Replies to post #433007 on Tornado Alley (PROG)

[sortagreen]

The article was presented to illustrate a very simple point, and you went off on a tangential rant.

my point that the company is worried about their stock price not anyone or anything else

Well... no. Not quite.

This does not speak to the point at all. It speaks to a different point.

A corporation ledgering record profits is a mile from their bottom line.
And that's the point, corporations today operate with a elevated 'bottom line' that is well into the profit levels, so when it drops to 'their' bottom line, they're still in profits.

The tight oil supplies are due to market forces. Tighter supplies mean higher profits. And drilling for oil is risky and expensive. They won't drill for more oil, because they're being well rewarded for maintaining their current production levels. It's refreshingly honest, and the shale drillers have been saying it for a year.

My post was not a diatribe about social responsibility, or corporate greed, or creative accounting, or how oil field workers make a living. Those are all valid points in some other thread. If, for instance, you think we should nationalize the oil industry, that's actually a conversation I'd be willing to have, but my post was not about that.

My post was about the price of oil and the reason for that price... specifically, that the reason isn't Joe Biden.