[Topspinmo]

Gas prices


Now, who’s willing to bet 6 plus bucks gallon by Labor Day!


IMO OIL COMPANIES don’t control prices stock market does..

Crude Oil Prices Today | Brent and WTI Price Charts

[Keefelane66]

I'll say the 4th of July. Thanking myself I didn't invest in a Winnebago (sarcasm).

[coralway]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

[Nucky]

Originally Posted by Keefelane66

I'll say the 4th of July. Thanking myself I didn't invest in a Winnebago (sarcasm).

Not crying for you, crying for me. Damn. At least it's Gas.

[Stu from NYC]

Originally Posted by coralway

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?

[coralway]

Originally Posted by Stu from NYC

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?

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.

[Papa_lecki]

Originally Posted by coralway

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

Chevron had sales of $62 billion, profit margin was 11%.

[Stu from NYC]

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.

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?

[Chi-Town]

Originally Posted by Stu from NYC

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?

Make sense. Don't reinvest the profits into alternative sources of energy. Just let the demand run out and call it a day. Not a long term strategy but you gotta make hay while the sun shines.

[Eg_cruz]

Originally Posted by Stu from NYC

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?

Tie them over from what……oil / gas companies …….don’t need any handouts. Did they have massive lay offs when me were paying undear $2 a gallon no……did they have to close their doors….no. Did they still make massive profits ….yes

[donassaid]

What an insensitive and out of touch response. So you are ok with paying 2 1/2 times more for gas than 18 months ago? Double what you paid for milk and other food products in the same time period? I guess you must be a rich liberal who can afford to pay $10/gal for gas if need be. Most of us are not in that boat.

[B-flat]

Originally Posted by donassaid

What an insensitive and out of touch response. So you are ok with paying 2 1/2 times more for gas than 18 months ago? Double what you paid for milk and other food products in the same time period? I guess you must be a rich liberal who can afford to pay $10/gal for gas if need be. Most of us are not in that boat.

Thank you! I agree!

[biker1]

These numbers, without context, are meaningless. To start with, what were the revenues?

Originally Posted by coralway

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

[Two Bills]

Drove through UK, Belgium. Germany and France over the last week.
Fuel is costly everywhere, and higher priced, ( mainly Gov. Taxes) than USA.
You are not alone.
UK 5% methanol, £1.89 liter. =£8.69 ($10.86) Imp. Gallon.

Even worse, our pub has put the price of a pint up 15% to £3.95 a pint, that's £31. 60 ($39.50) a gallon!
Thinking of drinking 10% Ethanol gas in future to save a few quid!

[Robbb]

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.

Its called supply and demand. When the government restricts supply buy increasing regulations, canceling pipelines, discouraging investment, and delaying or canceling permits, supply drops and prices skyrocket. This is a completely self inflicted crisis. The answer, drill baby drill.