From Chevron financial reporting with CEO remarks : "As gas prices soared, Chevron’s 240% profit spike was part of “the best two quarters the company has ever seen”, prompting a dividend increase and assurances it would keep production low to maintain high prices" Chevron has also done $10 billion in buybacks in the last two years. "Just as PulteGroup kept housing starts down, oil companies have kept production low while gas topped $7 a gallon in some regions. In earnings calls across the industry, oil executives like Diamondback Energy CEO Travis Stice have promised to keep production flat in the years ahead, “putting returns and, therefore, shareholders first”. “No one wants to see that shareholder return program put at risk with volume growth,” Stice said." Diamondback has done $2.4 billion in buybacks in the last two years. How can oil companies not compete and get away without being chased by the SEC? Apparently because the "arrangements" are made through Wall Street banks and funds. Yes commodities have gone up. But under that cover we are being taken to the cleaners. Fuel drives inflation through the economy. Are the corporations also playing politics?
Americans complaining about the high price of gas...come to Canada and then tell me that gas prices back home are too high.
America has the most of everything good with prices and availability being cheap and plentiful.
Try living in a third world country on the third world 'salary', then tell me of your complaints back home.
Sorry, but all this whining and finger pointing is much like water off a duck's back.
So Turdo is holding you at gunpoint to remain in the new totalitarian "state" to our North?
"Whining" and "finger-pointing." Did you read the post from Lyndon Bradish?
Pretty funny comment sbe.
I suspect you have no idea as to what a totalitarian state is...
Didn't see any transcription of the interview with Bill?
From Chevron financial reporting with CEO remarks : "As gas prices soared, Chevron’s 240% profit spike was part of “the best two quarters the company has ever seen”, prompting a dividend increase and assurances it would keep production low to maintain high prices" Chevron has also done $10 billion in buybacks in the last two years. "Just as PulteGroup kept housing starts down, oil companies have kept production low while gas topped $7 a gallon in some regions. In earnings calls across the industry, oil executives like Diamondback Energy CEO Travis Stice have promised to keep production flat in the years ahead, “putting returns and, therefore, shareholders first”. “No one wants to see that shareholder return program put at risk with volume growth,” Stice said." Diamondback has done $2.4 billion in buybacks in the last two years. How can oil companies not compete and get away without being chased by the SEC? Apparently because the "arrangements" are made through Wall Street banks and funds. Yes commodities have gone up. But under that cover we are being taken to the cleaners. Fuel drives inflation through the economy. Are the corporations also playing politics?
Da*n those pesky CEOs and CFOs...doing everything they can to maximize profits and returns for their shareholders.
Go cry at an ANTIFA riot friend. You'll get a TON more sympathy there...
AFriend would like an economy like Venezuela.