Our Big Oil Companies now making a fortune …on us

[bgreene]

FACTS
1.Our big oil companies have about 9,000 oil leases open and available to use - to pull more oil on US grounds….that they are NOT using.
2. Our big oil companies STOCKS are WAY UP now under Biden vs Trump and the big shareholders are LOVING IT.
3. Our big oil companies spent over $60,000,000 ….that’s 60 million dollars lobbying for Republicans in Washington while a tiny fraction towards Democratic plans.

Some say …..Big Oil runs our nation. Well, big oil stocks such as EXXON-MOBIL have doubled in the last year, while they make HUGE PROFITS with oil above $100 per barrel.
At our cost…..as we buy their gasoline.

Something to think about….

[bgreene]

So……the Big Oil Companies therefore “ can’t lose “

The average joe blames Biden.
Big oil wins.

The price of oil stays high.
Big oil wins.

Republicans win back political positions.
Big oil wins.

Drill baby drill ? Well……not so fast and not too much .
Because big oil likes higher prices .

But Big Oil LOVES to hear others all get the blame.
And big oil wins .

[steplift20]

This is all Bidens doing, everything.and Biden is in big oils pocket .

[bgreene]

Originally Posted by steplift20

This is all Bidens doing, everything.and Biden is in big oils pocket .

You tell em’ Steppie ! Hahah
Big oil wins no matter what !

[Destroyer]

Well, that's one of those misleading "facts" that the Dems are so fond of posting.
FACT yes, there are slightly over 6000 oil leases on Federal land that are not being drilled of pumped.
FACT a lot of those holes are dry.
FACT The cost is astronomical to drill, even if you get a permit to do so.
FACT A lease is NOT a permit. If you are lucky enough to actually strike oil getting a permit to actually pump the oil is quite another matter. There are years of environmental, federal and local barriers. Then you also have the costs of permits to install pipelines (different from pumping the oil///more environmental studies, etc.).

I could go on but you get the idea. They (Biden and the Dems) are not lying when they say that there are 6000 leases open, they just don't tell the rest of the story.

They are also trying to say that the high gas prices are Putins fault when anyone with half a brain knows that they started rising the first week that Biden took office. Yes, the Ukraine invasion has pushed oil prices up almost a quarter more than what they were, but that's still $.75 cents of every dollar of increase is squarely on Biden's back... NOT Putins.

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[bgreene]

Big Oil Corporations LOVE high prices and are making HUGE profits of us now.

It’s been said that Big Oil runs America…….easy to understand why .

[Destroyer]

Originally Posted by bgreene

Big Oil Corporations LOVE high prices and are making HUGE profits of us now.

It’s been said that Big Oil runs America…….easy to understand why .

Actually, it's not so much Big Oil that's making the profits so much as it is the speculators on Wall Street. Not many people know it but the oil that's in a tanker may change ownership several times before it reaches our ports. That's because speculators might buy it at (this is just an example) $100 a barrel for 50,000 barrels and then sell it to someone else for $101 a barrel. They just made a cool profit of $50,000. Now the person that bought it for 101 sells it for 102. They also make a 50,000 profit. All of this is happening while the ship is at sea. By the time it reaches port it's cargo may have transferred hands several times, each time adding to the price. So yes, Big oil is making a profit for sure, but they are not the only ones and it's doubtful they are making the lions share. Wall St. speculators are.

.

[bgreene]

Originally Posted by Destroyer

Actually, it's not so much Big Oil that's making the profits so much as it is the speculators on Wall Street. Not many people know it but the oil that's in a tanker may change ownership several times before it reaches our ports. That's because speculators might buy it at (this is just an example) $100 a barrel for 50,000 barrels and then sell it to someone else for $101 a barrel. They just made a cool profit of $50,000. Now the person that bought it for 101 sells it for 102. They also make a 50,000 profit. All of this is happening while the ship is at sea. By the time it reaches port it's cargo may have transferred hands several times, each time adding to the price. So yes, Big oil is making a profit for sure, but they are not the only ones and it's doubtful they are making the lions share. Wall St. speculators are.

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Well destroyer you’re WRONG AGAIN .
Our biggest US Oil Companies ARE making a fortune ON US and they LOVE high prices !
Exxon-Mobil alone just reported record profits off us ….$6-8 billion last quarter and will make MUCH MORE this quarter !!!

https://www.reuters.com/business/ene...es-2022-02-01/

[Pipe_Dream]

How much profit should oil companies make?

[bgreene]

Originally Posted by Pipe_Dream

How much profit should oil companies make?

Gee wiz that’s a goofy reply .

FACT and POINT of this thread ….Big Oil runs America and Big Oil loves these high prices because they’re making BILLIONS more on us !!!