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Shell Posts Record Quarterly Profit of $11.5 Billion

CaughtInThe said:
You guys doing okay paying your bills?


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Trying - very hard with Biden in office, a Recession, double-digit inflation, etc...

You do know that Shell (USA) is just an American subsidiary of Royal Dutch Shell PLC, - with their HQ in The Hague, Netherlands, right?

i.e., they're not an American owned oil company.

So what does this BS have to do with anything at all besides telling us that another $11.3 Billion of profits will one day disappear under Lord Biden's asinine plan? Do you know how many jobs that the loss of $11.3 Billion will cost the world? Oh that's right... our lunatic leader will have those unemployed highly skilled oil and gas men assembling Chinese solar panels and windmills.

... unless they're working on Manchin's 300-mile pipeline that he was bribed with to get on board the "2022-Increase Inflation Bill", authored by the lunatic in the WH.

Not to worry though - in less than 100 days, the world will know that come January 2023, the Republicans will take Congress back and put a stop to Biden's record spending of trillions of dollars on left-wing radical garbage, Thank God.
 
Them taking a loss last year does not excuse them for profiteering now. This narrative is ridiculous. Its sad that Russia and USA had to start a war and sacrifice so many Slavs just to justify the inflation narrative to help these oil companies recoup their losses from the plandemic period. Oh well - whats a few Slavs I guess. You reckon they planned this out all casual in some room like the Nazis when they were estimating how many Slavs would die when they invaded Russia? Ha.
 
I know a local heavy equipment company (they clear forests so highways/ neighborhoods/ busines parks/ etc can be built).

The owner told me recently that he's being screwed by oil companies.
 
We didn't start a war.
 
thelastman said:
Them taking a loss last year does not excuse them for profiteering now. T
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Every company in every industry tries to make as much profit as they can.
 
CaughtInThe said:
I know a local heavy equipment company (they clear forests so highways/ neighborhoods/ busines parks/ etc can be built).

The owner told me recently that he's being screwed by oil companies.
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I hope this owner isn't trying to make record profits. I hope he's clearing these forests as a good deed!
 
KLATTU said:
I hope this owner isn't trying to make record profits. I hope he's clearing these forests as a good deed!
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He told me that he had to hugely increase his quotes because of the oil companies.
 
CaughtInThe said:
I know a local heavy equipment company (they clear forests so highways/ neighborhoods/ busines parks/ etc can be built).

The owner told me recently that he's being screwed by oil companies.
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In what manner? Just price?

My family owns a lot of gas stations (great-great---grandfather) purchased/started to build somewhere around/since 1910 - some even earlier. As gas demand rose, the number of stations exploded.

If you think 2¢ - 8¢ per gallon is a lot of profit, you're wrong. For the stations directly under my control, that is the "profit" added that took effect this morning at more than 250 locations. Gas stations today make their money on convenience stores at the stations. I've signed agreements with McDonald's, Burger King, etc... to attract even more business.
 
jcgriff2 said:
In what manner? Just price?
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Have you ever had to put fuel in gigantic pieces of equipment,

This guy considers himself a redneck and is proud of it. When HE blamed oil companies I knew things had changed.
 
KLATTU said:
LAFFFFF . Yeah that's usually how it works.
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It's exactly how it works.

And in his case he was confronted by massively higher fuel costs so he had to jack up his quotes massively.



As, of course, companies like Shell make record profits.
 
'Lost' money and how it's measured. When we speak of lost money what exactly does that mean? Does it mean the company actually lost money? I think it means if they made say fifty billion in 2020 and in 2021 they made forty nine billion but did they actually 'lose' money meaning they did not make enough profit to cover their operating costs or they just didn't make as much profit as the previous year.
 
bongsaway said:
You know it's all biden's fault that those capitalistic companies are doing so well. Who doesn't love our 'free markets' system?
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Like most Democrats, he most certainly does not love our free market system, which is why is for taking their 'excess' profits and why accuses companies of price gouging when he knows damn well they are doing no such things.Like most Democrats, he wants the government to determine how much workers make , how much CEo's make, how much profit companies should make, and how much they should charge.
 
CaughtInThe said:
It's exactly how it works.

And in his case he was confronted by massively higher fuel costs so he had to jack up his quotes massively.



As, of course, companies like Shell make record profits.
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Yep. The facts of life->conservative
 
The Oil and Gas Industry is indeed making profits as inflation increases, but so are most corporations in general. Food companies and other consumer staple companies are also increasing profits. See below from the Federal Reserve Bank of New York. I couldn't copy the graph, but you can see it on the link. In the last paragraph below they basically say that the data indicates that all companies are earning higher profits and when the Oil and Gas Industry is removed from the data, the slope of the curve remains the same. We just notice the increase in gas prices more than we do the increase in Cheerios.

When inflation is high, companies may raise prices to keep up. However, market watchers and journalists have wondered if corporations have taken advantage of high inflation to increase corporate profits. We look at this question through the lens of public companies, finding that in general, increased prices in an industry are often associated with increasing corporate profits. However the current relationship between inflation and profit growth is not unusual in the historical context.

The chart below plots the change in gross margin and inflation for the first quarter of 2022 compared to the first quarter of 2021. The slope is 0.24, suggesting that on average for every one percent increase in prices, corporate gross margins increased by 24 basis points.

Some of the industries with the greatest changes in profit margins include oil and gas, and industries such as air transportation which are heavily affected by COVID-related changes in demand. To assuage concerns that these industries are distorting the observed pattern, we drop them from the graph and find that the upward slope remains. It appears that industries with higher inflation are indeed earning higher profits.

https://libertystreeteconomics.newy...te-profits-increase-when-inflation-increases/
 
KLATTU said:
Yep. The facts of life->conservative
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All the oil companies (even middle eastern) are really doing is stealing money from people like you (they saw an opportunity to make record profits and jumped on it with both feet).

It's kind of funny.
 
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Excess profits? Never heard of such a creature. All you post says to me is you don't mind being gouged and also you are doing your best to ensure the top ten percent stay the top ten percent.
 
CaughtInThe said:
All the oil companies (engen middle eastern) are really doing is stealing money from people like you (they saw an opportunity to make record profits and jumped on it with both feet).

It's kind of funny.
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I guess those folks don't realize they are basically saying, ok, I'm bent over, give me more.
 
bongsaway said:
You know it's all biden's fault that those capitalistic companies are doing so well. Who doesn't love our 'free markets' system?
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Hey, while average Republicans struggle to pay their bills (rent/ mortgage/ electricity/ gas/ medical/ kids/ etc) oil company execs can upgrade their jets.

That's something.
 
bongsaway said:
Excess profits? Never heard of such a creature. All you post says to me is you don't mind being gouged and also you are doing your best to ensure the top ten percent stay the top ten percent.
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My guess is the people who can't afford to be screwed fight the hardest to be screwed.

And that's some really weird brain activity.
 
HikerGuy83 said:
Those facts are never going to make it into the narrative of a poster who really only cares about image and cares nothing about context.
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Average profits for them are $1.7 billion net.
 
CaughtInThe said:
Hey, while average Republicans struggle to pay their bills (rent/ mortgage/ electricity/ gas/ medical/ kids/ etc) oil company execs can upgrade their jets.

That's something.
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Or Buy back their own stocks to make even more money.
 
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