Oil and the massive profits (1 Viewer)

[US&THEM]

• Aramco’s net income increased by 124% to $110 billion in 2021, compared to $49 billion in 2020.

Saudi Aramco's full-year profit more than doubles on soaring oil prices

Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion.

www.cnbc.com

 

[Simpletruther]

• Aramco’s net income increased by 124% to $110 billion in 2021, compared to $49 billion in 2020.

Saudi Aramco's full-year profit more than doubles on soaring oil prices

Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion.

www.cnbc.com

Yes that can happen when prices go up. Pretty basic stuff.

 

[US&THEM]

Yes that can happen when prices go up. Pretty basic stuff.

Especially when you can dictate and manipulate the market.

 

[Simpletruther]

Especially when you can dictate and manipulate the market.

It helps. But I doubt it happens much, at least in the colluding sense.

 

[US&THEM]

It helps. But I doubt it happens much, at least in the colluding sense.

%124 in a year

 

[HikerGuy83]

• Aramco’s net income increased by 124% to $110 billion in 2021, compared to $49 billion in 2020.

Saudi Aramco's full-year profit more than doubles on soaring oil prices

Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion.

www.cnbc.com

Oh, that's terrible.......

Wait...what does basic economics teach. That if someone is making big profits, more competition will enter the field.

Who is jumping in ?

 

[US&THEM]

Oh, that's terrible.......

Wait...what does basic economics teach. That if someone is making big profits, more competition will enter the field.

Who is jumping in ?

OPEC in your basic economics lesson?

 

[Simpletruther]

%124 in a year

That doesn't mean someone is dictating the market. It has dropped that much before too, did they decide to just be nice and dictate that drop?

 

[HikerGuy83]

OPEC in your basic economics lesson?

OPEC is already in the mix.

Economics says.....if someone is making a profit, competitors enter the field.

So who is jumping in ?

 

[US&THEM]

OPEC is already in the mix.

Economics says.....if someone is making a profit, competitors enter the field.

So who is jumping in ?

The Saudis run the show and we saw what happened when Russia tried to play. The US isn’t stepping up either.

 

[CaughtInThe]

i'm tired of arguing with people that don't know that oil companies are even profitable.

it's brain numbingly boring.

 

[HikerGuy83]

The Saudis run the show and we saw what happened when Russia tried to play. The US isn’t stepping up either.

Wonder why not ?

 

[HikerGuy83]

i'm tired of arguing with people that don't know that oil companies are even profitable.

it's brain numbingly boring.

Have a day.

 

[US&THEM]

Wonder why not ?

Are you done wasting everyone’s time?

 

[EdwinWillers]

%124 in a year

So?

What were they they year(s) prior?

Exxon's profits for 2021 were $24B
Chevron's profits for 2021 were $15.6B
BP's profits for 2021 were $12.85B
Shell's profits for 2021 were $19.29B

For all four, these profits were the most they'd made since 2014, in seven (7) years.

Exxon lost $22.4B in 2020
Chevron lost $5.5B in 2020
BP lost $5.7B in 2020
Shell made $4.65B in 2020, the most since 2014

It's easy to see such large profit numbers - but no one wants to address the incredibly large LOSSES in years prior.

 

[US&THEM]

So?

What were they they year(s) prior?

Exxon's profits for 2021 were $24B
Chevron's profits for 2021 were $15.6B
BP's profits for 2021 were $12.85B
Shell's profits for 2021 were $19.29B

For all four, these profits were the most they'd made since 2014, in seven (7) years.

Exxon lost $22.4B in 2020
Chevron lost $5.5B in 2020
BP lost $5.7B in 2020
Shell made $4.65B in 2020, the most since 2014

It's easy to see such large profit numbers - but no one wants to address the incredibly large LOSSES in years prior.

Covid was a bitch

 

[Craig234]

So let's pass the windfall profits tax to return 50% of the windfall profits to the American people.

 

[BirdinHand]

Aramco’s net income increased by 124% to $110 billion in 2021, compared to $49 billion in 2020.

They were at $88.2B in 2019.

2020 was a year of HUGE losses - which is also why 2021 gains look HUGE in comparison.

 

[HikerGuy83]

They were at $88.2B in 2019.

2020 was a year of HUGE losses - which is also why 2021 gains look HUGE in comparison.

But...but....but.....

According to superrich @CaughtInThe, they are profitable.

 

[HikerGuy83]

So?

What were they they year(s) prior?

Exxon's profits for 2021 were $24B
Chevron's profits for 2021 were $15.6B
BP's profits for 2021 were $12.85B
Shell's profits for 2021 were $19.29B

For all four, these profits were the most they'd made since 2014, in seven (7) years.

Exxon lost $22.4B in 2020
Chevron lost $5.5B in 2020
BP lost $5.7B in 2020
Shell made $4.65B in 2020, the most since 2014

It's easy to see such large profit numbers - but no one wants to address the incredibly large LOSSES in years prior.

But but but......

 

[Razoo]

I want my kickback delivered every quarter we can call it a rebate. When fossil fuels become more expensive so does just about everything else on the market. Let's call it a multiple whammy.

 

[US&THEM]

But...but....but.....

According to superrich @CaughtInThe, they are profitable.

Are you arguing they aren’t profitable as they are the only the #2 in the world? Another thing you thin KSA is open and honest with their books?