Oil Companies Don't Need To Be "Bailed Out" They Are Not In Trouble
Apr 3, 2020 13:28:11 #
The idea that this or that circumstance obviously means the oil industry will be in trouble is just plain ignorant. Back when gas was at close to $5 a gallon when the price of crude was going up had ignorant people parroting the concept that of course this meant the price of gas "had" to go up...meanwhile they were posting record $50 billion quarterly profits which is the proof that they were not in trouble, nor did they "have" to raise prices.
"In trouble" to where something has to be done to help them comes with a quarterly statement of profit earnings. I'm sorry, but even getting hit hard to where they "only" made $10 Billion in profit isn't any indicator that they are close to being in trouble. They will survive with their measly $10 Billion profits. If they get into even more trouble, less profits, the oil industry has such high management and owner pay structures that they can save their businesses by reducing their unnecessary overheads. The oil industry will survive this economic crisis without a dime from the government...we will always need their products even if it's much less of them. They will always make money, just much less of it, and they can always adjust gas prices to keep them solvent if need be.
The oil industry does not need billions in subsidies or more tax cuts that end up putting cash returns in their pockets when they pay no taxes in the first place.
"In trouble" to where something has to be done to help them comes with a quarterly statement of profit earnings. I'm sorry, but even getting hit hard to where they "only" made $10 Billion in profit isn't any indicator that they are close to being in trouble. They will survive with their measly $10 Billion profits. If they get into even more trouble, less profits, the oil industry has such high management and owner pay structures that they can save their businesses by reducing their unnecessary overheads. The oil industry will survive this economic crisis without a dime from the government...we will always need their products even if it's much less of them. They will always make money, just much less of it, and they can always adjust gas prices to keep them solvent if need be.
The oil industry does not need billions in subsidies or more tax cuts that end up putting cash returns in their pockets when they pay no taxes in the first place.
Apr 3, 2020 13:52:07 #
woodguru wrote:
The idea that this or that circumstance obviously ... (show quote)
The car companies are lobbying now to get a bale out,and they didn't mine shutting down they already had a glut of cars built and sales slowed down.Now when this virus is over they want have this glut of cars,then they can jack the price up another 10.000 thousand dollars.
Apr 3, 2020 15:32:05 #
roy wrote:
The car companies are lobbying now to get a bale out,and they didn't mine shutting down they already had a glut of cars built and sales slowed down.Now when this virus is over they want have this glut of cars,then they can jack the price up another 10.000 thousand dollars.
Yea, I don't think so, Union contracts and Executive compensation depends on selling more cars and trucks.
Also, I work for a supplier and my neighbor across the street said that all executives with compensation tied to profitability are going to make nothing-There is nothing in the press about Ford Motor asking for a bale out. And they refused it, back in 2009.
For once in life, I would like you to express your OPINION, and at least spend a minute asking a question and instead of stating like you actually know what your talking about...cuz you don't.
https://corporate.ford.com/microsites/sustainability-report-2018-19/assets/files/sr18-proxy-statement.pdf
Apr 3, 2020 15:35:39 #
Apr 3, 2020 19:48:43 #
woodguru wrote:
The idea that this or that circumstance obviously ... (show quote)
One would think not
Apr 4, 2020 05:52:32 #
woodguru wrote:
The idea that this or that circumstance obviously ... (show quote)
The oil owners may not need help, but the entire rest of the field does because every facet of that keeps gas in our cars.
There are a lot of parts and a lot of different people on location.
Apr 4, 2020 06:30:31 #
America 1
Loc: South Miami
woodguru wrote:
The idea that this or that circumstance obviously ... (show quote)
The shale oil companies here in the US are going bankrupt due to low crude oil prices.
Apr 5, 2020 07:16:04 #
America 1 wrote:
The shale oil companies here in the US are going bankrupt due to low crude oil prices.
....oh, well....you had every opportunity to end your investments with this scheme a long time ago...get in, get out.
Start studying up on blue gas, you might realize the next evolution in fuel, rather than worrying about what was lost. The more diversification we encourage in fuel (or broadly energy), the better opportunities we create in our own backyard.
Apr 5, 2020 09:47:51 #
America 1
Loc: South Miami
Sew_What wrote:
....oh, well....you had every opportunity to end your investments with this scheme a long time ago...get in, get out.
Start studying up on blue gas, you might realize the next evolution in fuel, rather than worrying about what was lost. The more diversification we encourage in fuel (or broadly energy), the better opportunities we create in our own backyard.
Start studying up on blue gas, you might realize the next evolution in fuel, rather than worrying about what was lost. The more diversification we encourage in fuel (or broadly energy), the better opportunities we create in our own backyard.
It does not affect me in any way.
Any American company struggling is negative for employees as well as owners.
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