The Dems vs. Big Oil....FINALLY!!!

[Phoenix68]

The Dems vs. Big Oil....FINALLY!!!
March 17, 2022
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"Senate Majority Leader Chuck Schumer said Wednesday his chamber would call big oil and gas executives to testify. He wants to know why the companies are enabling greater corporate stock buybacks rather than taking steps to cut the price of gas at the pump.

He added, “The CEOs of large oil and gas companies should be advised they’ll have to provide answers before the Senate very soon.”

 

[Phoenix68]

This is supposed to display the "magic" of Capitali$m, huh??
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Big Oil Can't Just Drill More
March 19, 2022
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"The biggest factor for U.S. oil producers may simply be fear.

Over the last decade, U.S. oil production saw tremendous growth. But when prices crashed in 2014, investors lost big money. Oil prices are notoriously volatile, with the industry often suffering from boom-and-bust cycles.

But in the last few years, investors have been making clear to oil producers that they should not sink money into additional drilling in pursuit of the next oil boom. Instead, they want companies to pay back investors.

Exploration and production companies have responded by recording explosive dividend growth. According to the Morningstar U.S. Market Index, the average dividend in dollars per share has grown from $14 in 2018 to $40 in 2021, an increase of more than 180%.

"Energy companies were very afraid to ramp production because they were going to get punished by investors," said Morris, of data provider Alerian.

And it's those same investors that may now prevent oil companies from boosting production too much, even as others push for a "drill, baby, drill" approach."