Why do oil companies need the profits they are making?

Question

I have to assume that they need the money or that it is being funnelled or that oil is being saved for some large event and that is why the price is driving up so fast. I mean, these people who are executives of oil companies are not that heartless. These are human beings just like me, and they have to realize that if they take too much from people, if people die because they cannot afford to live, people who have been used to the oil that can be delivered to them.....that the spirit of those people who become oppressed and feel righteous indignation, will rebel spiritually to the extent that in their next lives, the offenders, the oppressors will pay a dear price in that existence! Each of us is aware that there is ego equilibrium at some point in nature, especially the rich who have had much more time to think about it.

So, I have to ask myself, "What do they need the money or the extra stored oil for?". I have my ideas. Let me hear yours!

Answer 1

There is only a limited amount of oil in the world.

Eventually, the oil will run out and when this happens the oil companies will be out of business or they well need to have transitioned to another energy source.

Since the demand for oil has skyrocketed around the world, the amount of oil sold has increased dramatically. So the reason oil companies are making higher profits is because more of it is being sold in a shorter period of time.

In other words, if you sell two cars in one month instead of one, you will have twice the profit. But does that mean you should have to give away the profit from the second car? Of course not.

This means that oil reserves are being depleted at a faster rate.

So oil companies need these profits to accelerate research into advanced refining or mining techniques or alternative energy sources so that they can plan to stay in business when the oil is gone sooner than anyone expects.