Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Guardian)   Oil companies made $174BIL in the first nine months of the year as they refused to increase production to the left; crude, refined, and high-octane responses to the right   (theguardian.com) divider line
    More: Followup, Petroleum, largest oil, gas companies, gasoline prices, top oil, rising cost of oil, commodity prices, Biden administration  
•       •       •

223 clicks; posted to Business » on 06 Dec 2021 at 10:34 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



9 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-12-06 10:48:57 AM  
High gas prices are bad!  Blame Biden!

(Next year- Low gas prices are bad!  Blame Biden!)
 
2021-12-06 11:18:17 AM  
Being an oil Baron isn't about making money. It's about crushing your enemies and grinding their bones into dust.
 
2021-12-06 11:42:27 AM  
Enjoy it while you can, everybody. Beat  on those oil companies! All of the oil companies most people CAN'T name are the ones making the big bucks. The national companies are doing the exploration and growth. They will be the ones pumping oil for their own nations in the coming decades. Eventually, for better and worse, the West will be dependent on "elected for life" tyrants in Russia, China, and Saudi Arabia, and a few others for much more than half its energy.

The seven sisters wielded a lot of power,  but eventually had some accountability, as their recent state shows.  At the very least, they were pro-Western. The new national companies are accountable to their own governments, and the policies of those governments, so it will be a whole new ball game.

What greens have managed yet again is an OWN-GOAL. By weakening Western energy interests, they have given up the influence they had over strong players. Now they have to try to affect policy with only weak or no influence over increasingly strong national players.

Nil desperandum! Solar PV (made in China) and wind turbines (magnets made in China) will surely save the day for the Western democracies.
 
2021-12-06 1:18:22 PM  
There were a couple good threads on OPEC a few years ago when SA made a strategic decision to boost production and oil was selling at a loss.

Part of it was in SA's response to Russian refusal to cut production, but also in response to US shale production (fracking). Remember when we were the leading producer in the world a few years ago?

Flooding the market put the squeeze on the smaller OPEC partners, which only made SA stronger. And put a lot of US wells out of business. HRH bin Salman was able to swoop in and purchase a lot of US assets at a deal. Sort of 'If you can't beat 'em, buy 'em' thing.

And you didn't hear a peep about it because SA was simultaneously signing arms deals with TFG and the Pentagon. From the way I heard it, TFG wanted to sell SA some of our nukes. Jezus....
 
2021-12-06 1:31:47 PM  
But, hey, let's keep those subsidies rolling in for the poor bastards.
 
2021-12-06 2:20:28 PM  
Fossil fuel companies don't need any more subsidies.  Period.  Full stop.

Take ALL the subsidies we're giving them and put it into renewables, and EV infrastructure.  It's not like new pipelines or coal plants or oil drilling rigs will create any new jobs anyway.  All the jobs are in renewables...and oh...yeah...they PAY a lot better, too.
 
2021-12-06 2:57:21 PM  

The_EliteOne: Being an oil Baron isn't about making money. It's about crushing your enemies and grinding their bones into dust.


That's bonemeal barons.  Being an oil baron is about crushing your enemies in an olive press to collect their essential oils.
 
2021-12-06 3:04:22 PM  
What was their gross income? The article is not so clear on that.
 
2021-12-06 3:56:48 PM  

2fardownthread: Enjoy it while you can, everybody. Beat  on those oil companies! All of the oil companies most people CAN'T name are the ones making the big bucks. The national companies are doing the exploration and growth. They will be the ones pumping oil for their own nations in the coming decades. Eventually, for better and worse, the West will be dependent on "elected for life" tyrants in Russia, China, and Saudi Arabia, and a few others for much more than half its energy.

The seven sisters wielded a lot of power,  but eventually had some accountability, as their recent state shows.  At the very least, they were pro-Western. The new national companies are accountable to their own governments, and the policies of those governments, so it will be a whole new ball game.

What greens have managed yet again is an OWN-GOAL. By weakening Western energy interests, they have given up the influence they had over strong players. Now they have to try to affect policy with only weak or no influence over increasingly strong national players.

Nil desperandum! Solar PV (made in China) and wind turbines (magnets made in China) will surely save the day for the Western democracies.


Thank you for this. Doesn't it feel better to just openly shill for fossil fuels rather than pretend to be concerned about the environment?
 
Displayed 9 of 9 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.