Gas

[Montana'eer]

If you look at what I attached in my post above their net margin (gross margin - operating expenses) they are not making any unusual profits. In fact in 2013 their profits were higher. Also look at 2020 and 2021 profits. Over that two year period their net income was almost zero. Bottom line companies don't exist without profit unless they are propped up by the government.

I'll look at it. One of the sources I read was this-

Exxon, Chevron, Shell Report Record Profits on High Energy Prices

Exxon, Chevron and Shell banked a record $46 billion in collective profits in the second quarter.

www.wsj.com

Exxon XOM 1.83%▲ Mobil Corp., Chevron Corp. CVX 1.49%▲ and Shell PLC, SHEL 1.58%▲ the three largest Western oil companies, banked a record $46 billion in collective profits in the second quarter, fueled by the highest energy prices in over a decade and lucrative oil-refining margins.

The historic profits come as companies reap the benefits of record fuel-making margins following the shutdown of 3 million barrels a day of global refining capacity since the onset of the pandemic in 2020. Exxon Chief Executive Darren Woods said while refining margins have moderated recently, it's a situation that could take years to fix until additional capacity comes online.

"Demand recovers, and we don't have the capacity to meet that, which has led to record, record refining margins," Mr. Woods said. "This will be a few-year price environment."

On Thursday, Shell reported its second consecutive record quarterly profit, hitting $16.7 billion in profit on a net current-cost-of-supplies basis, a figure similar to net income that U.S. oil companies report.

And this-

Chevron CEO says there may never be another oil refinery built in the US

Chevron CEO Mike Wirth says he doubts a new oil refinery will ever be built in the U.S. again, given the federal government's policies.

www.foxbusiness.com

"Capacity is added by de-bottlenecking existing units by investing in existing refineries," he explained. "But what we've seen over the last two years are shutdowns. We've seen refineries closed. We've seen units come down. We've seen refineries being repurposed to become bio refineries. And we live in a world where the policy, the stated policy of the U.S. government is to reduce demand for the products that refiners produce."

"At every level of the system, the policy of our government is to reduce demand, and so it's very hard in a business where investments have a payout period of a decade or more," Wirth said. "And the stated policy of the government for a long time has been to reduce demand for your products."

To put things in perspective, Wirth asked rhetorically, "How do you go to your board, how do you go to your shareholders and say 'we're going to spend billions of dollars on new capacity in a market that is, you know, the policy is taking you in the other direction."

Chevron CEO's statement is (without outright saying it)- why build more capacity for a product that is going to lose market share- i.e. EV's.

 

[Montana'eer]

This is a little more clear

Exxon Revenue 2010-2024 | XOM

Exxon annual/quarterly revenue history and growth rate from 2010 to 2024. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Revenue is the top line item on an income statement from which all costs and expenses are...

www.macrotrends.net

So looking at the link for macrotrends for Exxon, and zeroing in on EBITDA (a simple metric of earnings cash flow)- Exxon did have a pretty record breaking year.

The net profit wasn't a record over macrotrends historical timeline, but EBITDA certainly looks to be a record. Once the pandemic lifted they had a stellar year as demand went thru the roof.

 

[2buffalo]

So looking at the link for macrotrends for Exxon, and zeroing in on EBITDA (a simple metric of earnings cash flow)- Exxon did have a pretty record breaking year.

View attachment 391675

The net profit wasn't a record over macrotrends historical timeline, but EBITDA certainly looks to be a record. Once the pandemic lifted they had a stellar year as demand went thru the roof.

What difference does it make how much a corporation makes before all their costs have been accounted for? The SEC doesn't even accept it in GAAP.

 

[Montana'eer]

What difference does it make how much a corporation makes before all their costs have been accounted for? The SEC doesn't even accept it in GAAP.

Measure of cash flow. It is a useful metric of operational results. EBITDA is simple, non-GAAP, UCA cash flow or statement of cashflows is more precise- showing sources and uses of cash and that is a GAAP standard, IIRC.

 

[Frank in the Laurels]

$46 BILLION !!! JAIL a few CEO's, it was all a completely made up line of bull---- !!

 

[dustbag]

$46 BILLION !!! JAIL a few CEO's, it was all a completely made up line of bull---- !!

Gas…Medicine…Education…Taxes…Primers!!!!

 

[Frank in the Laurels]

Gas…Medicine…Education…Taxes…Primers!!!!

I can't belive I saw a 1000 for $112.00 !! Makes gas cheap, down to $3.69 in PA...

 

[dustbag]

I can't belive I saw a 1000 for $112.00 !! Makes gas cheap, down to $3.69 in PA...

I can't believe you saw them! Lol. Haven't seen large/mag rifle primers in the flesh for long time. Small rifle pistol yes others no. Don't need them just would like to know they're there.
Love your elk pics by the way. Unbelievable.

 

[Frank in the Laurels]

I can't believe you saw them! Lol. Haven't seen large/mag rifle primers in the flesh for long time. Small rifle pistol yes others no. Don't need them just would like to know they're there.
Love your elk pics by the way. Unbelievable.

Crazy part is the manufacturers accomplished the antis main objective, to stop us from shooting...strange turn of events !!!

 

[birddog 68]

I can't belive I saw a 1000 for $112.00 !! Makes gas cheap, down to $3.69 in PA...

I live in western Pa and it's still $4. But it's down from the over $5 I was paying. Yippee

 

[dustbag]

Diesel up over 5 again but gas down in 350s in central WI