Oil Majors Profits Doubling with Iran War

https://consortiumnews.com/2026/07/31/oil-majors-profits-doubling-with-iran-war/

104 points · 9 comments · view on lemmy.world

9 Comments

UnderpantsWeevil@lemmy.world · 8 pts · 30d (6 replies)

US Domestic oil markets are absolutely vibrating with demand.

Anyone reliant on the Saudis, Qataris, or Kuwaitis for oil... less so.

EvergreenGuru@lemmy.world · 9 pts · 30d (5 replies)

Prices go up with the market. I don’t own any oil assets, but I do own a car.

If the US owned its oil resources, it could subsidize costs for citizens. As it stands, all I see is an economy being squeezed by another foreign conflict I didn’t even vote for.

anarchy79@lemmy.world · 9 pts · 30d (2 replies)

I don't even own a car and I'm getting fucked over by this.

Aceticon@lemmy.dbzer0.com · 1 pts · 29d (1 reply)

Well, over the long and maybe even medium term you might be better off at many levels if this accelerates the transition away from fossil fuels (unless you're in the US, that is, were politicians are working hard to stop actually reverse that transition).

Silver lining??!

anarchy79@lemmy.world · 1 pts · 15d

My friend, I don't even have a driver's license. I hate cars. I hate smog. I hate exhaust. I hate parking garages. I hate traffic. I hate cars. I really hate cars. I think being in traffic all day is what killed my mom. Idiopathic lung fibrosis.

I don't need that shit. Fossil fuels and plastic needs to go.

Peace.

phutatorius@lemmy.zip · 4 pts · 29d (1 reply)

it could subsidize costs for citizens

Right. Because encouraging more fossil-fuel consumption is such a brilliant long-term strategy.

EvergreenGuru@lemmy.world · 0 pts · 29d

The goal would be to have another mechanism to stabilize prices domestically. You’re changing subjects from the economy to the environment.

phutatorius@lemmy.zip · 4 pts · 29d

Hit them with a windfall tax. Use the proceeds to change over to renewables. Tighten the restrictions on corporate lobbying and on financial contributions to political parties.

muusemuuse@sh.itjust.works · 3 pts · 29d

interesting that