Up In Smoke
Well-Known Member
Wages and benefits
Exxon Mobil....Was There Ever Any Doubt?
- Thread starter bacha29
- Start date
Was it Trump that shut down the economy or was it state governors?
I seem to remember a lot of screaming on TV about Trump being a bad guy for not locking everything down…
oldngray
nowhere special
And DeSantis got hammered by the media for not locking things down.
Which resulted in Florida doing just as well as states that did lock things down.
GOGOGOGO. More please.
GOGOGOGO. More please.
Seriously?
Up In Smoke
Well-Known Member
Wages are up more than 20% since 2019 and benefits more than 30%. Cost passed to the end consumer. It's Capitalism. We are paying around 40% more for the same productivity since 2019. When I say we, I mean my wife and I.
And less supply with record profits doesn't enter the equation?
Up In Smoke
Well-Known Member
That's capitalism. The consumer has the final word.
Uh-huh, we're having higher prices at the pump because wages and benefits have gone up so much that the oil companies/convenience stores/truck stops must charge record high fuel prices. Meanwhile the oil companies are making record profits but are passing on their rising costs. Uh-huh.
Up In Smoke
Well-Known Member
Oil is almost the exact same price as 2018. The major difference is wages and benefits are 25% higher across the board. The raw material costs have not increased but the final product has. So logic would dictate that the cost of production has increased. Insurance, unemployment, worker's comp, 401k, and dozens of other costs have increased.
Up In Smoke
Well-Known Member
Oil prices are traded on the open market. Price per barrel will fluctuate based on dozens of worldwide factors. The US oil producers got burned in 2020 and have hundreds of billions of dollars to recoup. They owe it to there stock holders to hold prices high.
Up In Smoke
Well-Known Member
Same people who are paying for the 30 trillion of added debt over the last 22 years.
5 refineries have shutdown in the US over the last 2 years. 5% drop in production. They are trying to slow the economy with demand destruction instead of increasing supply. High fuel prices are from bad energy policy.
State governors.
Everything including raw materials has increased.
Up In Smoke
Well-Known Member
Exxon just reported the best quarter earnings report in company history. Payback is a bitch.
bottomups
Bad Moon Risen'
Inherited about 375 shares a year ago. I'm not complaining.
Up In Smoke
Well-Known Member
I've owned the stock for decades. Buy, sell and option when it hits my numbers.
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