https://www.cnn.com/2022/07/29/energy/exxonmobil-chevron-earnings/index.html
Without clicking the link, can you guess what that number is?
$2,245.62 a second
Published by Adam Green
A 24 year Navy vet, cancer survivor, father, grandfather, assistant caregiver for my live-in mother-in-law. Enjoys golf, football (real and fantasy), being the best grandfather I can, supporting the endeavors of my children (both involved in the education of our younger generations) and tormenting my wife of 34 years. Also prefer bourbon over scotch, but will drink both, just not at the same time. Discovering craft beers and trying trying hard to get to a consistent golf swing. View all posts by Adam Green
Published
Tidewater News and Opinion Forum 
I don’t recall you boohooing when they were taking sustained losses not long ago. Oil and gas prices are driven by supply and demand. In addition to Ukraine and the pandemic, Biden energy policy created a future supply imbalance that drove up the price of gas from $2.50 to almost $4 in one year “before” Ukraine. Blame your boy.
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Forgot the link
https://www.google.com/amp/s/www.wcnc.com/amp/article/news/verify/large-oil-companies-verify-economy-gas-prices/275-9630b766-9374-43d3-bb81-df65fab0917d
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Their “losses”were just lower profits.
Mr. Roberts has made the point that supply and demand are not realistic ways of measuring economics. But I agree that is is about supply and demand.
Increases in refining would solve a lot of the cost issues and the oil companies will still make a metric butt-ton in profits.
And “my boy” as you referred to him, has approved MORE drilling on federal lands than “your boy” did in four years. Your blame is misplaced.
And blaming presidents, regardless of party, for something that they have NO control over, like the international market for oil, is misplaced. If Biden is to blame for almost $5/gallon pump prices, then you have to credit him for the price coming down to under $4. And continuing to recede.
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Interestingly enough, UAE, “petroleum central”, has high gas prices also $4.66/gallon. The rest of the world has similar or higher unless in states where heavy subsidies are in place, like Venezuela at 8 cents a gallon.
But it is Biden’s fault.
BTW, $3.86 at Walmart today.
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I’ll read these posts later. I just got back from Cobia fishing all day with my son-in-law and youngest grandson. Th 9 year old got a 50 pounder.
I’ll try to catch up tomorrow, I’m tired and I’m going to bed.
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Nice fish Doc. Grandson should be proud. And some damn good eats.
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Cobia are fighters. Must have been very exciting and a handful for a 9 year old. I use a large hook through the back of a live spot, let it swim under the CBBT, wait 3 seconds after the initial bite, set the hook and get ready for a ride.
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I don’t normally fish for them. I have a freezer full of crappie and bass. I went along with them because my grandson was so enthusiastic about it because of his dad’s stories and I didn’t want to miss the adventure.
Didn’t expect his first trip to yield 2 fish(a dink and the big one.
The only saltwater fish I actively pursue is flounder.
But it was great to be there for his triumph.
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Congrats to your grandson on catching the elusive “BIG ONE” many anglers only dream of.
And kudos to you for giving him the opportunity.
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$2,245.62 a second is chicken feed. The federal government spends almost 100 times that amount every second.
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Cite?
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The US government in 2021 spent $2.7 trillion more than it collected. That in itself is over $85k per second but not close to what it actually spent per second.
https://datalab.usaspending.gov/americas-finance-guide/#:~:text=%242.77%20trillion%20equates%20to%20%245.3,minute%20for%20an%20entire%20year.&text=A%20deficit%20occurs%20when%20money,spent%20more%20than%20it%20collected.
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Let’s compare responsibilities:
US Government ensures our national defense, safe roads, clean drinking water and air (when not disallowed by SCOTUS), Infrastructure (Constitutional duty), care for Veterans (Thank you), and many other things that some on this forum count on (SS, Medicare).
Oil companies provides a service (Product) that the consumers pay whatever they need to pay to ensure a quality of life that we are all accustomed to. Also, to provide profitable earnings for stockholders. Most of which sit in the c-suites of those companies. Plus the subsidized nature of their drilling and production, yet they still charge whatever they want.
The profits could have been less and STILL have been sustainable and profitable for the stockholders.
Your apples-to-kumquats comparison is out of place. How about how much profit did Amazon generate, per second during the same period? That would be a legitimate comparison.
Comparing our government to private companies is idiotic and unproductive. -IMO
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