Oil company profits way up.....BP up 51% for 1st qtr

Hope this doesn't turn political. I'm just talking about the economics of this BS. Interesting that we pay double and they double their profits. Something rotten here.....

 

What is their profit margin? Is it a larger percentage than prior?

 

Diesel demand is way up so they raise prices because they know it will sell. When demand is low they lower prices to encourage sales. They have us over a barrel (no pun) and they are milking it for all they can. Crude price is high but not that high to cause such prices.

 

None of us like the current cost of fuel and yes oil company profits are up. However what were their profits over the last few years. How much was profit driven by the 8% inflation rate. There are so many pieces to it and I could go on, but....

 

Exxon made a first quarter profit of 5.5 billion dollars. How many oil companies are there in the world?

 

It just seems that maybe they could cut us a break since they are raking it in. But the greed is like a virus....plus the execs need larger yachts.

 

Margins are very high now, a lot higher than when I worked in the business. Last time I checked my Marathon stock was up 44% YTD. Too bad everything else is down. But high margins are only one piece.

 

Of course they made a profit.... In numbers only,,,,,,,, the value of the dollar is down... Think about it your house didn't go up in value you dollar lost value...there for it takes more paper to buy more of the same thing than it did 50 years ago.

 

But inflation isn't 50%....yet. Fuel prices will help get up there. Like throwing gas on a fire....

 

I just figured out why they aren't drilling more wells. With gas and diesel so high, they can't afford to operate their drilling equipment.

 

Actually, ExxonMobil made WAAAAAAAAY more than you might think.
Profits were at $5.48 Billion, but that is after deducting $3.8 Billion in losses for the whole Russia thing.
So $9.3 Billion in profit for the rest of their operations.

Note:
Oil prices -- fair to middling.
Gas prices -- sky high

 

This is the dark side of Capitalism. The CEO's loyalties are to the stock holder, NOT to the consumer or the nation. In the financial world they are being good stewards of their companies. The bigger the profit they make, the better job they are doing. Consequences of running a business this way are irrelevant.

 

Im more interested in percentages than $ figures. As costs go up so does the dollar figure and that doesn't really seem to tell the whole story.

 

Interesting chart:

 

I think they fear their future is grim, so they’re raking in as much as they can right now. The car companies are, too-selling as many $100k SUVs, $80k pickups and all the supercharged and 392 Hemis they can build and banking that profit in case the electric future hurts them. Big oil also knows most of the public will blame DC and vote them out. The car conpanies are hoping that, if they try ‘real hard’ but fail at electric, the government will bail them out (again).
Patrick

 

It's a good idea to have fossil fuel companies in your pension/stock/municipal funds portfolio. It's also entirely possible that you, sir, have been profiting from same. Might want to review your mutual funds. If you find those evil companies therein then perhaps you should divest.

 

I don’t smoke but I like my Altria and Philip Morris International stock…
Patrick

 

My largest stock investment is Exxon-Mobil. I'm smiling. Having said that, I carefully think about where I'm driving, and combine trips. I did a five-stop trip today that saved me many miles of driving, if I had done the trips separately.
Do bear in mind that the price per barrel of crude is double what it was one year ago. My thought is that gasoline will never be anywhere as cheap as it was a year ago. Get used to it.

 

Gross profits are many times more than net net profit.

I'd also be curious what their expenses are to maintain the massive machine that provides gas/oil to consumers on the street. That isn't cheap. I think most folks would be surprised when they saw what the actual Gross/Net ratio is.

I used to ask folks what they thought my overhead was at my shop, and 99 percent of them evidently had no idea whatsoever of simple economics or any idea whatsoever what the costs are that are involved. If yer net netting 10%, yer doing good.

 

Nobody is in business to lose money.