Here's a fact you won't here on Fox news today

[Gateman_Wen]

There's your reason for record high gas prices, guys.

 

[NatMorton]

What is this left-wing obsession with stock buybacks? It's mentioned time and again as if they're per-se bad. You get the sense these folks think it's some form of embezzlement.

 

[Schism]

 

[KingLeo]

There's your reason for record high gas prices, guys.

And do not forget that on top of that a conservative estimate from Oil Change International puts the U.S. total at around $20.5 billion annually, including $14.7 billion in federal subsidies and $5.8 billion in state-level incentives for the oil and gas industry per year.

 

[Schism]

What is this left-wing obsession with stock buybacks? It's mentioned time and again as if they're per-se bad. You get the sense these folks think it's some form of embezzlement.

They want it to be illegal to profit.

 

[Lutherf]

There's your reason for record high gas prices, guys.

A funny thing happens when, due to changes in US drilling and refining policy, oil goes from $25/bbl to $80/bbl. Under those circumstances the downstream profits tend to grow...a lot.

 

[Simpletruther]

They want it to be illegal to profit.

Sadly some of them Do.

 

[NatMorton]

They want it to be illegal to profit.

There we disagree. You cannot tax what is illegal.

What they want is to deliver a vague sense that somehow profit is really unearned and thus appropriately confiscated.

 

[Mycroft]

There's your reason for record high gas prices, guys.

If the Biden pukes wanted to reduce gas prices...which they don't...all they need to do is this:

• Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
• Finish the Dakota access pipeline.
• Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
• Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
• Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
• Continue to develop natural gas as a clean burning fuel.
• Drive Liquefied Natural Gas (LNG) as an export.

The Little Red Lyin' Twit Says Biden Will Try To Reduce Impact of Rising Oil Prices, but Won't Unleash U.S. Energy Resources - The Last Refuge

White House Press Secretary Jennifer Psaki said today the Biden administration will try to reduce the impact of rising oil prices for American consumers but will not do anything to allow increased production of U.S. energy resources. Oh, and it’s all Vladimir Putin’s fault, WATCH: I’ll keep...

theconservativetreehouse.com

 

[Simpletruther]

There's your reason for record high gas prices, guys.

Are you against profits?

 

[EdwinWillers]

There's your reason for record high gas prices, guys.

Twitter?

 

[Fletch]

There's your reason for record high gas prices, guys.

You wont see that on Fox because it is not the reason why gas prices are rising. It is a lame leftist attempt to shield Biden from blame.

 

[Ginger Ale]

Sadly some of them Do.

So you're ok with there investment and raising costs, to profit from it, but not from societies investment with taxes? Raising taxes to benefit all for say, a non profit healthcare system for all is bad.
Raising gas prices for a profit is good?

Got it......😉

 

[Crovax]

If the Biden pukes wanted to reduce gas prices...which they don't...all they need to do is this:

​

• Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
• Finish the Dakota access pipeline.
• Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
• Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
• Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
• Continue to develop natural gas as a clean burning fuel.
• Drive Liquefied Natural Gas (LNG) as an export.

The Little Red Lyin' Twit Says Biden Will Try To Reduce Impact of Rising Oil Prices, but Won't Unleash U.S. Energy Resources - The Last Refuge

White House Press Secretary Jennifer Psaki said today the Biden administration will try to reduce the impact of rising oil prices for American consumers but will not do anything to allow increased production of U.S. energy resources. Oh, and it’s all Vladimir Putin’s fault, WATCH: I’ll keep...

theconservativetreehouse.com

Also missing the main one, no exports until US needs are met

 

[iguanaman]

What is this left-wing obsession with stock buybacks? It's mentioned time and again as if they're per-se bad. You get the sense these folks think it's some form of embezzlement.

It is all about throwing away millions in profits to artificially raise share prices to get more bonuses for the executives. We need to tax these windfall profits so they do not benefit from wars and killing. It is unamerican behavior.

 

[Indlib]

If the Biden pukes wanted to reduce gas prices...which they don't...all they need to do is this:

​

• Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
• Finish the Dakota access pipeline.
• Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
• Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
• Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
• Continue to develop natural gas as a clean burning fuel.
• Drive Liquefied Natural Gas (LNG) as an export.

The Little Red Lyin' Twit Says Biden Will Try To Reduce Impact of Rising Oil Prices, but Won't Unleash U.S. Energy Resources - The Last Refuge

White House Press Secretary Jennifer Psaki said today the Biden administration will try to reduce the impact of rising oil prices for American consumers but will not do anything to allow increased production of U.S. energy resources. Oh, and it’s all Vladimir Putin’s fault, WATCH: I’ll keep...

theconservativetreehouse.com

Can you please specify what a "Biden puke" is?

 

[Simpletruther]

So you're ok with there investment and raising costs, to profit from it, but not from societies investment with taxes? Raising taxes to benefit all for say, a non profit healthcare system for all is bad.
Raising gas prices for a profit is good?

Got it......😉

Yes the free market is good. It should not be the role of government to provide health care.

 

[BlueTex]

What is this left-wing obsession with stock buybacks? It's mentioned time and again as if they're per-se bad. You get the sense these folks think it's some form of embezzlement.

It's pretty damn good indicator of a company flush with CASH...

 

[Airyaman]

You wont see that on Fox because it is not the reason why gas prices are rising. It is a lame leftist attempt to shield Biden from blame.

Good of you to drop in and be wrong as usual.

 

[BlueTex]

A funny thing happens when, due to changes in US drilling and refining policy, oil goes from $25/bbl to $80/bbl. Under those circumstances the downstream profits tend to grow...a lot.

Some people might get the idea that oil companies do VERY WELL when oil prices are high...

 

[eohrnberger]

The bottom 1/2 of that Tweet is the best part!

 

[BlueTex]

If the Biden pukes wanted to reduce gas prices...which they don't...all they need to do is this:

​

• Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
• Finish the Dakota access pipeline.
• Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
• Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
• Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
• Continue to develop natural gas as a clean burning fuel.
• Drive Liquefied Natural Gas (LNG) as an export.

The Little Red Lyin' Twit Says Biden Will Try To Reduce Impact of Rising Oil Prices, but Won't Unleash U.S. Energy Resources - The Last Refuge

White House Press Secretary Jennifer Psaki said today the Biden administration will try to reduce the impact of rising oil prices for American consumers but will not do anything to allow increased production of U.S. energy resources. Oh, and it’s all Vladimir Putin’s fault, WATCH: I’ll keep...

theconservativetreehouse.com

Do you believe the oil companies want to reduce prices and also Santa Claus and the Easter Bunny..

 

[eohrnberger]

If the Biden pukes wanted to reduce gas prices...which they don't...all they need to do is this:

​

• Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
• Finish the Dakota access pipeline.
• Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
• Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
• Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
• Continue to develop natural gas as a clean burning fuel.
• Drive Liquefied Natural Gas (LNG) as an export.

The Little Red Lyin' Twit Says Biden Will Try To Reduce Impact of Rising Oil Prices, but Won't Unleash U.S. Energy Resources - The Last Refuge

White House Press Secretary Jennifer Psaki said today the Biden administration will try to reduce the impact of rising oil prices for American consumers but will not do anything to allow increased production of U.S. energy resources. Oh, and it’s all Vladimir Putin’s fault, WATCH: I’ll keep...

theconservativetreehouse.com

Couldn't agree more. Especially the citation title.

 

[911Sparky]

Can you please specify what a "Biden puke" is?

Anyone who disagrees with him.

 

[EdwinWillers]

There's your reason for record high gas prices, guys.

This crap has to be one of the first forms of Internet misinformation there is - the "Oh my!!! Oil companies make billions in profits" meme.

Ok - so three of the major oil companies mentioned in the twit's tweet that the OP quoted netted $46 billion in profits.
Anyone know what they grossed? That is after all a pretty relevant data point too. How about $360 Billion dollars?

("I know, huh? That's a huge amount of revenue!")

What was their profit margin though? 46bn / 360bn = 12.8% which isn't a bad profit margin. But know what their expenses were? Yep - $360bn - $46bn = $314 billion dollars. Of course, you never hear anyone bitching about that.

Of course, that's just those three companies. On average however, their industry is netting only about 5-6% profit across all companies in that realm.

Moreover, there are industries that are netting considerably more than these three oil giants, and even more than their industry as a whole:


Financial is at a whopping 23.8% net profit - yet I don't hear anyone complaining about them. But maybe next time you open your bank statement...?
Capital Goods, Consumer Discretionary, even Technology - complaints? Not hearing them, are you?

Did you know DENTISTS net more than those three big oil companies - percentage-wise?