US Oil Producers Fail to Produce

[Parkbandit]

Civil Rights culturally appropriated by Republicans, fantastic. Too bad it's all recent enough voting records for the Civil Rights Act itself to prove this was a Democrat achievement.

Is this where you will claim that Lincoln was a Democrat, that the Republicans started the KKK and Jim Crow laws.. and that Democrats have always been the party for civil rights and woman suffrage?

Because you are even far more gone that drauz.

[Parkbandit]

The Georgia state House and state Senate were firmly in the hands of Democrats until 2003 when Republicans narrowly took control of the Senate while Democrats remained in control of the House. Republicans took control of both chambers in 2005. But don't let facts stand in your way!

You're crediting an event in 1964 for what happened in Georgia a full 4 decades later. Might as well say sending Americans to the moon is to blame for Georgia turning red!

Leave it to tgo01 to fuck this up....


Asshole.

[drauz]

Well, if you are using less than 1% of the Congressional population to proclaim the magical party switch.... what are you using for the theory that south started turning Republican after 1964?

You could just look at what party starting winning the popular vote in each southern state, crazy how it is straight democrat and then magically in 1964 it turns republican for all of them. Almost like they saw what they wanted in a new political party. Just keep sticking your head in the sand.

[Parkbandit]

You could just look at what party starting winning the popular vote in each southern state, crazy how it is straight democrat and then magically in 1964 it turns republican for all of them. Almost like they saw what they wanted in a new political party. Just keep sticking your head in the sand.

I'm going to need a source for this.

"Straight Democrat for every southern state.. then in 1964 until today for all of them." -drauz 2022

I'll wait for it... but we both know you already figured out that you are wrong.

[Seran]

ExxonMobil and Chevron posted their quarter one profits for 2022 and their profits merely double or quintupled from the prior year. I'm sure the Republic party will be OUTRAGED they're going to have to pay reduced taxes while reaping some of the highest profits in the history of both companies. It's worth noting ExxonMobil may have tripled it's prior year earnings if they didn't write-down a Russian endeavor, not that those assets are going anywhere, or that Russia announced seizing equipment or demanded a payout.

American's are facing their own records -- energy derived inflation in all things from food, consumer products, fuel expenses. But THANKFULLY that money is going into the pockets of gleeful oil industry executives. You know, the ones who have publicly stated they're keeping oil supply low to boost oil prices.

Exxon And Chevron Post Blockbuster Earnings As Oil Prices Soar

ExxonMobil (NYSE: XOM) doubled its earnings to $5.5 billion for Q1 compared to the same period of last year, despite a $3.4 billion after-tax charge related to its decision to exit the Russia Sakhalin-1 project.

Chevron (NYSE: CVX), for its part, reported adjusted earnings of $6.5 billion, or $3.36 per diluted share, for first quarter of 2022. That’s more than triple the adjusted earnings of $1.7 billion for the first quarter of 2021, and the highest quarterly earnings for Chevron since 2012.

https://oilprice.com/Energy/Energy-G...ices-Soar.html

[Seran]

Record profits in the European sector as well, as BP, Shell and energy commodities trader TotalEnergies disclose they're profiting in buy/selling commodities stock as much as they are actually producing and refining oil. Meanwhile, the Right continues blaming the Biden administration for high oil prices as a smokescreen on behalf of Big Oil, who hasn't seen quarterly returns like this since the last time commodities and derivatives almost destroyed our economy in 2008. As always, the numbers speak for themselves and Big Oil is the clear culprit.

BP, for example, reported last week a quarterly profit that was more than double last year's first quarter— far exceeding analyst expectations, thanks to high oil prices and what it described as an "exceptional" oil and gas trading business.


The strong first-quarter earnings were "driven by exceptional oil and gas trading, higher oil realizations and a stronger refining result, partly offset by the absence of Rosneft from the first quarter underlying result," BP said. The firm hailed "an exceptional gas marketing and trading result, albeit lower than in 2021." In its customers & products division, BP noted a return to profit in refining and "an exceptional oil trading result."


BP's combined refining and trading adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) surged to over $2 billion in the first quarter, from $400 million for Q4 2021 and $419 million for the same period last year, the earnings release showed. But the company—like the other majors—isn't breaking down the results from trading only, nor does it say how much it is earning from oil and/or gas trading.


BP likely made $1.2 billion from gas trading and another $400 million from oil trading in the first quarter, Oswald Clint at Bernstein has estimated.

For Shell, "trading plays an integrated part in our results always," CFO Sinead Gorman said on the call.


"But particularly this quarter, it's fair to say that in our chemicals and products area, particularly on the product side, we had very strong trading and optimization results," Gorman added, without specifying numbers.


"Trading is doing a fantastic job," said Wael Sawan, Integrated Gas, Renewables and Energy Solutions Director at Shell.

TotalEnergies noted the "outperformance by its oil trading activities" and "very good performance of the gas, LNG and electricity trading activities."


Outperformance in crude oil and petroleum products trading activities helped TotalEnergies see a jump in its adjusted net operating income for the Refining and Chemicals segment—that income surged to $1.12 billion for Q1 2022 from $243 million for the first quarter of 2021.

https://oilprice.com/Energy/Energy-G...g-Profits.html

[Neveragain]

Record profits in the European sector as well, as BP, Shell and energy commodities trader TotalEnergies disclose they're profiting in buy/selling commodities stock as much as they are actually producing and refining oil. Meanwhile, the Right continues blaming the Biden administration for high oil prices as a smokescreen on behalf of Big Oil, who hasn't seen quarterly returns like this since the last time commodities and derivatives almost destroyed our economy in 2008. As always, the numbers speak for themselves and Big Oil is the clear culprit.







https://oilprice.com/Energy/Energy-G...g-Profits.html

Tell us you don't know how supply and demand works without telling us you don't know how supply and demand works.

[Suppa Hobbit Mage]

You know what I think was a boss move? Opening up the reserves because gas prices are too high, then selling that oil at market value to the public while simultaneously accusing oil producers of price gouging.

That takes an INCREDIBLE amount of balls.

Or hypocrisy. I'm going to go with hypocrisy.

[Seran]

You know what I think was a boss move? Opening up the reserves because gas prices are too high, then selling that oil at market value to the public while simultaneously accusing oil producers of price gouging.

That takes an INCREDIBLE amount of balls.

Or hypocrisy. I'm going to go with hypocrisy.

Oil producers: "Oil prices are high in the US because world wide supply has decreased!! Pump less oil!"
Republicans: "BIBENPREZ is allowing oil companies who buy SPR oil to ship it overseas to offset supply supply disruptions!!! He's even asking market price as not to hurt US taxpayers!! IMPEACH IMPEACH"
Americans: "Why are oil companies raking in record profits when I can't afford rent?"
Republicans: "More regulations on oil sales, less regulations on drilling, less taxes on oil company profits because THEY ARE HURTINGGGGGG. Down with BIBEN!"
Oil producers: "Huehuehue"

[Parkbandit]

Oil producers: "Oil prices are high in the US because world wide supply has decreased!! Pump less oil!"
Republicans: "BIBENPREZ is allowing oil companies who buy SPR oil to ship it overseas to offset supply supply disruptions!!! He's even asking market price as not to hurt US taxpayers!! IMPEACH IMPEACH"
Americans: "Why are oil companies raking in record profits when I can't afford rent?"
Republicans: "More regulations on oil sales, less regulations on drilling, less taxes on oil company profits because THEY ARE HURTINGGGGGG. Down with BIBEN!"
Oil producers: "Huehuehue"

Even Jen Psaki said you are full of shit and retarded. Here's her quote:

"U.S. production of natural gas and oil is rising and approaching record levels: More natural gas than ever this year, more oil than ever next year, and, even with a global pandemic, more oil production this past year than during the previous administration’s first year."

It must suck when your own side also thinks you are a mouth breathing retard.

Finally, something that has broad bi-partisan support!