General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYou want some massive oil and gas profits returned to the American people? Buy shares!!!
So says Exxon's CEO who knows NOTHING about just trying to pay bills day to day.
There has been discussion in the U.S. about our industry returning some of our profits directly to the American people, Exxon Chief Executive Officer Darren Woods said in prepared remarks ahead of the companys earnings conference call. Thats exactly what were doing in the form of our quarterly dividend.
Exxon raised its quarterly payout to 91 cents per share from 88 cents, 1 cent more than the Bloomberg Consensus forecast. Exxons dividend payments over the last 12 months have overtaken Apple Inc.s to become the second-largest in the S&P 500 Index, behind Microsoft Corp, according to data compiled by Bloomberg.
Rewarding energy shareholders has done nothing to appease Biden, and in fact has fueled his argument against Big Oil. On Thursday, he once again attacked oil companies after Shell Plc issued bumper earnings, criticizing the UK company for increasing its dividend rather than cutting prices at the pump.
The president has repeatedly laid into oil companies at various points this year for not doing more to help consumers.
https://www.bloomberg.com/news/articles/2022-10-28/exxon-cites-dividend-in-response-to-biden-attack-on-oil-profits?sref=ZOgFhNqs
ck4829
(35,039 posts)slater71
(1,153 posts)As I type this oil is 87.73 a barrel. Gas, where I am in Pa, is 4.00 a gallon. When oil hit a high of 121.00 a barrel, gas was 5.05 a gallon. Oil is down 32.27 a barrel and gas only dropped only 1.05 a gallon. the oil companies and the gas stations are raping us period. Watch what gas does within days of the republicans taking over if they do. According to this website gas should be 3.03 a gallon. https://econbrowser.com/archives/2014/06/gasoline-price-calculator
Also, we need to stop shipping over 8 million gallons a day out of our country.
True Dough
(17,255 posts)I read somewhere that the oil and gas companies manipulate things on the refinery end of the process as well. So if the price of oil is relatively low, they create backlogs at refineries and cause the price of gasoline to rise that way. They have too many tricks up their sleeve. They need to be taxed much more on profits -- take some of that money back!
JustABozoOnThisBus
(23,325 posts)Emile
(22,506 posts)Kid Berwyn
(14,808 posts)Stops the price gauging. Builds the Treasury and the Commons.
BlueIdaho
(13,582 posts)Just like other first world countries have.