Chevron CEO Says Biden Should Stop Criticizing Big Oil

Yes, and it's irrational.

EV are not "green" they are filthy. They rely on elements that require strip mining and not with electric powered excavation equipment. And then the used batteries and so forth are environmental nightmares.

And of course, they could care less about the mass environmental damage that is resulting from their green madness, they want Americans in high density housing and on mass transit while they live in luxurious estates with private security and make extensive use of private jets for travel.

Fortunately, like vegans, they can't shut up about their obsessive sick compulsion to micromanage others, which means they reveal it, making them easy to identify and vote against.

 

Biden has not shut down the country like Trump did, we learn as we go

 

look it up yourself if you have questions

 

so do you like high gas prices at the pump? what price is too high for you?

 

if you like the high gas prices, then don't worry about big oil's billions in profit

 

I know they do not have to charge us as much as they are

once foreign supply increases, it will force US oil to reduce prices at the pump

 

Big Oil's tax rate is much higher than their profit rate. If their profit rate drives up the pump price obviously their tax rate does to.

 

yeah, sure they pay more taxes, we remember seeing what Enron paid

 

Yup, you still have absolutely nothing to say about the roughly 6-10% profit margin that numerous oil companies are operating at...

Their "billions in profit" is such a small percentage of their total revenue, but you refuse to focus on this fact because you wish to distract people with screaming "BILLIONS IN PROFITS!!!!" without any context for it.

Regardless of whether Shell is making "BILLIONS IN PROFITS!!!" or only thousands in profits, Shell currently has a net profit margin of roughly 8%. That means that, for every $1 that Shell earns in revenue, only $0.08 is a net profit for them. Does that seem like "PRICE GOUGING!!!! PRICE GOUGING!!!! GRRRRR!!!!" to you????

Chevron has a roughly 12% net profit margin.
Exxon has a roughly 6% net profit margin.
Marathon has a roughly 8% net profit margin.
Phillips 66 has a roughly 1.5% net profit margin.
BP has a roughly -42% net profit margin. Their prior financials showed a roughly 4.5% net profit margin.

None of these companies appear to be "PRICE GOUGING!!!!! GRRRRRR!!!!!" to me...

 

Yes, they do (if they wish to stay in business). They have expenses too... Many BILLIONS AND BILLIONS OF DOLLARS!!!!! GRRRRR!!! of expenses, as a matter of fact...

 

so far so good. Everybody is paying the high prices while they are raking in record profits.

 

seems many on the right want high gas prices, not sure why

 

no they don't, they will lower them when foreign supply increased, which means they could have at any time - they only choose to do it when forced too

 

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

 

How can I look up YOUR claim? And I already cited you Exxon's last quarter net operating margin, is 8.6% too much?

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

 

He kept paying people not to work preventing the economy from continuing the recovery he inherited and driving up the cost of labor and inflation.

 

no he did not, Trump did that

can you tell me how many states have reached Trump's reopening guidelines

none ever did, we just gave up on them

"The 3 phases of the Trump reopen guidelines

https://trumpwhitehouse.archives.gov/openingamerica/

 

How can they be "PRICE GOUGING PRICE GOUGING!!!!! GRRRRR!!!!!" if their net profit margins are only roughly 6-10%??

Whether they are "raking in record profits" or only making small profits, $0.08 of profit for every dollar of revenue is only $0.08 of profit for every dollar of revenue.

No one has yet to tell me how that is somehow "PRICE GOUGING!!!!! GRRRRR!!!" ...

 

Democrats want high gas prices because they are pushing an ideological 6uild 6ack 6etter Green New Deal agenda.

 

Yeah so. The higher the price goes up, the bigger the revenue goes up, while the profit margin remains equal... thundering in a massive profit by increasing the revenue.

Or in other words:
They aint making a bigger profit by being more productive/efficient/working smarter with the same revenue.
They are dependent on high oil prices to make bigger amounts of profit.

 

if they did, then they owe republicans a thank you for making them so high


and the Trump family actually owned a building with '666' on it - so if you were looking for a sign

 

My point exactly. Expenses are going up as well, hence why the prices need to be higher in order to maintain an 8% profit margin.

When expenses increase, and when their cost of goods sold increases, they need more revenue to offset those increases and to remain profitable (IOW, maintain an 8% profit margin). That means higher prices for the product (since the cost to sell the product increased).

 

Yes, everything remains the same, except 1 thing: they earn more money. They are maximizing the earning more money by making everything more expensive. Their stock owners are thrilled how much money is being made, when they get a share of it. They do not care that the profit margin is still the same. They are eyeballing the massive bankaccount.

While their customers are not making more to pay for that, and so cut cost somewhere else.

 

Weird that people don't get that.

 

Nahhh, if they did, they could not use it as a political cudgel.