Shell reports its highest ever annual profit

[Clizby Wampuscat]

How Reps have been hounding Biden as if it's his fault the oil companies haven't been drilling. In reality the permits are there they are just going unused. And as making the rich richer isn't drilling or helping gas prices then Reps can shut up about it (including blaming Biden for gas prices).

90% of the oil drilled in the US is on private land. When a permit is released it can be 3-5 years before a company can get the oil out of the ground. There is no guarantee there is enough oil on the land to make it profitable, so they must survey it etc. So when Biden says they could be drilling today he is lying.

They are taking a risk and they should get rewarded for it. If oil companies did not make a profit, we would all be in big trouble. Also, why wouldn't they try to make as much as possible when the president has stated he wants to put them out of business.

 

[Shadow Wolf]

So when Biden says they could be drilling today he is lying.

The permits are there. It's not just Biden saying this.

They are taking a risk and they should get rewarded for it. If oil companies did not make a profit, we would all be in big trouble. Also, why wouldn't they try to make as much as possible when the president has stated he wants to put them out of business.

The oil companies make massive profits. They didn't need these buybacks (that was illegal until about 40 years ago). And the execs aren't risking much at all. That's the point in incorporating, and it's a great safety net when you're that big.
And would we be in big trouble? No, we'd just probably be further along in sustainable energies.
And no, Biden hasn't said he wants to put them out of business. These companies can evolve and adapt or go extinct.

 

[Clizby Wampuscat]

The permits are there. It's not just Biden saying this.

I agree. But it takes years to get the oil out of the ground so saying they can drill as soon as the permits are in place is untrue. Also, they may not need to drill there if 90% of the oil is extracted from private lands. Almost everything is in short supply including labor, pipe, expertise etc. It is not all about the permits but that makes for good political fare.

The oil companies make massive profits. They didn't need these buybacks (that was illegal until about 40 years ago). And the execs aren't risking much at all. That's the point in incorporating, and it's a great safety net when you're that big.
And would we be in big trouble? No, we'd just probably be further along in sustainable energies.

So what, so does Google and Apple and many other companies. That is why they are in business to make a profit.

We need oil based energy to transition to sustainable based energy. Without it there is no sustainable energy. If we cut off the oil supply today we would be in big trouble.

And no, Biden hasn't said he wants to put them out of business. These companies can evolve and adapt or go extinct.

Yes he did:

"Would you close down the oil industry?" ~ Trump.

"I would transition from the oil industry, yes," ~ Biden.

You can say they can change but Biden did say he wants the oil industry to go away.

 

[Shadow Wolf]

"I would transition from the oil industry, yes," ~ Biden.

That's a big difference between that and saying he wants to put them out of business. Those companies, after all, will likely still be around as energy companies even after we've transitioned away from oil.

I agree. But it takes years to get the oil out of the ground so saying they can drill as soon as the permits are in place is untrue. Also, they may not need to drill there if 90% of the oil is extracted from private lands. Almost everything is in short supply including labor, pipe, expertise etc. It is not all about the permits but that makes for good political fare.

The point is, it's all there and Reps can shut up about whining and crying over Biden preventing them from drilling. They can. They have the opportunities, permits and means. They just aren't.

 

[Twilight Hue]

It's pitiful how easily fossil fuel lobbyists have made green energy of all things out to be a scary bogeyman.

Not scary. Just incredibly underwhelming and inefficient compared with fossil energy.

 

[We Never Know]

Wait until electricity takes its crack at the gouging table for the greedy elites and their investors. We've seen nothing yet.

Gas-Powered Cars Cheaper to Fuel than Electric in Late 2022

"2022’s final quarter brought relief at the pump for drivers of traditional Internal Combustion Engine (ICE) vehicles as the cost to drive 100 miles dropped by more than $2. With the cost for electricity also trending upward during the year, mid-priced ICE cars became more economical to fuel than their Electric Vehicle (EV) counterparts for the first time in 18 months.

In Q4 2022, typical mid-priced ICE car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving. That cost was around $0.31 cheaper than the amount paid by mid-priced EV drivers charging mostly at home, and over $3 less than the cost borne by comparable EV drivers charging commercially"


Gas-Powered Cars Cheaper to Fuel than Electric in Late 2022 – Anderson Economic Group

 

[Twilight Hue]

Gas-Powered Cars Cheaper to Fuel than Electric in Late 2022

"2022’s final quarter brought relief at the pump for drivers of traditional Internal Combustion Engine (ICE) vehicles as the cost to drive 100 miles dropped by more than $2. With the cost for electricity also trending upward during the year, mid-priced ICE cars became more economical to fuel than their Electric Vehicle (EV) counterparts for the first time in 18 months.

In Q4 2022, typical mid-priced ICE car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving. That cost was around $0.31 cheaper than the amount paid by mid-priced EV drivers charging mostly at home, and over $3 less than the cost borne by comparable EV drivers charging commercially"


Gas-Powered Cars Cheaper to Fuel than Electric in Late 2022 – Anderson Economic Group

As they say. Writing is on the wall.

 

[We Never Know]

I don't think gas is over-priced.
And recently it's come down.
It's cheaper here than over in
that backward Europe.
So good for Shell's shareholders.

"I don't think gas is over-priced".

$39.2 billion in profits disagree

 

[Father Heathen]

Not scary. Just incredibly underwhelming and inefficient compared with fossil energy.

Then it poses no threat to the fossil fuel industry and thus there's no reason to coach constituents to have such aggressive knee-jerk reactions.

 

[Revoltingest]

"I don't think gas is over-priced".

$39.2 billion in profits disagree

I don't begrudge anyone for making massive profits.
The price at the pump is acceptable to me.
Want revenge?
Buy stock in the company to get some of that filthy lucre.

 

[SalixIncendium]

The purpose of green energy is to be an alternative to fossil fuel.

Of course, but it's important to note that electricity isn't exactly "green."

 

[Father Heathen]

Of course, but it's important to note that electricity isn't exactly "green."

When generated by fossil fuel, of course it isn't.

What are we disputing, exactly?

 

[Revoltingest]

When generated by fossil fuel, of course it isn't.

Even when power is generated by burning fossil fuel,
it can still be greener. Examples...
EVs used for commuting are still green. Short trips in
cars with IC engines are at their worst for thermodynamic
efficiency & emissions.
Induction stoves use much energy than gas ranges.