Quote:In the first quarter, Shell's adjusted earnings rose to $9.1 billion from $3.2 billion in the same period last year. Net income rose to $7.3 billion from $5.8 billion in last year's first quarter.

Quote:BP posted its highest quarterly profit in over a decade – with the British energy company announcing on Tuesday that its underlying replacement cost profit rose to $6.2 billion in the first three months of this year, more than doubling the $2.6 billion from the same period last year.

Quote:At the end of April, Exxon Mobil reported $5.48 billion in profits during the first quarter of 2022 – also more than doubling its profits compared with the same period last year. Revenue for the Irving, Texas-based company was $90.5 billion, far exceeding the revenue of $59.15 billion during the same quarter in 2021.

(06-09-2022, 10:10 AM)dfrecore Wrote: But really, let's look at supply and demand.  Just a year ago, we were energy-independent, and an oil exporter.  We were producing enough oil in this country to provide everyone with it, inexpensively.  Prices were extremely low (it was $1.62 when we moved to SC in July 2020).  The new administration shut down the Keystone pipeline, and made it impossible for oil/gas companies to plan ahead and invest in continued production.  You don't want to spend billions on an infrastructure that someone can shut down on a whim.  So, gas prices immediately went up.  We now are back to being an oil/gas importer, because we aren't producing enough for our own citizens.  We've become hostages to OPEC and the Saudis and freaking Venezuela.

(06-09-2022, 10:55 AM)jsd Wrote: Throw facts up all you want, but people are settled in on their talking point and won't budge at this point.

(06-09-2022, 12:59 PM)Alpha Wrote: "Never let the facts get in the way of a good story."  Mark Twain

(06-09-2022, 10:10 AM)dfrecore Wrote: Shell, Exxon and BP don't unilaterally set gas prices, they area also set by international bodies like OPEC.

But really, let's look at supply and demand.  Just a year ago, we were energy-independent, and an oil exporter.  We were producing enough oil in this country to provide everyone with it, inexpensively.  Prices were extremely low (it was $1.62 when we moved to SC in July 2020).  The new administration shut down the Keystone pipeline, and made it impossible for oil/gas companies to plan ahead and invest in continued production.  You don't want to spend billions on an infrastructure that someone can shut down on a whim.  So, gas prices immediately went up.  We now are back to being an oil/gas importer, because we aren't producing enough for our own citizens.  We've become hostages to OPEC and the Saudis and freaking Venezuela.

This was entirely our doing.  Voting has consequences...