News From Chevron

[bacha29]

Today Chevron announce increased dividends, bonus pay for executives, and an additional 75 billion in stock buybacks. Plans for an increase in drilling activity?.....Silence.
Why do that? They've got a good thing going. They've regained control of the market and will keep supplies tight.

OPEC has made their point crystal clear by saying that $90 oil makes them smile. $80 oil is acceptable but it will never again go below $70 and they will most certainly see to it that it doesn't.

 

[BrownFlush]

Today Chevron announce increased dividends, bonus pay for executives, and an additional 75 billion in stock buybacks. Plans for an increase in drilling activity?.....Silence.
Why do that? They've got a good thing going. They've regained control of the market and will keep supplies tight.

OPEC has made their point crystal clear by saying that $90 oil makes them smile. $80 oil is acceptable but it will never again go below $70 and they will most certainly see to it that it doesn't.

What's your point?

 

[bacha29]

What's your point?

The sheer power of the global oil industry. The president doesn't run the country. The Chairman Of The Federal Reserve Board runs the country. Same holds true with the global oil industry. The power of the US president to impact it is very limited. The power rests with producers and traders. They lost control of their market during COVID. They've recaptured it and will never allow it to escape their control again.

 

[Wally]

What's your point?

Invest in energy companies?

 

[newolddude]

What's your point?

That big oil does not need to be protected.

 

[vantexan]

Today Chevron announce increased dividends, bonus pay for executives, and an additional 75 billion in stock buybacks. Plans for an increase in drilling activity?.....Silence.
Why do that? They've got a good thing going. They've regained control of the market and will keep supplies tight.

OPEC has made their point crystal clear by saying that $90 oil makes them smile. $80 oil is acceptable but it will never again go below $70 and they will most certainly see to it that it doesn't.

You surely are aware that most new drilling comes from wildcatters who explore Federal lands for potential oil? And that Federal land has been cut off to them?

 

[BrownFlush]

FYI… Biden doesn't want it spread around but he reopened federal land for oil and gas leasing and drilling. I'm thinkin' it was back in the summer.

 

[bacha29]

You surely are aware that most new drilling comes from wildcatters who explore Federal lands for potential oil? And that Federal land has been cut off to them?

He placed a pause on new drilling until a environmental revue could be completed. Didn't want another Gulf fiasco when an environmental group sued claiming that the full environmental review had not been completed prior to putting out the leases. Regardless OPEC and OPEC+ has every intention of keeping prices within their stated goals.

 

[BrownFlush]

The sheer power of the global oil industry. The president doesn't run the country. The Chairman Of The Federal Reserve Board runs the country. Same holds true with the global oil industry.

Money runs the country. Capital. Supply and demand.
Inflate the dollar (because of poor leadership) print more debt, FRB raises rates because the dollar buys less.
Stop oil production. Oil, like all companies are in it to make money. Oil will go up because of limited supply to sell.
It's not hard.

 

[Jiangshi]

Bloomberg - Are you a robot?

 

[vantexan]

He placed a pause on new drilling until a environmental revue could be completed. Didn't want another Gulf fiasco when an environmental group sued claiming that the full environmental review had not been completed prior to putting out the leases. Regardless OPEC and OPEC+ has every intention of keeping prices within their stated goals.

Uh-huh. And he did that immediately after being inaugurated because he was so concerned about environmental fiascos.

 

[vantexan]

FYI… Biden doesn't want it spread around but he reopened federal land for oil and gas leasing and drilling. I'm thinkin' it was back in the summer.

But he didn't remove the regulatory burdens he installed that make it extremely difficult to go forward with exploration and drilling. He can say he's trying to help while keeping his far Left base happy.

 

[bacha29]

Uh-huh. And he did that immediately after being inaugurated because he was so concerned about environmental fiascos.

This is the platform he ran on along with returning the US to the Paris Climate Accord and to rebuild the relationship with NATO. You can go on dreaming about the days of cheap gas where you can come and go as you please never having to consider the cost if you want to. But dreams are all that you've got. Today's moves by Chevron and word from OPEC tells you in plain and simple terms that the GLOBAL energy market is once again in control.

 

[vantexan]

This is the platform he ran on along with returning the US to the Paris Climate Accord and to rebuild the relationship with NATO. You can go on dreaming about the days of cheap gas where you can come and go as you please never having to consider the cost if you want to. But dreams are all that you've got. Today's moves by Chevron and word from OPEC tells you in plain and simple terms that the GLOBAL energy market is once again in control.

OK, let's go back to pre Biden regulations and policies and see if it makes a difference.

 

[bacha29]

OK, let's go back to pre Biden regulations and policies and see if it makes a difference.

OPEC and Big Oil doesn't care what Biden has to say or does. They've got control of the market again and this time they're not letting go.

 

[vantexan]

OPEC and Big Oil doesn't care what Biden has to say or does. They've got control of the market again and this time they're not letting go.

Supply and demand dictates price. Let's see how increased production from "Small Oil" affects the market. Refusing to rescind executive orders and not returning to Trump era policies while blaming it all on Big Oil and OPEC sounds a bit disingenuous.

 

[BrownFlush]

It's not just oil.
Leftist hate companies that pay CEO's, Exec's, shareholders big because of huge profits. We can't have that. Companies that make billions are bad. Equity, baby. Equity.
Global "energy" market. Bull st. That's part of the "global mentality" of the left.
America is the world if the libs would stop bitchin' and riding the ideologue carnival ride the puppet master (Susan Rice) for the head clown has them on. Admission is free, of coarse.

 

[TearsInRain]

The sheer power of the global oil industry. The president doesn't run the country. The Chairman Of The Federal Reserve Board runs the country. Same holds true with the global oil industry. The power of the US president to impact it is very limited. The power rests with producers and traders. They lost control of their market during COVID. They've recaptured it and will never allow it to escape their control again.

all true, but other than the Fed running the show, i say "so what"?

 

[Jiangshi]

It's not just oil.
Leftist hate companies that pay CEO's, Exec's, shareholders big because of huge profits. We can't have that. Companies that make billions are bad. Equity, baby. Equity.
Global "energy" market. Bull st. That's part of the "global mentality" of the left.
America is the world if the libs would stop bitchin' and riding the ideologue carnival ride the puppet master (Susan Rice) for the head clown has them on. Admission is free, of coarse.

What?

 

[BrownFlush]

What?

Just give me a thumbs down.
You'll feel better.