Why are the oil companies lying ??

Question

again: oil companies are posting obscene profits but are not planning to invest in drilling or building new refineries insteadt

bigger shareholder checks and buyback of outstanding shares this companies have a totally free hand of doing whatever they want to the american consumer must be brain

wahed to no end to take this garbage every one can tell rhat these companies are not up front

Answer 1

The government charges them a lot in taxes in fact here in the United States the government makes 18 cents a gallon on taxes alone and they want to raise that still.  The oil companies wont invest in drilling because the government wont put up any money and not finding oil could cost them millions of dollars.

Answer 2

If you feel this way, then buy shares in an oil company

You will find these obscene profits are less than you might thing relative to what other major corps make

Consider what a gallon of bottled water would cost

For a more practical review, watch the History Channel, National Ge, Discovery channels to see how much it costs to drill, starting with oil rig rental of nearly a million dollars day with no guarantee oil will be discovered

Answer 3

Because the world is already at peak oil output. Why build new facilities when the amount of oil available in the future is going to be lower? And so the shareholders and management can make tons more money.

Answer 4

why else

to get MONEY