AirKevin wrote:With the charger, you just hook it up to electricity and forget about it. Where do they think the fuel is going to come from.
They don't think, they just want to see the chargers gone.
Moderators: richierich, ua900, PanAm_DC10, hOMSaR
AirKevin wrote:With the charger, you just hook it up to electricity and forget about it. Where do they think the fuel is going to come from.
Shell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit.
The company also announced a $6 billion share buyback programme for the current quarter but did not raise its dividend of 25 cents per share. It said shareholder returns would remain "in excess of 30% of cash flow from operating activities".
Refining profit margins tripled in the quarter to $28 a barrel.
casinterest wrote:In these trying times of high gasoline prices, let's give a hand to Shell for barely making an 11.5 billion dollar profit.
https://finance.yahoo.com/news/shell-re ... 17220.htmlShell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit.
The company also announced a $6 billion share buyback programme for the current quarter but did not raise its dividend of 25 cents per share. It said shareholder returns would remain "in excess of 30% of cash flow from operating activities".
Seems those gasoline prices are awfully inflated still over the oil prices.Refining profit margins tripled in the quarter to $28 a barrel.
LittleFokker wrote:casinterest wrote:In these trying times of high gasoline prices, let's give a hand to Shell for barely making an 11.5 billion dollar profit.
https://finance.yahoo.com/news/shell-re ... 17220.htmlShell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit.
The company also announced a $6 billion share buyback programme for the current quarter but did not raise its dividend of 25 cents per share. It said shareholder returns would remain "in excess of 30% of cash flow from operating activities".
Seems those gasoline prices are awfully inflated still over the oil prices.Refining profit margins tripled in the quarter to $28 a barrel.
Anytime I read about a corporation attempting another stock buyback, I want to punch the CEO in the nuts repeatedly and/or slit their throat for the harm buybacks have on the economy.
ACDC8 wrote:Same thing with the gas companies here. Their profits have exploded from the gas station itself all the way up to the oil companies. But they're in good company, grocery chains here have doubled their price increases compared to their higher operating costs over the last few months and their stocks are drowning in record profits while households literally go hungry.
So basically, we're paying artificially inflated prices on top of artificially inflated prices all in the name of profit.
But, but, but its all Trudeau's fault
LittleFokker wrote:casinterest wrote:In these trying times of high gasoline prices, let's give a hand to Shell for barely making an 11.5 billion dollar profit.
https://finance.yahoo.com/news/shell-re ... 17220.htmlShell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit.
The company also announced a $6 billion share buyback programme for the current quarter but did not raise its dividend of 25 cents per share. It said shareholder returns would remain "in excess of 30% of cash flow from operating activities".
Seems those gasoline prices are awfully inflated still over the oil prices.Refining profit margins tripled in the quarter to $28 a barrel.
Anytime I read about a corporation attempting another stock buyback, I want to punch the CEO in the nuts repeatedly and/or slit their throat for the harm buybacks have on the economy.
MohawkWeekend wrote:I agree - a one time special dividend would be better than buybacks.
Because these times aren't going to last. Wasn't there a thread on this site talking about how trillions of dollars in fossil fuel investments will need to be written off next decade?
seb146 wrote:Exxon, Chevron, and Shell all record record profits. Again
https://www.nytimes.com/2022/07/29/busi ... rofit.html
https://www.theguardian.com/business/20 ... on-chevron
https://www.bloomberg.com/news/articles ... -fuel-cost
Aesma wrote:GalaxyFlyer wrote:Why should people be subsidized in their choice of vehicle? Why is governments deciding who gets “free” transportation and others don’t. Small government means government doesn’t take from some citizens to give to others.
Because ICE cars don't pay for the pollution they emit. So the next best thing is to incentivise not using ICE cars. If you would prefer the pollution was taxed, I'm all for it.
LittleFokker wrote:casinterest wrote:In these trying times of high gasoline prices, let's give a hand to Shell for barely making an 11.5 billion dollar profit.
https://finance.yahoo.com/news/shell-re ... 17220.htmlShell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit.
The company also announced a $6 billion share buyback programme for the current quarter but did not raise its dividend of 25 cents per share. It said shareholder returns would remain "in excess of 30% of cash flow from operating activities".
Seems those gasoline prices are awfully inflated still over the oil prices.Refining profit margins tripled in the quarter to $28 a barrel.
Anytime I read about a corporation attempting another stock buyback, I want to punch the CEO in the nuts repeatedly and/or slit their throat for the harm buybacks have on the economy.
GalaxyFlyer wrote:LittleFokker wrote:casinterest wrote:In these trying times of high gasoline prices, let's give a hand to Shell for barely making an 11.5 billion dollar profit.
https://finance.yahoo.com/news/shell-re ... 17220.html
Seems those gasoline prices are awfully inflated still over the oil prices.
Anytime I read about a corporation attempting another stock buyback, I want to punch the CEO in the nuts repeatedly and/or slit their throat for the harm buybacks have on the economy.
Yes, because putting profits back in the business owners’ pockets is so harmful. IT. IS. THEY. BOUGHT. STOCK.
SEAorPWM wrote:GalaxyFlyer wrote:LittleFokker wrote:
Anytime I read about a corporation attempting another stock buyback, I want to punch the CEO in the nuts repeatedly and/or slit their throat for the harm buybacks have on the economy.
Yes, because putting profits back in the business owners’ pockets is so harmful. IT. IS. THEY. BOUGHT. STOCK.
Then don't complain about high gas prices or inflation.
GalaxyFlyer wrote:SEAorPWM wrote:GalaxyFlyer wrote:
Yes, because putting profits back in the business owners’ pockets is so harmful. IT. IS. THEY. BOUGHT. STOCK.
Then don't complain about high gas prices or inflation.
I’m not complaining, the prices are the result of market forces and government actions restricting supply. Them’s the breaks.
GalaxyFlyer wrote:The historic price means nothing to today’s price, there’s no iron law relating the two. Different crack spreads equals different prices. Keep talking down oil industry as a having no future you get no investment in expensive things like exploration, pipelines, refineries—all require 50 year time horizons.
Very different contexts between Trump and Biden begging Saudis.
seb146 wrote:As usual, the price per barrel can sink like a rock but the price at the pump will remain and oil companies will laugh all the way to the bank
Aesma wrote:It's not about sucking up. It's strategy, if they shun Russia, they know they're next, it's not like they're great democracies.
In practice, they're next anyway, if we manage to replace oil by something else.
Aesma wrote:Buybacks are much less common here in France, although apparently oil major TotalEnergies will do one. I don't have a firm opinion about them, but clearly doing buybacks while having CEO's income tied to share performance is problematic.
Classa64 wrote:Well here I am 5 months after posting and we are currently at $1.89L in my area. Over five months it was as high as $2.23 and a low of $1.79 just a few weeks ago. My area is notoriously high all the time then all other surrounding areas. I gave up on the why.
Classa64 wrote:Well here I am 5 months after posting and we are currently at $1.89L in my area. Over five months it was as high as $2.23 and a low of $1.79 just a few weeks ago. My area is notoriously high all the time then all other surrounding areas. I gave up on the why.
c933103 wrote:Why is ~US$2 per L of gasoline considered expensive in the US?
c933103 wrote:Classa64 wrote:Well here I am 5 months after posting and we are currently at $1.89L in my area. Over five months it was as high as $2.23 and a low of $1.79 just a few weeks ago. My area is notoriously high all the time then all other surrounding areas. I gave up on the why.
Why is ~US$2 per L of gasoline considered expensive in the US?
ACDC8 wrote:Took prices a good month to trickle down from 196.9 to 182.9 and tonight, it jumped back up to 196.9 in one snap.
I'm guessing that the oil companies are in position of all Infinity Stones?
Wonder what the excuse is this time? "Maintenance"? "Hurricane season"? "Trudeau"?
MohawkWeekend wrote:This came out of nowhere -
"Energy Dept. warns refiners it may take ‘extraordinary measures’ on fuel exports". https://www.washingtonpost.com/business ... story.html
With the large difference in prices between Europe and the US, fuel refined in the States is being exported in large amounts to Europe. If those exports are curtailed, prices would remain low here but skyrocket in Europe. Also the release of 1 million barrels a day of crude oil from the Strategic Petroleum Reserve is ending October 1st. (It appears we've drained half of it). Both of these events will cause prices to rise here and overseas.,
And on Weather.com tonight, they are tracking 2 disturbances for possible development into storms.
MohawkWeekend wrote:Buffet is killing it with Occidental Petroleum and Chevron stock
Crude oil production in the Permian Basin is set to hit a record high next month, adding 66,000 bpd from September to 5.413 million bpd, the Energy Information Administration said in its latest Drilling Productivity Report.
Total oil production in the Lower 48 is seen adding 132,000 bpd from this month to next, to reach a total of 9.115 million bpd, the EIA also noted in its report. All plays will see additions in output in October and none will see a decline, with only Haynesville’s output rate remaining unchanged.
The latest factual data from the EIA shows U.S. total oil production rose to the highest since April 2020 in June, to 11.8 million bpd. That’s still below the record-high rate of production U.S. drillers had reached right before the pandemic struck but a significant recovery from the pandemic collapse in production.
casinterest wrote:https://oilprice.com/Energy/Crude-Oil/Permian-Oil-Production-Is-Set-To-Hit-A-Record-High.html
Here comes the production increases, right as the demand falls .Crude oil production in the Permian Basin is set to hit a record high next month, adding 66,000 bpd from September to 5.413 million bpd, the Energy Information Administration said in its latest Drilling Productivity Report.
Total oil production in the Lower 48 is seen adding 132,000 bpd from this month to next, to reach a total of 9.115 million bpd, the EIA also noted in its report. All plays will see additions in output in October and none will see a decline, with only Haynesville’s output rate remaining unchanged.
The latest factual data from the EIA shows U.S. total oil production rose to the highest since April 2020 in June, to 11.8 million bpd. That’s still below the record-high rate of production U.S. drillers had reached right before the pandemic struck but a significant recovery from the pandemic collapse in production.
MohawkWeekend wrote:Just remember the Administration is releasing 1 million barrels a day of strategic reserve oil until the end of this month. This bought the oil industry time to ramp up production. See what happens when we work together?
However looking at the numbers , industry won't quite match the 1 mm bbl/day barrels from the SPR. Plus I believe some refiners are required to replace the barrels they borrowed from the SPR so demand could go up just as supply is reduced.
GalaxyFlyer wrote:
SEAorPWM wrote:GalaxyFlyer wrote:
But... OPEC said its mission is to balance the market
casinterest wrote:SEAorPWM wrote:GalaxyFlyer wrote:
But... OPEC said its mission is to balance the market
It is a mission. To drive profits. But it will also help drive innovation, and drilling elsewhere.
SEAorPWM wrote:casinterest wrote:SEAorPWM wrote:
But... OPEC said its mission is to balance the market
It is a mission. To drive profits. But it will also help drive innovation, and drilling elsewhere.
Yeah, if Wall Street and politics allow it.
The US's message regarding democracy vs. autocracy seems to always take a back seat when your pickup-driving beer gut crowd starts complaining about gas prices.
One side wants to subsidize inefficient driving habits, while the other only blames environmental regulations fir lack of domestic drilling. Meanwhile, we continue to beg a cartel of autocratic dictatorships for energy supplies, while our European NATO members face a cold winter next year.
Isn't the definition of insanity doing the same thing over and over and expecting a different result?