So in coming years if like crashes and oil companies loose money, will we give them back the tax to restore a "fair" profit for the year?Even before Vladimir Putin’s invasion of Ukraine shocked energy markets and sent oil prices to over $100 a barrel, Exxon was banking obscene profits. On February 1, the Texas-based fossil fuel giant announced profits of almost $9 billion for the fourth quarter of 2021—its biggest take in seven years.
Exxon didn’t have to party alone; Chevron, Shell, and BP were announcing surpluses of only slightly less startling proportions.
“Combined, the four companies raked in $24.4 billion in quarter four of 2021, bringing their total profits for last year to over $75.5 billion. Chevron, Shell, BP, and Exxon used these bloated profits to shower billions onto their shareholders—including their wealthy executives whose salaries are heavily padded with stocks,” reported the watchdog group Accountability.US.
“In 2021, the four companies bought back over $6.6 billion in stocks while hiking up their dividends. And the oil giants are planning for an ‘even better’ 2022 for shareholders, with plans already in place to buyback over $22 billion in stock thanks to high oil prices.”
In fact, 2022 could be dramatically better for Exxon and the other major oil companies.
Price-Gouging Oil Companies Need to Pay a Windfall Tax
Prices at the pump are shooting up as oil companies turn massive profits. A windfall-profits tax could go a long way toward providing relief for working families.www.thenation.com
Huh?Because the left will do almost anything besides go out and get a job and make something of themselves.
So in coming years if like crashes and oil companies loose money, will we give them back the tax to restore a "fair" profit for the year?
Google translate not working?So in coming years if like crashes and oil companies loose money, will we give them back the tax to restore a "fair" profit for the year?
So in coming years if oil price crashes and oil companies loose money, will we give them back the tax to restore a "fair" profit for the year?Google translate not working?
Big oil is exploiting their customers daily by using the Invasion as an excuse.So in coming years if oil price crashes and oil companies loose money, will we give them back the tax to restore a "fair" profit for the year?
Not just oil companies. If any product's price went up 4-5 times the rate of inflation they need to be investigated.Even before Vladimir Putin’s invasion of Ukraine shocked energy markets and sent oil prices to over $100 a barrel, Exxon was banking obscene profits. On February 1, the Texas-based fossil fuel giant announced profits of almost $9 billion for the fourth quarter of 2021—its biggest take in seven years.
Exxon didn’t have to party alone; Chevron, Shell, and BP were announcing surpluses of only slightly less startling proportions.
“Combined, the four companies raked in $24.4 billion in quarter four of 2021, bringing their total profits for last year to over $75.5 billion. Chevron, Shell, BP, and Exxon used these bloated profits to shower billions onto their shareholders—including their wealthy executives whose salaries are heavily padded with stocks,” reported the watchdog group Accountability.US.
“In 2021, the four companies bought back over $6.6 billion in stocks while hiking up their dividends. And the oil giants are planning for an ‘even better’ 2022 for shareholders, with plans already in place to buyback over $22 billion in stock thanks to high oil prices.”
In fact, 2022 could be dramatically better for Exxon and the other major oil companies.
Price-Gouging Oil Companies Need to Pay a Windfall Tax
Prices at the pump are shooting up as oil companies turn massive profits. A windfall-profits tax could go a long way toward providing relief for working families.www.thenation.com
When gas prices soar most everything we purchase we experience a dramatic cost of living increase ...... does not stop at the pump.Even before Vladimir Putin’s invasion of Ukraine shocked energy markets and sent oil prices to over $100 a barrel, Exxon was banking obscene profits. On February 1, the Texas-based fossil fuel giant announced profits of almost $9 billion for the fourth quarter of 2021—its biggest take in seven years.
Exxon didn’t have to party alone; Chevron, Shell, and BP were announcing surpluses of only slightly less startling proportions.
“Combined, the four companies raked in $24.4 billion in quarter four of 2021, bringing their total profits for last year to over $75.5 billion. Chevron, Shell, BP, and Exxon used these bloated profits to shower billions onto their shareholders—including their wealthy executives whose salaries are heavily padded with stocks,” reported the watchdog group Accountability.US.
“In 2021, the four companies bought back over $6.6 billion in stocks while hiking up their dividends. And the oil giants are planning for an ‘even better’ 2022 for shareholders, with plans already in place to buyback over $22 billion in stock thanks to high oil prices.”
In fact, 2022 could be dramatically better for Exxon and the other major oil companies.
Price-Gouging Oil Companies Need to Pay a Windfall Tax
Prices at the pump are shooting up as oil companies turn massive profits. A windfall-profits tax could go a long way toward providing relief for working families.www.thenation.com
Tax dollar subsides are windfall profits for wealthy corporations ==I don't need to ask which party is supporting the bill for windfall profits tax for oil companies. I laughed out loud.
Inflation is an average.Not just oil companies. If any product's price went up 4-5 times the rate of inflation they need to be investigated.
So in coming years if like crashes and oil companies loose money, will we give them back the tax to restore a "fair" profit for the year?
Why bother then it will be a wash anyway?Yes. That is true for any corporation. Though it's not a cash grant, losses in one year are claimable from later taxes.
The only reason it's NOT a credit, is that the government is rightly wary of putting money into corporations which later go bankrupt.
You didn't answer. If they have a bad year, below a "fair profit" are you willing to subsidize them to give them a fair profit?Big oil is exploiting their customers daily by using the Invasion as an excuse.
You mean above and beyond their current annual subsidies well into the billions?You didn't answer. If they have a bad year, below a "fair profit" are you willing to subsidize them to give them a fair profit?
Yes a subsidy based upon fair profits.You mean above and beyond their current annual subsidies well into the billions?
Perhaps a consideration. But only after the government stops giving them tens of billions of dollars every year regardless of profit margins.Yes a subsidy based upon fair profits.
Which is why I said "investigate" and not "charge".Inflation is an average.
Some products need to inflate at a much higher rate due to inelasticity. If for example left wing liberal democrats import 12 million illegal aliens and another million legal immigrants that we don’t need, and refuse to build the wall and so your city has 500,000 new residents and only built 250,000 new apartments, your rent has to go up like 3 times and not just by half so the supply is properly rationed as increasing 800 dollar rent to 1200 won’t cause you to move away.
Even before Vladimir Putin’s invasion of Ukraine shocked energy markets and sent oil prices to over $100 a barrel, Exxon was banking obscene profits. On February 1, the Texas-based fossil fuel giant announced profits of almost $9 billion for the fourth quarter of 2021—its biggest take in seven years.
Exxon didn’t have to party alone; Chevron, Shell, and BP were announcing surpluses of only slightly less startling proportions.
“Combined, the four companies raked in $24.4 billion in quarter four of 2021, bringing their total profits for last year to over $75.5 billion. Chevron, Shell, BP, and Exxon used these bloated profits to shower billions onto their shareholders—including their wealthy executives whose salaries are heavily padded with stocks,” reported the watchdog group Accountability.US.
“In 2021, the four companies bought back over $6.6 billion in stocks while hiking up their dividends. And the oil giants are planning for an ‘even better’ 2022 for shareholders, with plans already in place to buyback over $22 billion in stock thanks to high oil prices.”
In fact, 2022 could be dramatically better for Exxon and the other major oil companies.
Price-Gouging Oil Companies Need to Pay a Windfall Tax
Prices at the pump are shooting up as oil companies turn massive profits. A windfall-profits tax could go a long way toward providing relief for working families.www.thenation.com
this poster simply wants to blame one politician (whom he hates) when oil companies can up their production whenever they want.Seems like a good time to open up all avenues of production in order to flood the market with oil.
Why is Biden functioning as the bitch of big oil to inflate the prices and their profits?
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