![Talkin' about gas prices [828x855 - 100KB]](https://pic8.co/sh/sBbzsw.jpg){kind=link}
Most current I can find. I'm sure it's more now but would still miss the mark considerably, compared to what's displayed in the meme. With no sources from OP, the only way I could see that claim to possibly be true is if their wealth came from outside their employment. For example investments. I don't see how an oil executive making good investments would make them to blame for higher gas prices. Another possible way the first part of the meme is true is most executives own stock in the company they operate. Oil stocks being way up could explain the wealth increase. That being said I'm still highly sceptical the first part is true.
The second part of the meme sounds like a question, but ends with a period. I'm assuming the OP is retarded, and won't address that statement/question or what ever it is.
stock options
The analysis of major oil companies’ financials shows that 11 of the group gave payouts to shareholders worth more than $36.5bn collectively this year, while a dozen bought back $8bn-worth of stock. This apparent focus, rather than on further drilling, has caused some frustration within the federal government, with Jennifer Granholm, the US energy secretary, stating that “the oil and gas companies are not flipping the switch as quickly as the demand requires.”
https://www.theguardian.com/business/2021/dec/06/oil-companies-profits-exxon-chevron-shell-exclusive
Thank you for that. Stock options do make the most sense for why there is such a large gain in wealth. The real winners of the GameStop stock run up were not stock holders as much as those who had options. That being said I still agree with the other comments that oil companies are price takers not price makers. The only way oil companies can affect the price is by reducing oil production. This requires collusion across the different companies. Otherwise you'll loose out. Additionally I have seen first hand the effects of Biden pulling oil leases on federal lands. There is a handful of mostly developed fields in Alaska. The pipeline running to the rest of the oil network were about 6 weeks from completion. The day Biden took office everyone was laid off. The supply issues go much further than the keystone XL pipeline. Additionally oil companies wouldn't be spending billions on expansion if they were trying to reduce production.
(post is archived)