Quote:
Originally Posted by coralway
Last year? SEC filings from the largest oil and gas companies show they’ve collectively completed $45.6 billion worth of buybacks since the start of 2021.
So, if you're ok with oil and gas companies dramatically increasing their prices so they can buy back their stock, and make their investors happy, then no one has any reason to complain about current prices.
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Management decided that the future of oil was not great and it was best to return excess cash to their investors. They saw that govt was going to push the automakers into electric vehicles greatly reducing the demand for oil.
The investors can than take the money and invest in other things that help grow the economy. Do you think they take this cash and hide it under their mattresses?
Are you still saying this is a bad thing?