2 ms·

I haven't listened to the earnings calls but I seriously doubt the content boils down to "we could drill more and make more money, but... meh"

• feet 4y ago
  Huh? No they make more money by restricting supply, that's what I'm saying. Not drilling and not refining let's them jack up prices while blaming inflation
  • pc86 4y ago
    This doesn't make sense at the micro level though. You have (let's say) half a dozen oil companies all producing roughly x BBL for $y/BBL. What's to stop Company A, who has the means to do so already, from simply producing 1.1x BBL and keeping its price at $y? At a macro level yes, if everyone increases supply 10% you'll see some price fluctuation, but that doesn't necessarily hold for an individual, self-interested company. Hell, that company could produce 10% more but sell it for $y-0.05 and presumably make more money selling for cheaper.
    • feet 4y ago
      Have you listened to the earnings calls?