I am talking about this mass up with Iran….will it be another 20 year debacle?
What is driving this continuation is the price of oil….the profits are skyrocketing…..with every failed ‘deal’ more profits are made…..with every rocket the CEOs are jacking off in the corner.
Here is what is happening as of today…..
U.S. official said that Israel, which has been deeply skeptical about Hamas’ willingness to give up its guns or relinquish at least behind-the-scenes control of Gaza, had been consulted at every step of the negotiation. However, the official said Israel was not being asked to do anything more than what it had initially committed to when it agreed to Trump’s 20-point plan, which essentially involves withdrawing its forces from Gaza and committing to ending airstrikes on the territory. Israel’s UN mission said it had no immediate comment.
The attacks between the US and Iran resulted in huge profits for some of the biggest publicly traded oil companies as they sold their goods for higher prices. Exxon Mobil on Friday reported doubling its second-quarter profits to $14.53 billion, up 105% from the same time a year ago. The oil giant, based in Spring, Texas, brought in $116.02 billion in revenue, up 42% from the same time last year. Chevron, based in Houston, nearly quadrupled its profits to $12.07 billion, up 385% from the same quarter last year, and reported $70.06 billion in revenue, up 56% from the same time last year.
Six of Europe’s largest oil companies posted first-quarter profits of $22 billion altogether, a total which was 43% higher than the same time last year, according to nonprofit Global Witness. “There are constituencies around the world who are having a very good crisis, and the oil producers are one of them,” said Patrick Galey, fossil fuels lead at Global Witness. “When you compare that to the hundreds of millions of people who are struggling with rolling blackouts, with electricity curbs, rationing, waiting in line for food queues … we don’t think that it’s a justifiable price for the rest of the world to be paying.” The average price for a gallon of regular gasoline in the US, which was below $3 before the Iran war, reached $4.11 Friday.
Energy companies such as Exxon and Chevron do not set the price of American oil, which ricocheted from $68 to $115 a barrel during the quarter. It’s driven by supply and demand, and what traders, refiners, and other buyers are willing to pay. Nevertheless, Democrats in Congress introduced bills in March to tax major oil producers for profits they show from 2026 onward and have the tax proceeds redistributed to consumers. “It’s fair to put a windfall profits tax on inordinate windfall profits rather than cut off children’s food programs,” Sen. Sheldon Whitehouse, a Rhode Island Democrat who introduced the Senate version of the legislation. Whitehouse’s measure and a companion bill introduced by Rep. Ro Khanna of California would amend the US tax code to impose a per-barrel excise tax on companies that produced or imported at least 300,000 barrels of oil per day in 2025. The tax would be 50% of the difference between the oil price at the time of the levy and the average price per barrel last year. Similar proposals failed to pass in previous years.
Donny’s war is making hguge profits for the oil people, making corpses from the attacks and making the rest of us suffer from Donny’s hubris.
Is this what America stands for now?
I nauseated just thinking about Donny’s plan for this country.
I Read, I Write, You Know
“lego ergo scribo”
Believe!
John I know how this works….and it is stupid. chuq
It sadly is what America stands for now. Insider trading on oil and profits for the MIC by killing people, including its own military. The mighty USA has sunk to this, and I am reminded of the fall of The Roman Empire.
Best wishes, Pete.
I remember the slogan from my younger days….war is good business…..always a true statement….chuq