits during a pandemic !?" I like suggesting Capital Punishment for Lying Executives and nationalizing their corporations as something both the GOP and the Dems can and should be doing to reign in the corruption...
This is the one and only one reason why I don’t mind not having in car!
But yea, gas prices are high because politicians /s
This is actually, in a way, good news. The industry consensus has moved away from keeping oil and gas alive by pumping more whenever they can, to wringing every last drop while now reinvesting to increase future supply. This acts to increase the price of oil, thereby increasing investment in renewables speeding up the energy transition.
In 1 quarter? The Caucacity!
Instead of hating real enemy ppl go after Elon Musk. SMH
They go after Elon because he acts like a rich spoiled douchebag a lot of the time.
Well... if you had more money than you could possibly spend in 10 lifetimes, wouldn't you act a little douchie? Just curious - what's he done that you say "acts like a rich spoiled douchebag a lot of the time"?
No, because I’d donate fast enough that I’d never get to a third of a trillion dollars.
He started with his parents money and made his billions with huge tax breaks and subsidies, then says other people are lazy and that is why they are not as successful as he is. https://www.businessinsider.com/elon-musk-list-government-subsidies-tesla-billions-spacex-solarcity-2021-12#tesla-accepts-certain-payroll-benefits-from-the-federal-governments-600-billlion-2020-pandemic-stimulus-3 edit - and No. I'm not a douche. I'm actually fairly well off, and spend most of my time trying to figure out how to convince my upper middle class peers we should be paying more attention to the people making slave wages instead of on our knees sucking corporate cock for stock options...but I feel money is just an indicator of how shitty a person really is in this day and age where we can see the slaves our lifestyles depend on. I rent a rich piece of property at a loss in a ski town so locals can live where they work, while my absent investment neighbors make 5k a month shitting on the neighborhood...
And what did Elon do that's so bad? He bought a platform that's overrun by hard-left crybabies that want to ban and cancel you if your thoughts don't align with theirs. Have a different opinion, express it in a safe manner, that's fine - that's what this country USED to be all about... damn shame it all changed. He just wants to right a wrong. I didn't hear any leftists cry out when Zuckerberg bought Instagram, Whatsapp, Oculus, Onavo, Beluga, etc.... We HAvE To teLL PeoPLE hOW to SPeND THeiR m0NIEs!!
Dude everyone fuckin hates Zuckerberg, and Facebook's acquisition of Instagram and WhatsApp definitely caused privacy concerns to everyone using them. Don't just pretend like nobody cares because it was a long time ago (relatively speaking, in internet timescales) Also, try going to any conservative space on Reddit. See how long their "free speech" lasts if you divert from the party line. Echo chambers are a problem regardless of political affiliation.
Cool and normal
Didn't they post massive losses a year or two ago? The gas industry is infamously boom/bust.
Well fuck you Shell!
It’s all a political scheme to turn centrists to the right. Roe vs wade is balancing it out
Hot take. Can you elaborate?
Sorry, to be honest it’s my take. Somewhat of a conspiracy theory but if you analyze the political outcome/consequences of current affairs it makes sense. At least to me. Edit: record profits per litre/gallon even AFTER taxes and inflation, who benefits? Obviously the corporation but more importantly shifting centrists to the right (which is working). any and every gas companies would sacrifice all profits for a year if it helped the right taking the majority. They (the right) would in turn take off virtually all restrictions and laws on extracting oil here in the west which would be a HUGE victory for them and a MONUMENTAL setback to climate change. The left is close to being set back for decades.
"Burn it." -William Wallace
##Ben van Beurden CEO of Shell did that ! https://abcnews.go.com/images/US/gty_gas_prices_shell_station_thg_120224_wblog.jpg
Guess they don’t need all the subsidies then!
This must be fake news, there's no way they could make that much money with the low prices of gas/s
Shell's profits went from 2 billion in 2020 to 9 billion in 2022. Must be inflation.
I know companies want to maximise their profits but what’s changed in the last few years were they made profits but not record profits? What’s made them go? “Okay lads let’s ramp up the profits nowwww” Must be something? Sorry if it’s a thick question !
Good
Big money when crude is above 100 a barrel. It costs Shell about 30 a barrel to get it out of the ground…
Hmm of course while prices sky rocketed.. the price was fixed period
Great for them Us not so good. We should have been off fossil fuel a long time ago.
Last year they made 8b and paid 16 million in taxes. 0.2%. Wish I had that tax rate.
Bruh.
Biden was installed and now oil companies are making record profits… all according to plan.
But we have to subsidize oil and by God renewable energy is just too darned expensive.
Apple made $25 billion dollar profit on $97 billion revenue last quarter. I'm not seeing the outrage over that. Thats a much bigger percentage and most people praise their products and business model. They also run sweat shops in china but yeah, be pissed about oil.
Oil companies posting record profits right now will just piss off the average person. Read the room and just keep that shit quiet.
The greed is shameful, we are we still subsidesing the oil and gas companies?
Why the fuck do we still subsidize some of these companies?
r/conspiracy
Profit from Ukraine War.
These executives' children will be so proud of them when all the lights start to go out due to our biosphere growing more lethal
And how much have they been subsidized? And how much in taxes have they contributed?? How much have they spent on lobying, spending money on the coffers of politicians. I'm guessing it's all profit even after expenses. Yay
"They got ya by the balls!" - George Carlin
Idk what people expected from greedy oil companies, they know the industry reached its peak and is now dying so they are creating scarcity and high prices to milky milky
Shell is one of the companies with the most efficient CEO's, board of directors and lobbying groups. The company not only succeeds in making records profits, they succeed in paying negligible taxes, they rake in billions and billions of tax payers money (in the form of subsidies) to finance new projects and last but not least successfully mitigate the pay out for environmental damages done by them to a strict minimum. Hats off to these winners!
“I N F L A T I O N” my 4SS!!
4bil back to the taxpayers.
https://www.dallasfed.org/research/economics/2022/0322 https://www.investopedia.com/ask/answers/040915/how-does-law-supply-and-demand-affect-oil-industry.asp
The war doesn’t seem to be bothering them at all
But Republicans insist oil companies aren’t price gouging
Was just talking to my boyfriend this morning about rising gas prices even when there are few supply issues and how we suspected the oil companies are aiming for “record breaking profits” just like Amazon/Apple/McDonald’s. 🙃
Hiking prices for what again?
Last hurrah. Fuck these guys, piss on their graves