Oil prices . .

[bigmike]

That’s right oil & gas is not high percentage!!!
But what do I know ive only been in these west texs oilfields 35 yrs

[TheHammer]

A business turning a profit? What a bunch of a holes.

Lol right, what kind of crooks start a business to actively make money!! Crooks!!!

[miket]

That’s right oil & gas is not high percentage!!!
But what do I know ive only been in these west texs oilfields 35 yrs

People see "billions" and instantly get their hackles up, with no idea the insane amount of equipment, labor, technology, infrastructure etc it requires.

[Drycreek3189]

People see "billions" and instantly get their hackles up, with no idea the insane amount of equipment, labor, technology, infrastructure etc it requires.

You are right ! Fossil fuels are still what makes our world go ‘round. Solar and wind are just a fart in a whirlwind.

[SJP51]

All the renewables can do is replace a percentage of NEW power needs. Natural gas will continue to burned for at least the rest of my life time. If you don't own shares of energy stocks and/or funds you are going to miss out on nice returns.

[chopsknives]

Aw c'mon guys ol Al Gore is only getting paid 2 mill a month I had to laugh when he said the migrant surges were all climate change victims!?!?

[Bayouboy]

With all the govt restraints on oil and gas it is a miracle they even make a profit.

Most people don’t realize what it takes to produce or refine a barrel of oil.

[DedDuk]

"They made billions last quarter".
Funny, the well we drilled in the last quarter was about 135 days. Operating cost for my rig is just under 1 million a day. We ended up P&A the well. (plug and abandon) Its so easy the gulf is down to around 4-5 oil companies drilling out here.

[Leonhogboy]

XOM is doing well.

[dgilbert]

With all the govt restraints on oil and gas it is a miracle they even make a profit.

Most people don’t realize what it takes to produce or refine a barrel of oil.

But they manage to make billions and I can't afford a barrel.

[Big pig]

But they manage to make billions and I can't afford a barrel.

Billions? It’s a business. The cost of which is incredible. And govt restrictions /requirements are unending.
My company produced a lot of barrels per day and struggled to profit

[Roger]

Maybe the discussion should avoid loose terms like "made billions" and focus on actual profits rather than revenues. Takes the whole "invested x amount" discussions out. Probably too early for accurate final 2022 numbers, but just looking at 2021, all of the big four oil companies made all time record profits in the 20-30 billion range. All of them also chose to buy back stock and return money to investors rather than increase production to ease prices. Just business decisions. I'm not on one side or the other, but to try and claim "they invest billions", which they do, is kind of silly in the face of billions of dollars in record profits and limited production. I have no doubt smaller industry companies may struggle, especially with continued rising input costs, but the major market players do not struggle to make billions in profit, 2020 excepted.

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[RiverRat1]

Oil company margins were 8.3% in 2021. Compared to tech and pharmaceuticals at 23%.

They make billions because of hundreds of billions invested.

That’s right oil & gas is not high percentage!!!
But what do I know ive only been in these west texs oilfields 35 yrs

Don't bring facts into this tin foil hat wearing debate! Get your pitchfork...Oil man BAD!

[RiverRat1]

People see "billions" and instantly get their hackles up, with no idea the insane amount of equipment, labor, technology, infrastructure etc it requires.

Take government out of the equation and gas will be 1/2 the price. But lets blame Exxon LOL

And why don't people get bent out of shape with how much computers cost due to Microsoft monopoly? Nearly everything you buy that's computerized gives Bill crap tons of money... But crickets


Use a little logic people. Get the most mad at the highest profit margin companies, not the lowest.

[miket]

Maybe the discussion should avoid loose terms like "made billions" and focus on actual profits rather than revenues. Takes the whole "invested x amount" discussions out. Probably too early for accurate final 2022 numbers, but just looking at 2021, all of the big four oil companies made all time record profits in the 20-30 billion range. All of them also chose to buy back stock and return money to investors rather than increase production to ease prices. Just business decisions. I'm not on one side or the other, but to try and claim "they invest billions", which they do, is kind of silly in the face of billions of dollars in record profits and limited production. I have no doubt smaller industry companies may struggle, especially with continued rising input costs, but the major market players do not struggle to make billions in profit, 2020 excepted.

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But why? All business is based return on investment. You arent going to invest billions if you arent going to get billions in return. Sure a million is a lot to people like me, but its a terrible return if you invest a billion.

You dont lose money for a year if you dont expect to make it back later. You just shut the doors, go home and cry.

Whether you are pathetically small like me or a massive company employing 10s of thousands, its all about return on investment.