Posted on 06/10/2022 2:49:58 PM PDT by Cecily
President Joe Biden said Exxon made 'more money than God last year' as he attacked oil companies for not 'drilling' or paying taxes while gas prices are breaking records in a speech Thursday where he continued to blame 'Putin's price hike' on 41-year high inflation.
Biden spoke at the Port of Los Angeles just hours after a report was released showing annual inflation in the US has jumped 8.6 percent, blowing past expectations and dashing any hopes that consumer price increases had peaked.
'Today's inflation report confirms what Americans already know — Putin's price hike is hitting America hard,' he said and conceded that prices need to come down further.
(Excerpt) Read more at dailymail.co.uk ...
Exxon’s profit margin is currently at 6.25% which is close to its historical average. If Exxon is price gouging, it is not doing a good job of it.
‘Today’s inflation report confirms what Americans already know — Putin’s price hike is hitting America hard,’
“he attacked oil companies for not ‘drilling’ or paying taxes”
The breathtaking dishonesty of this prick is something to behold. He has blocked the drilling and taxes get past to consumers you lying POS.
Meanwhile, no mention of his woke ESG corporate buddies who are making financing of oil drilling harder to come by.
Trump had the US energy independent. biden is the problem.
Funny. No one ever says that about Apple, Microsoft or Goldman Sachs
You can thank the Republican Party and Con Inc. for this.
Right now, they are tweeting and laughing at Joe. While Graham still confirms his judges and other appointees.
Let's start with the term fossil fuel itself. It is a completely made-up term by Rockefeller to introduce scarcity.
Many people simply don't know that oil is continuously made by deep forces in the Earth's rotation. In fact, more oil is produced than it can be used.
If our side would pound on this fact, and change the narrative that oil, natural gas, and coal are naturally-created fuels that will do far more to power America than a million windmills or solar panels, the Democrats would be utterly destroyed as a political party and we'd have enough energy for the next several centuries.
Exxon had a net profit in 2018 of $20.8 billion. So, 20.8 B dollars divided by 34.7 billion gallons they produced is about $.60 per gallon. Note that many of their products are much more valuable than gasoline and we will find that they probably made less than 20 cents per gallon of gas. That is less than 10%. Not much of a profit margin for a very risky business.
“’Exxon made more money than God this year’”
You mean that Exxon made more money than the Catholic Church?
WOW! THAT is a LOT of money!
Fxxk Joe Biden.
Biden’s administration is canceling oil drilling leases and shutting down oil pipelines. Now he has the gall to Exxon isn’t drilling enough.
I’d say it’s time for a military coup, but the military leadership is all woke now.
Biden, your strangulation of petroleum supply created these high prices. But you knew that. This is about trying to deflect blame for your actions.
I’ve been in support of providing aid to stop Putin (on the Sudetenland analogy), but I’m rethinking that. I will not support Dem propaganda (on the economy or anything else).
This inflation and upward trend of gas prices started well before Putin’s invasion of Ukraine and Biden is the one who, starting day one, has worked to take the axe to our domestic supplies and production. Putin had nothing to do with it. At the same time, Biden projected a weakened United States to the world which emboldened pariahs like Putin, and Biden emboldened and essentially bankrolled this invasion by greenlighting Russian pipelines while cancelling ours. Biden and his policies are responsible all around for this.
Exxon makes about .13 cents a gallon of gas, the US Government taxes it at 18.4 cents a gallon. In Ohio we tax it 38.5 cents a gallon. Our roads should be paved with gold!
So Black Rock can buy them up for pennies on the dollar.
No such thing as fossil fuels. We’re not pumping T REXES out of the ground and refining them. They’re hydrocarbons which are naturally occurring and plentiful.
I wish the CEO of EXXONMOBIL would create an infomercial combatting this fallacy. But he is a greenie as well.
Yes, believe it or not, all of the major oil companies are now led by green, carbon capture lunatics.
Funny how no one talks about how cyclical oil is and how oil companies can have a string of years of negative earnings. He should be happy. This will speed up the adoption of electric cars for sure.
I bought Exxon when it was $40 a share and they couldn’t give oil away. Sharty Joe didn’t offer anything then and he doesn’t offer anything now. Why doesn’t anyone ever complain about Apple and Microsoft who make huge profits every year, North of 25%? Because good for them and good for Exxon.
Communist Biden and his Admin
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