It’s time for government mandated maximum prices. Helping people pay high bills is just sponsoring these large companies with tax money.
And…?
The reward of two years of continuing maintenance and exploration whilst oil was cheap as dirt under covid.
Large part of that money will be funneled in green investments or returned to shareholders, the largest among them being institutional pension funds.
They aren’t non profit and politicians refuse to intervene. How many shares in oil companies would someone like Guterres have?
Never sell Shell
This is non-news. Nobody was complaining when in 2020 oil companies recorded record-losses or before when many small american fracking companies went bankrupt because opec decided to overproduce and push prices down.. when those companes had record levels of debt, the public isnt screaming to bail them out, but when they post profits you want to tax them and have price-ceilings..
Those oil companies are private or publicly traded companies, they have an obligation (yes, a literal.obligation in for example the usa) to maximize profits for their share-holders.
Want to sell cheaper oil? Create your own government owned (or at least a majority stake held by the government) oil company like in Brazil or Russia..
Otherwise no right to complain.
If I would own a company and had the opportunity to make a huge profit, that’s what I would do…
Also those companies pay out most of their profits as dividends, which go to the shareholders (and if you’re so jealous, then buy shares yourself and become one.. most big oil companies trade publicly..) and get taxed a lot. The belgian government just made a record amount of money from “roerende voorheffing” (tax on dividends)
Don’t see the issue here. They’re providing services & goods that the market demands and making money off of it in accordance with law, just like any other business. Like, do people not know how the world works?
Not the oil companies’ fault that the world is willingly letting themselves be dependent on their products.
Excellent new for the shareholders!
But, but, but ….. Inflation ….
Thank god we can still count on Minister Van Peteghem to handle that! /s
10 comments
It’s time for government mandated maximum prices. Helping people pay high bills is just sponsoring these large companies with tax money.
And…?
The reward of two years of continuing maintenance and exploration whilst oil was cheap as dirt under covid.
Large part of that money will be funneled in green investments or returned to shareholders, the largest among them being institutional pension funds.
They aren’t non profit and politicians refuse to intervene. How many shares in oil companies would someone like Guterres have?
Never sell Shell
This is non-news. Nobody was complaining when in 2020 oil companies recorded record-losses or before when many small american fracking companies went bankrupt because opec decided to overproduce and push prices down.. when those companes had record levels of debt, the public isnt screaming to bail them out, but when they post profits you want to tax them and have price-ceilings..
Those oil companies are private or publicly traded companies, they have an obligation (yes, a literal.obligation in for example the usa) to maximize profits for their share-holders.
Want to sell cheaper oil? Create your own government owned (or at least a majority stake held by the government) oil company like in Brazil or Russia..
Otherwise no right to complain.
If I would own a company and had the opportunity to make a huge profit, that’s what I would do…
Also those companies pay out most of their profits as dividends, which go to the shareholders (and if you’re so jealous, then buy shares yourself and become one.. most big oil companies trade publicly..) and get taxed a lot. The belgian government just made a record amount of money from “roerende voorheffing” (tax on dividends)
Don’t see the issue here. They’re providing services & goods that the market demands and making money off of it in accordance with law, just like any other business. Like, do people not know how the world works?
Not the oil companies’ fault that the world is willingly letting themselves be dependent on their products.
Excellent new for the shareholders!
But, but, but ….. Inflation ….
Thank god we can still count on Minister Van Peteghem to handle that! /s
Luke, I love free market capitalism