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Oil companies report sky-high profits thanks to wartime crude prices
- ReptileMan 3mo agoBefore 2008 oil was above 100$ per barrel, and dollar was worth a lot more back then.
- ghastmaster 3mo agoI often wonder how people so quickly forget this. That said, the inflation we have seen since could be such that $100/barrel today is equally or more burdonsome.
- nharada 3mo agoIs your point that such historical prices only occur when the shit is hitting the fan? Because the first time oil ever went above $100 was at the start of the 2008 financial crisis... [1] https://www.cbsnews.com/news/oil-prices-top-100-for-first-time-ever/ https://www.cbsnews.com/news/oil-prices-top-100-for-first-ti...
- gib444 3mo agoTheir point is that $100 in 2008 adjusted for inflation is around $155 today
- java-man 3mo agoSomeone I know bought two electric cars earlier this year and is very, very happy.
- dyauspitr 3mo agoYeah I drive about 40 miles a day and pay about $20 per month. I would have had to pay $350/month or so with an equivalent gas vehicle.
- dominotw 3mo ago350 how? my subaru gives me 30 mpg in the city.
- kube-system 3mo agoSUV and California gas prices?
- dominotw 3mo agosuv? crostrek is an suv and all suvs in that class seeem to have even better milage than my old crostrk.
- kube-system 3mo agoAnd most SUVs aren’t a crosstrek. There are valid point of comparison that aren’t your car.
- dominotw 3mo ago[flagged]
- dyauspitr 3mo agoEquivalent gas Ford F-150, I have a lightning
- pudgywalsh 3mo ago> I have a lightning ...which are going for $50k-$75k USED. Did you forget to amortize that number or is it included in the $20? Will you pay off the loan in the year 2326?
- dyauspitr 3mo agoA new gas F150 isn’t that far off they cost roughly 50,000 as well which is what my truck cost, new. I had a three-year interest free loan. It’s all paid off.
- estearum 3mo agoHilariously, Trump will go down as the most significant POTUS in history for the transition away from oil. Everyone in the world (except our very own kakistocracy) is scrambling to decouple from this energy source.
- gib444 3mo agoYou were brave, but nothing can stop the inevitable downvotes lol
- otterley 3mo agoHooray for their investors, I guess.
- BatFastard 3mo agoWhy don't I hear anyone mentioning "Windfall profits tax" Are oil companies immune from legislation under the current administration?
- throw1234567891 3mo agoThe whole point of this war is to make money on oil.
- dominotw 3mo agowould you buy chevron stock now ?
- throw1234567891 3mo ago“It’s just business”.
- fhdkweig 3mo agoIf you buy now, you are buying high. The time to buy was before the war was announced publicly. That's what insider trading is for.
- dominotw 3mo agoi dont see any particular spike on the stock price when war was annouced. how is it insider trading?
- pstuart 3mo agoIn the past, yes. Because this admin has only one person who calls the shots, it was started because he wanted it. Reports indicate that Bibi played on his ego, and recent "success" in Venezuela gave the illusion that "regime change" was easy, as well as an apparent long time hatred for Iran were the drivers here. It is mind boggling that tens of millions of people continue to say "This is fine."
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- bix6 3mo agoWorst administration ever. Worst business leaders ever. I hope something can change.
- notyourwork 3mo agoAmerica is not on the path for greatness? Consider me surprised.
- downrightmike 3mo agoWorked better when that was Clinton's slogan
- Cernunnos 3mo agoClinton's path to greatness got the US into the mess that it is in right now, the whole neoliberal agenda is to blame for this.
- Sabinus 3mo agoShouldn't you be complaining about Regan and Thatcher then?
- downrightmike 3mo agoNixon opened up china to our manufacturers in 1971. Nixon promised the VietCong a better deal if they walked away from peace negotiations in 1969.
- api 3mo agoThey're doing great if you're on the beneficiary side: oil companies, defense contractors, the Trump family, Israel, Qatar, Saudi Arabia, etc. All that is at the expense of the rest of the economy. The sectors that are hit the hardest tend to be, with the exception of those above, the ones who voted (disproportionately) for these people. ... which is what you get with a narcissist. The people hurt the most by a narcissist tend to be those closest or those that support them.
- seydor 3mo agoThey can go even higher if we make more war
- toomuchtodo 3mo agoHopefully oil prices stay high or go higher, helps clean tech and electrification accelerate. We are too lazy otherwise to transition off of fossil fuels faster.
- LightBug1 3mo agoGrotesque, but unsurprising
- yogthos 3mo ago*shocked pikachu*
- patwolf 3mo ago> Combined, the three companies raked in, on average, some $404 million in profits every day for the last three months. Just for perspective, Nvidia's daily profits for the past quarter are $641 million. For Apple it's $327 million.
- mr_toad 3mo agoIf you constrained the inputs of Apple or Nvidia then their sales and profits would tumble (just look at what happened to Apples stock price in the last week because of the memory chip shortage). Off the top of my head I can’t think of another company or industry that would profit from a supply side shock the way the oil industry does.
- Legend2440 3mo agoThe oil industry as a whole does not benefit from supply side shocks. However, the US oil industry is not supply constrained by the war. They can still produce as much oil as ever. It's only their competitors in the middle east that are affected. They reduces the global supply of oil and increases demand for US oil. That's why their profits are up.
- Arodex 3mo agoAnd it would be worse if China didn't take extraordinary actions to cut its oil consumption by 40% yoy - back to the level of consumption from 19 years ago: https://www.axios.com/2026/07/30/china-oil-price-iran-power https://www.axios.com/2026/07/30/china-oil-price-iran-power If they can't sustain that level, or decide to stop taking action, the level of pain is going to be immense.
- thelastgallon 3mo agoIf they wanted to inflict pain on USA and bring about a regime change, they probably wouldn't have done that. Most likely, having the current admin in power is the best thing for China: shows them as a reliable trade partner, boosts solar and EV exports, etc.
- mullingitover 3mo agoUS voters chose to reduce their taxes by a margin they won't notice in exchange for increasing their energy prices by an amount they will absolutely notice. The wild thing is that this is an extremely predictable thing that has happened every time this political party is given control of the military. The chutzpah of claiming to be anti-war is breathtaking, and it's stunning that voters fell for it.
- ryanmcbride 3mo agoThey didn't fall for it, this is what they want. They don't want low prices, they don't want cheap gas, they want war. They don't care how much they have to pay to get it. They want death and blood. Engaging with their false narrative doesn't do anything but reinforce it.
- mullingitover 3mo ago> They didn't fall for it, this is what they want. If it's what they wanted it's very odd that the winning candidate's platform swore no new wars. It's also weird that his approval rating is bouncing around at the lowest level ever recorded as he's prosecuting a war that his constituents want.
- ryanmcbride 3mo agoeveryone on the planet who heard that knew it was a lie, including every person who voted for him. They voted for him because they KNEW he was lying not because they thought he was telling the truth.
- Sabinus 3mo agoIt's more subtle than that. Trump says so many varied and contradicting things with extremely varying levels of seriousness that any voter could squint at what he said and done, read their hopes and dreams into it and then think he's not being serious about the rest.
- haunter 3mo agoIt'll trickle down any day now, can't wait to win!
- 1vuio0pswjnm7 3mo ago31 Jul 2026 18:35:53 UTC Gas Prices Soar While Big Oil Reaps $26.5B: Inside the 2026 Affordability Crisis https://bluepressjournal.substack.com/p/gas-prices-soar-while-big-oil-reaps https://bluepressjournal.substack.com/p/gas-prices-soar-whil... https://news.ycombinator.com/item?id=49126976 https://news.ycombinator.com/item?id=49126976 [dead]
- thelastgallon 3mo agoWhen oil prices spike, where does the money go?: https://theconversation.com/when-oil-prices-spike-where-does-the-money-go-280763 https://theconversation.com/when-oil-prices-spike-where-does... The immediate effect is more income from higher prices. The money largely goes to company owners – meaning shareholders – through dividends, debt reduction, company-backed purchases of its own stock, and reinvestment in drilling and production.