Chevron CEO Says Biden Should Stop Criticizing Big Oil

So once they get the oil out of the ground, will they also have the pipelines and refineries built to process it? I hope they don't block their own refinery permit because gov't has made it damn near impossible for any new refineries to be built since the 70's...... or were they going to ask to send it to..... an Exxon refinery?

 

easy to get oil companies to reduce supply to increase profits

harder and takes more time to get them to increase supply to reduce profits


Trump was pro big oil, anti consumer

 

Biden just doesn't have what it takes to get it done.

 

they can sell to the refineries for cheaper or build their own

big oil can avoid this by not screwing the American consumer

 

you're right, big oil is greedy and will not listen to Trump or Biden when it comes to lowering profits

 

Define record profit.

As I posted in another thread Exxon's net operating margin last quarter was 8.6%. Do you tell your investment advisers to make sure your money is only in companies that make less than that?

And are you REALLY serious to believe that the federal government could produce our oil and gas needs more efficiently and at a lower cost than the private market?

 

See my sig, who is going to invest in new refining capacity with this current administration?

 

yeah, they hurting so bad, boo hoo

"Big Oil Posts Massive $41B Profits in Q1 Thanks to High Consumer Gas Prices"

https://www.accountable.us/news/big...its-in-q1-thanks-to-high-consumer-gas-prices/

 

who invested with the last Administration, how many new refining facilities went online under Trump, how many went off-line - there was more refineries online when Trump took office than when he left


https://www.washingtonpost.com/business/2022/06/20/refineries-profit-gas-prices/

"Though some of those industry woes were emerging last year as companies grappled with a glut of oil, people in the business say they were made worse by the president’s trade wars and mishandling of the coronavirus pandemic. So far least 40 U.S. oil companies have sought bankruptcy protection in 2020 while dozens of others have slashed spending and cut tens of thousands of jobs."

 

Michael Wirth has been been paid over $82 Million in salary alone in the last 3 years. His Pension value has increased another $26 million in that same period. Thats ONE GUY. the top 10 exec in that company have been paid over billion dollars in that same period.

10 People (top execs) made over $1 Billion dollars in the last 3 years.........

So please Michael, tell us what "challenges" you've faced ?

 

No, he is waging war against all carbon based fuels. He wants to regress back to the days of wind and solar power generation rather than continuing to make use of the much more efficient carbon based fuels.

You also ignored the part of my comment where I brought up this little thing called profit margins. You didn't realize that oil companies only have a roughly 6-10% profit margin, did you? What is so "outlandish" about that?? What is so "price gouging" about that??

 

regress back to the days of wind and solar, lol, that is not regressing, the more the better

but oil is going nowhere for a long time


when foreign oil increases, US oil profits decline, I did know that, foreign oil is cheaper to produce - US oil doesn't want to increase supply if foreign oil is gonna increase supply as it would be wasted spending, and they are pro-profits... not pro-American Consumers

 

During the COVID pandemic of which we have been out of for over a year.

Who is going to invest in oil production and refining under the current administration? Read my sig. From your own cite.

"Oil refineries across the country are being retired and converted to other uses as owners balk at making costly upgrades and America’s pivot away from fossil fuels leaves their future uncertain.....

....“It’s been 50 years since we built a new one,” Wirth said. “In a country where the policy environment is trying to reduce demand for these products, you are not going to find companies to put billions and billions of dollars into this.” "

 

On what amount of sales? Is that gross or net profit?

 

the Pandemic is still going, I have known people still getting sick, left and right

 

What amount in your mind would justify charging Americans so much at the pump

 

Im sorry this is such an ignorant take. The last thing the oil industry wants is to bleed it's customers dry. If they bled them dry, what happens next, THEY LOSE MONEY because they bled their customers dry.

 

It confirms that either your source is an idiot or confident that his audience is.

Big oil's profit margin is a minor fraction of their tax rate, which is much much higher. If you think their profit margin unreasonably adds to the price at the pump, explain why you are not "concerned" that that their tax rate does even more.

It appears to me that much of the Left wants high prices so as to reduce the mobility of Americans below their elite class, but, they want to dodge the just electoral pushback against their illegitimate authoritarianism.

“The President has been very clear in making sure that he does everything that he can to elevate — to alleviate the — you know, the pain that American families are feeling when it comes to gas prices,” Jean-Pierre replied."

Why yes, we know exactly what he's doing.

​

 

I think you're on to something. Biden made it no secret when he was campaigning that he would get rid of the fossil fuel industry pushing us towards the Green New Deal. He openly stated he believed climate change to be the #1 threat to our nation. Why wouldn't they want and welcome exorbitant gas prices if it gets us closer to EVs?

 

"It confirms that either your source is an idiot or confident that his audience is. "

big oil is making huge profits, no justification for the higher prices, but big oil knows some of their customers are stupid enough to blame government for their price hikes

 

People get sick everyday of a variety of illinesses, COVID has been over for over a year now. It was Biden's policy "Hey I need to be able to say I saved the country" and hugely unnecessary spending and paying people not to work for which we are paying now.

 

I asked you on the number you cited.

On what amount of sales? Is that gross or net profit?

 

How much profit is too much and by what measure? There are lots of different measures of "profit".

 

Still nothing to say about the roughly 6-10% profit margin that numerous oil companies are operating at? PRICE GOUGING!!! PRICE GOUGING!!!! lolololololololol

 

You seem to be unaware of the scale of such companies. You still continue to ignore 'profit margin' in favor of 'profit'.