03-03-2022, 04:01 PM
(03-03-2022, 01:18 PM)Rotobeast Wrote: For what it's worth... in the end of December I was in New Orleans and spoke with a couple of different people who worked at refineries that told me that the market was being manipulated by their companies to recoup profits that were lost during the pandemic. Take it as hearsay, but that is what was relayed to me. I do criticize Biden for not opening up reserves sooner. I think doing so would have stimulated the economy and slowed the price increase of many good/services.
That’s pretty much what the earnings reports said when I looked in to multiple major oil companies profits from last year. Major losses in 2020. Stock buybacks and dividend increases to go along with record profits for some in 2021.