Gas prices

[Gunbuffer]

As with all things, market rate is always determined by "what are people willing to pay for it".

Same as how we're paying a crap ton more for gas in general while the oil companies are raking in record profits.

“Record profits” mean nothing that’s just a socialist key word. Don’t be a sheep.
For example
I get a 2% raise every year.
Every year I have a “personal best record income”
Yay for me

 

[Gunbuffer]

Here’s a great hack. I save .25 a gallon by paying for gas using the Conoco app.

 

[HiredHand]

Years ago I was staying on Oahu and the family friend that I was staying with had a Shell credit card. He let me buy gas using the card because you got a discount at the pump and some percentage back on purchases. It was a significant amount of money that you saved by using Shell’s card.

 

[Rez Exelon]

“Record profits” mean nothing that’s just a socialist key word. Don’t be a sheep.
For example
I get a 2% raise every year.
Every year I have a “personal best record income”
Yay for me

Uh huh.... Comparing year over year (data from These Top 5 Oil Companies Just Raked In $35 Billion While Americans Pay More at the Pump) It seems like your example would work better if you didn't get a raise for a year and then doubled your salary. Obviously this is looking specifically at Q1 year over year.

• Shell’s profits were 180 percent higher than in the first quarter of 2021.
• Shell made $19.3 billion in total profits in 2021.
• Shell bought back $8.5 billion in stocks for wealthy shareholders.
• Shell cut 5,000 jobs from its workforce in 2021.
• Shell’s CEO has not been shy about admitting that Russia’s war on Ukraine helped the company’s profits, saying on a recent shareholder call that “well, you know, can I also say that the performance we are seeing this quarter, of course, has been helped by the macro, and the macro has been impacted by the war in Ukraine.”

• ExxonMobil’s profits were 220 percent higher than in the first quarter of 2021.
• ExxonMobil made $23 billion in total profits in 2021.
• ExxonMobil pledged to buy back $30 billion in stocks for wealthy shareholders through 2023.
• ExxonMobil cut 9,000 jobs from its workforce in 2021 to “cut costs.”
• Despite being one of the most profitable corporations in the United States, ExxonMobil paid an effective federal income tax rate of just more than 2 percent in 2021, and that is not for a lack of funds. ExxonMobil’s Chief Financial Officer Kathy Mikells underscored just how much the company expected to profit in the first quarter of 2022 and how that would benefit shareholders, saying in early March that “we expect to generate over $100 billion in excess cash flow beyond meeting our capital program and current dividend, and so I would say we have a very robust forward plan and we expect to have sustained excess cash flow and increasing shareholder distributions.”

• Chevron’s profits were 280 percent higher than in the first quarter of 2021.
• Chevron made $15.6 billion in total profits in 2021.
• Chevron plans to buy back $10 billion in stocks for wealthy shareholders by the end of 2022.
• Chevron cut its workforce by 5,000 jobs in 2021.
• Despite being one of the most profitable corporations in the United States, Chevron paid an effective federal income tax rate of less than 2 percent in 2021. Moreover, Chevron’s CEO has been upfront about the profits they are raking in, saying amidst rising gas prices in January that “the last two quarters have been the best two quarters the company has ever seen.”

• BP’s profits were 140 percent higher than in the first quarter of 2021.
• BP made $12.8 billion in total profits in 2021.
• BP expanded its stock buyback plan to $2.5 billion for wealthy shareholders in 2022.
• BP cut its workforce by 2,000 jobs in 2021.
• BP executives attributed their record profits to “exceptional oil and gas trading” conditions—conditions that included Russia’s invasion of Ukraine and Americans suffering record-high gas prices.

• ConocoPhillips’ profits were 380 percent higher than in the first quarter of 2021.
• ConocoPhillips made $8 billion in total profits in 2021.
• ConocoPhillips plans to buy back $10 billion in stocks for wealthy shareholders in 2022.
• ConocoPhillips’ workforce numbers stayed essentially flat in 2021.
• ConocoPhillips’ has tripled its lobbying expenditures to lock in oil and gas development for decades to come at its proposed Willow project in the Western Arctic. The proposed project threatens to erase the climate benefits of renewables on public lands and waters and would require the installation of artificial “chillers” to refreeze the Arctic’s melting permafrost in order to build the infrastructure needed to drill for oil. The company has also been under fire for a recent gas leak that “led to the temporary removal of 300 personnel [and] alarmed residents in the nearby village of Nuiqsut.”

 

[mike miller]

Gas at OnCue Chandler is 4.8999 and at Williams in Stroud is 4.259. Chandler says all gas and Stroud ethanol but 60 cents difference. come on

 

[SlugSlinger]

These oil companies had larger net losses in 2020 than net income in 2021. What were the Q1 2021 and Q1 2020 profits?

It's funny the libs point out profits but not the offsetting losses. There is something called a business cycle.

Venezuela was the wealthiest country in South America until socialist came in to make everything equitable. Now they are eating rats and roaches. Is that what libs want? This is a real question!

 

[SlugSlinger]

Uh huh.... Comparing year over year (data from These Top 5 Oil Companies Just Raked In $35 Billion While Americans Pay More at the Pump) It seems like your example would work better if you didn't get a raise for a year and then doubled your salary. Obviously this is looking specifically at Q1 year over year.

• Shell’s profits were 180 percent higher than in the first quarter of 2021.
• Shell made $19.3 billion in total profits in 2021.

I don't know where these numbers are coming from, because they are not from the audited financial statements.

The numbers below are from the financial reports for Shell and I added the two columns to the right showing the change. This is public information available on Shell's website.

The report compares Q1 2022 to Q1 2021. There is not a 180% increase in profits in Q1 2022 as compared to Q1 2021. There is a 27% increase in profit but the profit margin decreased from 10% to 9%.

Revenue increased 41% and expenses increased 42%.

Also notice the 2020 loss of (21.7)B.

 

[Broncos]

Price depends on load price and when delivered The freshest in the ground reflects the newest price

 

[delta6]

Go ahead and explain the meaning of profit margin........ It alludes a lot of well meaning folks. Had to explain it to my son several years ago.

Are we talking about operating, gross or net??

 

[Gunbuffer]

Uh huh.... Comparing year over year (data from These Top 5 Oil Companies Just Raked In $35 Billion While Americans Pay More at the Pump) It seems like your example would work better if you didn't get a raise for a year and then doubled your salary. Obviously this is looking specifically at Q1 year over year.

• Shell’s profits were 180 percent higher than in the first quarter of 2021.
• Shell made $19.3 billion in total profits in 2021.
• Shell bought back $8.5 billion in stocks for wealthy shareholders.
• Shell cut 5,000 jobs from its workforce in 2021.
• Shell’s CEO has not been shy about admitting that Russia’s war on Ukraine helped the company’s profits, saying on a recent shareholder call that “well, you know, can I also say that the performance we are seeing this quarter, of course, has been helped by the macro, and the macro has been impacted by the war in Ukraine.”

• ExxonMobil’s profits were 220 percent higher than in the first quarter of 2021.
• ExxonMobil made $23 billion in total profits in 2021.
• ExxonMobil pledged to buy back $30 billion in stocks for wealthy shareholders through 2023.
• ExxonMobil cut 9,000 jobs from its workforce in 2021 to “cut costs.”
• Despite being one of the most profitable corporations in the United States, ExxonMobil paid an effective federal income tax rate of just more than 2 percent in 2021, and that is not for a lack of funds. ExxonMobil’s Chief Financial Officer Kathy Mikells underscored just how much the company expected to profit in the first quarter of 2022 and how that would benefit shareholders, saying in early March that “we expect to generate over $100 billion in excess cash flow beyond meeting our capital program and current dividend, and so I would say we have a very robust forward plan and we expect to have sustained excess cash flow and increasing shareholder distributions.”

• Chevron’s profits were 280 percent higher than in the first quarter of 2021.
• Chevron made $15.6 billion in total profits in 2021.
• Chevron plans to buy back $10 billion in stocks for wealthy shareholders by the end of 2022.
• Chevron cut its workforce by 5,000 jobs in 2021.
• Despite being one of the most profitable corporations in the United States, Chevron paid an effective federal income tax rate of less than 2 percent in 2021. Moreover, Chevron’s CEO has been upfront about the profits they are raking in, saying amidst rising gas prices in January that “the last two quarters have been the best two quarters the company has ever seen.”

• BP’s profits were 140 percent higher than in the first quarter of 2021.
• BP made $12.8 billion in total profits in 2021.
• BP expanded its stock buyback plan to $2.5 billion for wealthy shareholders in 2022.
• BP cut its workforce by 2,000 jobs in 2021.
• BP executives attributed their record profits to “exceptional oil and gas trading” conditions—conditions that included Russia’s invasion of Ukraine and Americans suffering record-high gas prices.

• ConocoPhillips’ profits were 380 percent higher than in the first quarter of 2021.
• ConocoPhillips made $8 billion in total profits in 2021.
• ConocoPhillips plans to buy back $10 billion in stocks for wealthy shareholders in 2022.
• ConocoPhillips’ workforce numbers stayed essentially flat in 2021.
• ConocoPhillips’ has tripled its lobbying expenditures to lock in oil and gas development for decades to come at its proposed Willow project in the Western Arctic. The proposed project threatens to erase the climate benefits of renewables on public lands and waters and would require the installation of artificial “chillers” to refreeze the Arctic’s melting permafrost in order to build the infrastructure needed to drill for oil. The company has also been under fire for a recent gas leak that “led to the temporary removal of 300 personnel [and] alarmed residents in the nearby village of Nuiqsut.”

And how much did they lose
In previous years. A lot.
And you act like making money is a bad thing