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lennybriscoforthewin t1_itzh3vs wrote

I just read that Shell Oil posted record profits. Why isn’t this the headline everywhere? “Despite all my rage I am still just a rat in a cage.”

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Danger-Moose t1_itzmw1p wrote

It has been a record profit year for most companies, but all we hear about is inflation. It's gross and disgusting and makes me a little more anti-capitalist every day.

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AidCookKnow t1_iu0uibh wrote

If you wanna add more rage, Google how much health insurance companies profited during the pandemic. TLDR: a lot.

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dovetc t1_iu0dj98 wrote

Because it's not alarming or particularly unexpected? Energy companies make more when energy prices increase. When energy prices come back down, so will Shell's profits. Broadly speaking, Shell is more at the mercy of these global market forces than they are in control of them. I'm sure XOM and CVX are also doing quite well this year.

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lennybriscoforthewin t1_iu0i5b8 wrote

I honestly don't know- are you saying that it's wrong to blame the oil companies making record profits for the price of gas? It seems to me that if they scaled down the amount of their profits the price of gas could go down.

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