Trumpflation

[bawlmer]

There are no opposite points. Bawlmer showed he knows little to nothing about business not knowing the difference between margins and net profits. Then he switched to revenue in a later post to try to prove something. IDK what.

The bottom line is XOM's margins (and CVX) have been consistent for the past decade. They are not gouging.

Comparing Exxon's last 2 quarterly net profit margins with its average since 2013, and excluding 20202 and 2021 for COVID, they're 1.2 percentage points higher. Based on the data you provided, that's over $1 billion higher profitability per quarter. Whatever you want to call it, even I understand that's good news for the oil business.

 

[ribbont]

Comparing Exxon's last 2 quarterly net profit margins with its average since 2013, and excluding 20202 and 2021 for COVID, they're 1.2 percentage points higher. Based on the data you provided, that's over $1 billion higher profitability per quarter. Whatever you want to call it, even I understand that's good news for the oil business.

Lol. Way to manipulate the numbers. You know, if we eliminate all the losing seasons for IU football, the program looks pretty successful!

You can't just arbitrarily decide covid years don't count. But I suppose you can if you have a narrative you want to prove.

 

[jsig]

 

[Lucy01]

with all due respect , look for my anwser down the road

Is that a Billy Ray Cyrus song?

 

[jsig]

 

[Lucy01]

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👏👏👏👏

 

[UncleMark]

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Clever

 

[bawlmer]

Lol. Way to manipulate the numbers. You know, if we eliminate all the losing seasons for IU football, the program looks pretty successful!

You can't just arbitrarily decide covid years don't count. But I suppose you can if you have a narrative you want to prove.

Should have spelled it out for you, I guess. Trying to compare normal Exxon profitability, not low COVID years. What's your point? If you include 2020 and 2021 the last 2 quarters are absolute windfalls. Is that it?

 

[ribbont]

Should have spelled it out for you, I guess. Trying to compare normal Exxon profitability, not low COVID years. What's your point? If you include 2020 and 2021 the last 2 quarters are absolute windfalls. Is that it?

Sorry it took so long to reply. I think I incorrectly interpreted your post excluding covid years. Anyway, I get your point but I think your overall gouging point is wrong, and here's why.

The revenue is obviously going to be higher due to price and demand. But cost of revenue has been increasing as to the point that XOM's margin last quarter dropped to 6.23% (March '22) from 10.7% (Dec '21) the previous quarter. So their margins actally declined 40%! Why? Because the barrels of oil sold in 4Q21 were extracted when costs were lower, likely in Q3 or Q2 of 21. Now costs are catching up to them and barrels sold in Q1 22 were extracted the prior 3-6 months, when costs such as wages and transportation increased.

So as they are working through their older inventory, the costs are increasing and margins have declined. It will be interesting to see Q2 numbers and margins.

 

[i'vegotwinners]

This post isn’t completely factual. Pretty sure Obama opened 2015 to exporting. I was in the oilfield at that time and the pandemic shuttered the oilfield. The decline was on already. Perfect storm. Trump would’ve had a hard time with oil right now. We are having trouble getting workers as is the oil companies. Rigs are slowly coming on line. OPEC is way more reactive than the US is.

my mistake, you are absolutely correct, it was the economically far right Wall St shill Obama who opened oil up to exporting, and neither Trump or Biden have shut it down.

as for anyone wanting to debate whether Obama was an economic far right Wall St shill who pissed all over consumers and the working class, make my day.

 

[Victorbmyboy]

my mistake, you are absolutely correct, it was the economically far right Wall St shill Obama who opened oil up to exporting, and neither Trump or Biden have shut it down.

as for anyone wanting to debate whether Obama was an economic far right Wall St shill who pissed all over consumers and the working class, make my day.

He had to. The oil boom was helping jobs and fuel prices. It’s hard to fight an important part of the economy.