Big oil companies continue to post banner profits as fighting in Iran drives costs higher
https://apnews.com/article/oil-prices-iran-war-gas-inflation-7f2d2d1b9d8d4ac9fd3566b200fdd577
https://apnews.com/article/oil-prices-iran-war-gas-inflation-7f2d2d1b9d8d4ac9fd3566b200fdd577
9 Comments
village604@adultswim.fan · 22 pts · 29d
If their profits are increasing, that means their costs aren't the issue.
Taldan@lemmy.world · 2 pts · 29d
Production costs haven't gone up for anyone. It's purely a supply issue, as production has been entirely halted for ~18% of the world's oil
jaykrown@lemmy.world · 2 pts · 29d
I hope they stay greedy, this will only accelerate the transition to renewables even faster.
CADmonkey@lemmy.world · 1 pts · 28d
My personal wackadoodle conspiracy theory, which I unload on anyone in my red state who doesn't run away fast enough, is that trump is a liberal plant to trick the US into switching over to renewables.
EmpathicVagrant@lemmy.world · 16 pts · 29d
*As they exploit the slight increase to their costs to make markedly more in profits by charging consumers a 1200% markup of the cost difference.
dogslayeggs@lemmy.world · 6 pts · 29d
That's the great thing about percentage-based profit margins.
video@lemmy.world · 4 pts · 28d
Dont forget about the US spending 35 billion dollars of tax payers money a year to subsidize the fossil fuel industry...
MrMakabar@slrpnk.net · 3 pts · 28d
Two decades ago the US waged war to get oil from the Middle East. Today it wages war to stop oil from the Middle East.
REDACTED@infosec.pub · 1 pts · 27d
Maybe Trump is a visionary and realized Russia is going to need that oil more than the west