Did you see Oxy stock today! Management has brought Oxy back!
16 replies (most recent on top)
Taxes are passed on in the form of higher prices since the industry will curtail investment in new projects lowering supply causing prices to rise. Thus the industry will produce less, and pay less in taxes. Who pays more - the consumer.
No, taxes are not passed on if the producers pay the tax. The oil price is determined by the world market supply and demand. The windfall profits tax takes away profits from the upstream. The worst thing for oil producers to claim at this time is their intent to buy back shares.
Taxes are just passed on as higher prices. It’s self defeating.
@7ojh+1fAu9Nwo People do fall for it and that is a shame. The current admin uses any excuse not to own it. This is all owned by them, and they don't care if oil is 200.00 a barrel. They think that is an incentive to get people to buy electric cars. They will watch it all burn to the ground before admitting they are wrong in the way they are going about getting a greener environment. The green narrative is the center piece of their admin and every single thing from race to fuel centers around their green environment. We all want a healthy environment and there are many better ways to go about it than they are. Now there is talk about a special tax on the bad oil companies. All those taxes on our industry affect the bottom line and in turn bonuses and pay raises. Just look at the recent cancellation by a Federal Judge of the GOM lease sale. All that money Oxy and others spent to work the sale and get their bids just up in smoke.
Taking the package was one of the best decision I ever made. Selling or keeping the stock, and taking the package are separate unrelated decisions.
The price of oil was already high and going higher too. “Blame it on Russia” is just the latest excuse for inflation. Let’s see, first it was “just transitory”, then it was “inflation is good” (my favorite). After that it was corporate greed. Now it’s Russia, Russia, Russia. Is anyone falling for that?
The only reason Oxy VSP people got hosed is due to their own poor decision in taking the package. They didn’t have to.
Thank the geopolitical situation... Not Oxy management. As for retirees getting hosed...I am happy with the cash I left with...No regrets.
@1ini is Karma Troll. Is Oxy stock and earnings shooting up the “karma” you were always talking about?
Good times in the oil patch.
Well in a way you could say they hosed themselves if they kept their stock, but it went down so fast due to the APC acquisition and Covid that it might have been hard to pull the plug. I am just glad they have a chance to get out in top now for those that held. Also, for the person below talking about taking advantage if the Ukraine tragedy. The stock was going up well before that based on the current admins reluctance to drill in the USA. For sure the price got a boost from the Russian invasion, but the stock was doing fine before that based in policy, and a shortage of inventory.
Retiree and VSP folks got hosed? LOL! How did they get hosed?
I just hope all those hanging in to the stock are able to get a good price now. There were a lot of retiree and vsp folks that got hosed, and now hopefully they can get out with little pain.
Oxy mo--n, uncle Warren brought Oxy back!
Are you joking that management brought Oxy back? It was all because of oil prices increasing.
Da. Pravda.
Lol.