i think alot of the record profits has to do with record volume. besides, i dunno what you are getting at. it is really none of your business why they make so much profit.
red YOU are the one who wants to keep prices low through government force. YOU are the one who favors burning more oil. you are the one who stands in the way of oil alternatives. you are the greatest anti environment force here. the most important thing for the environment is that oil prices continue to go up, which is the very thing you want to prevent. as long as you have the attitude that you are hopelessly addicted to oil and cant bear to use less, then that is true. always the victim. poor us, we are being manipulated, save us, politicians, save us, big government.
if you work in oil, then yes, it is literally your business, and i dunno why you don't already know. otherwise, not your business. they make profits. you deal with it, end of story. it is no more your business than it is why diamonds or bottled water or anything else costs what they do. people sell things, they choose how much they cost, you choose to buy, or not. the end.
I bought more Exxon and Conoco stock at the beginning of the year. I'm hoping for more record profits.
Red talked about deeper oil. We also stay away from heavy crude right now in favor of the lighter stuff, which is much easier to refine. Heavy crude is more difficult to manage, and the refineries won't switch to it until they have too. (There is a slight process modification that has to take place to refine the heavy crude.)
Not sure where you work but we are and have for many years run extremely sour crude because it's so much cheaper. The sweeter crudes cost more but are easier to refine. The cheaper the crude you can run the higher the profit margin in most cases.
Exxon is a great stock because it splits when it gets to around 100. I had Exxon stock for years. I cashed it in to buy my home.
Last split was around $84, I'm hoping the high gas prices at least continue to get the stock up and split soon.
