Exxon record profits again
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SkyPup
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Our stock in Chevron, BP, Exxon, ConnocoPhillips, & Shell have all been doing quite well.
HomeBrew2
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Still very happy with my modest position in Vanguard's Energy fund too 
slowrev
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And whose pockets are those record profits coming out of ?
SkyPup
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slowrev said:
Simple, anyone and everyone willing to pay for their products.
Now guess whose pockets their dividends are all going into?
slowrev
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SkyPup said:
Not my 401K that is for sure
Well I think some of them are, but there must be a lot of losers in there that it is trying to offset.
RalphVa
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Good news for us Exxon-Mobil stock holders.
Most of those profits are probably coming from "upstream", e.g. sale of crude oil at these high prices. Doubt they're making much money on gasoline STILL.
Ralph
Most of those profits are probably coming from "upstream", e.g. sale of crude oil at these high prices. Doubt they're making much money on gasoline STILL.
Ralph
HomeBrew2
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RalphVa said:
Yep, gotta love a hedge
Funny thing is that ANYONE can "dollar cost average" into positions in energy/oil stocks/funds and hedge their fuel costs ... but it does take homework ... and a stomach (or antacid) rickmacheske
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We should be talking about who is causing them to have such big profits. Hmmmm..... less competition = more profit. The government is restricting the drilling and refining so much that the big oil companies are the only ones left in the business. Even they can't drill on US soil much anymore. Also, try to start a new refinery and see how far you get. Bottom line...it's our government that's causing the high profits and the high price of gas....
SkyPup
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Actually, it is not our government that is causing the high prices as you implied, it is foreign governments.
If you remember, our oil companies were the ones who discovered, drilled, and built the infastructure for oil recovery in Saudi Arabia, Kuwait, Iraq, Nigeria, Oman, Iran, Venezuala, Libya, etc. etc. etc. and then once they were successful, these outlaw nations nationalized, ie stole the entire setup.
Plus, it would be rather difficult to fail to profit off the millions of the heaviest, fattest, low mileage gas hogs polluting our US highways, every other nation has much higher fuel efficency for its fleet, thereby making it more difficult to sell petro products to their consumers. If our fleets average fuel mileage were to double, the oil companies profits would be halved......
If you remember, our oil companies were the ones who discovered, drilled, and built the infastructure for oil recovery in Saudi Arabia, Kuwait, Iraq, Nigeria, Oman, Iran, Venezuala, Libya, etc. etc. etc. and then once they were successful, these outlaw nations nationalized, ie stole the entire setup.
Plus, it would be rather difficult to fail to profit off the millions of the heaviest, fattest, low mileage gas hogs polluting our US highways, every other nation has much higher fuel efficency for its fleet, thereby making it more difficult to sell petro products to their consumers. If our fleets average fuel mileage were to double, the oil companies profits would be halved......
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