Exxon and other Oil Companies Take Hit

[cm husker]

https://www.google.com/amp/www.wsj.com/amp/articles/big-oil-big-mistake-investors-overpay-for-income-at-exxon-1461951799?client=safari#

 

 

Remember when people (including POTUS) argued that we should tax the profiteering oil companies? Are they willing to offset losses now?

 

This is why the government shouldn't be intervening in either instance (including through subsidies to these companies).

[ZRod]

Their profits are down, but their stocks are ok because they are diversified companies. Remind me again what makes sense about Americans paying $4+ per gallon of gas in a recession (a commodity that affects every aspect of our lives) while the oil companies took in record profits. Of course they are losing some profit now, they made bank for the last 15 years. They can shut down a refinery and drive up prices at will, excuse me if I don't feel sorry for them one bit.

[Red Dead Redemption]

paying $1.60/gal for gas in Austin...'bout damn time.

 

Exxon and their longhorn pipeline plan can suck it.