Posted on 07/31/2020 7:20:31 AM PDT by deport
Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need for oil around the world.
The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year. The quarter was one of the worst on record for the oil industry.
The price of a barrel of benchmark U.S. crude fell below $0 in April, a stunning downfall that had not before been seen in the industry.
(Excerpt) Read more at beaumontenterprise.com ...
And gas prices here in the People’s Soviet of Washington is up. Up 18 cents from two weeks ago. $2.63/gal
Don’t expect to hear anyone complaining about “obscene profits”.
Lot of people still on the roads out there.
Steady in New Hampshire @ $1.96/gallon.
Yup. Still over $3 here in CA, but of course most of that is Tribute to Gavin.
We’re supposed to cry crocodile tears over the guys who bent us over every chance they got since 1973?
Screw them. Maybe they can drink the black goo with their Muslim buddies over in IslamoNutLand.
Yes. Here in KY it was below $1.50 but is now over $2. I don’t know what is driving that kind of price increase. To use that ratio in an analogy, imagine Cars going for $15,000 and then demand plummets, so the prices are increased to $20,000.
Can yu believe anything these guys say? How many yrs ago were they jacking up prices because of “peak oil” We are running out of oil in the world.
I have to admit I’m shocked at the traffic. We did a trip to the Louisville area a week ago and did notice that the backups were gone, but a month ago we were in the Seattle area and it seemed as bad as it always was.
$2.13/gallon by my Florida house
So, the oceans are receding?
Don’t expect to hear anyone complaining about “obscene profits”.
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When prices and profits go up they’re ‘manipulators’ taking advantage of people. The politicians and media decry “price gauging” and demand regulation. Yet when prices and profits fall there’s nothing but silence from all these critics.
I used to fill my tank twice a week when I was commuting to work. I’ve been working from home since March and I just filled up for only the third time since then. I love it.
Lot of people still on the roads out there.
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Half the trips are probably unnecessary. Americans love the feeling of going “somewhere”.
Gas prices have crept back up, though. In my neck of hte woods they are right around where they were before the China Virus hit.
At the Shell station I use here in SW Arkansas the cost had risen to $1.99 and held steady there for two/three weeks. Yesterday it had dropped down to $1.89 for no real reason.
My BP shares have been pulverized, but they are determined to maintain their high dividend. The pipeline company shares that I own decided to raise their dividend starting in September.
So, the oceans are receding?
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LOL! According to all the liberal climate hysteria that would be the logical conclusion.
The only question is when is the bailout and how is it going to cost us.
You sound like a typical lefty college student, congrats.
Looks like they want to gouge people who will fill up for the "hurricane" (all we'll get here is an inch or two of rain and some wind)...
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