Still plenty of drilling oil companies could be doing. What's stoping them from doing it? Nothing.
Oil Prices
- Thread starter ok doser
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ok doser
lifeguard at the cement pond
Detailed analysis with charts and figures and calculations, oh my!
Of course this will be beyond the abilities of the average leftist who has the IQ of a peanut. Or an AOC.
Of course this will be beyond the abilities of the average leftist who has the IQ of a peanut. Or an AOC.
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Oil producers must make profits to keep producing. As oil companies face increased costs their profits shrink and production declines. If politicians adopt the nonsensical idea that oil companies are super-rich and greedy and those politicians and regulators increase the financial burdens on them then production will fall and prices will rise.
They're making plenty of profits, right now. Your point?
The common misconception of the poor and lazy class is that all business owners are unfairly rich. What a stupid thing to think.
Totally irrelevant to the topic we are discussing, but whatever.
Oil companies that are still in business are still in business in spite of government over-taxation and overregulation. Any profits made by businesses in the free market are good for the free market but excessive seizures of the profits businesses need for sustainability and growth hurts businesses and the economy.
I don't know what all that blather is about because it's got nothing to do with the fact that petroleum companies are reporting record profits:
Exxon signals record quarterly profit from oil and gas prices
HOUSTON (Reuters) -Exxon Mobil Corp on Monday said its first-quarter results could top a seven-year quarterly record, with operating profits from pumping oil and gas alone of up to $9.3 billion. A snapshot of the largest U.S. oil company's quarter ended March 31 showed operating profits from...
finance.yahoo.com
And there is no lack of new drilling and production opportunities available to them right now.
What financial burdens, exactly?
They are making money hand over fist.
If they want to cut costs, they can always cut back on their lobbying.
Poor, greedy, selfish, lazy, unregenerate workers tend to stupidly think that businessmen are rich and greedy, but such nonsense has nothing to do with facts and truth. Karl Marx once said "Religion is the opiate of the masses, but he was lying and ignorant. The opiate of the lazy and unregenerate is Marxism. The lazy and ignorant believe, like Marx, that the hardworking and prosperous are stealing money that should be given to the lazy and ignorant for being poor.I don't know what all that blather is about because it's got nothing to do with the fact that petroleum companies are reporting record profits:
Exxon signals record quarterly profit from oil and gas prices
HOUSTON (Reuters) -Exxon Mobil Corp on Monday said its first-quarter results could top a seven-year quarterly record, with operating profits from pumping oil and gas alone of up to $9.3 billion. A snapshot of the largest U.S. oil company's quarter ended March 31 showed operating profits from...
And there is no lack of new drilling and production opportunities available to them right now.
Far too many American democrat politicians are deluded into the same sort of ridiculous Marxist thinking. Marxists are the curse of free markets, the curse of freedom, the curse of prosperity, and the curse opposed to what is good and right. Don't be stupid like Marx. His problem was rooted in his rebellion against God which turned him into a stark-raving fool.
My object in life is to dethrone God and destroy capitalism.
Karl Marx
You are wrong here. Most oil companies do not have a substantial cash reserves. And by most oil companies I mean the relatively small independent companies that produce about 80% of the oil in the US.
Links to reputable sources?
I see nothing there about these independent producers being unable to secure funding for new drilling and production.
Then the question is no longer why oil producers will not pump oil, but why are investors not taking advantage of a great opportunity. Let us know what you find.
And, BTW, it means you are still wrong.
Investors realize that either the government will pull the rug out from under their investment, or the government has placed restrictions on production that increase costs so there is no opportunity to make profits even if oil is high.
Your turn. What is the answer?
"Still plenty of drilling oil companies could be doing. What's stoping them from doing it? Nothing."
Actually, no, they don't know that. Your claim that "there is no opportunity to make profits even if oil is high" is false.
That statement stands.