Saudi Aramco reports $42B quarterly profit | Hacker News Reader

Saudi Aramco reports $42B quarterly profit

ft.com

57 pointsmfiguiere29 comments

Dear prince MBS, do you require any f35s and cluster bombs to attack civilians with? Can we help you dismantle journalist's corpses? Please give us some money

Don't worry...he's already buying a lot - https://www.pbs.org/newshour/politics/u-s-approves-massive-a...

Must be nice having presidents be your salesman

The world needs 100 million barrels of oil a day.

Let’s stop blaming presidents, oil companies, countries with poor human rights.

The OPEC oil crisis was 50 years ago, and Americans still drive big cars and want cheap gas.

https://en.m.wikipedia.org/wiki/1973_oil_crisis

It seems just like yesterday when Carter warned Americans that we would run out of oil.

https://youtu.be/-tPePpMxJaA

I remember studying oil production 25 years ago in college and distinctly remember how oil production would peak in couple decades. Hilarious. It was right about one thing. Peak oil peaked.

> Americans still drive big cars and want cheap gas.

And any politician that don't acquise to these demands face the risk of losing their jobs.

I wouldn't want to live in a Xi-ocracy, but ha, maybe democracy isn't that great after all...

Don't blame the pushers and producers and profiteers and corrupt politicians who inhibit alternatives, and instead blame the 7.8 billion people who depend on petroleum products?

No thanks I think I'll keep laying the blame where it's due. Same as illegal drugs.

Of course he does. Yemen is to Saudi as Ukraine is to Russia.

All with our heartfelt support.

That’s twice the net income Apple reported last week ($20.7B)

Is that really surprising considering how much more useful petroleum is than Apple's products?

No. What's surprising in that people still pay for apples overpriced products.

https://archive.ph/aGWEx

Yeah, this happens when you gouge gas prices from 3.5 bucks to 7 bucks for a gallon (Bay Area reference)

That's your city and state gouging you, not Saudi Arabia

Hilarious that this gets downvoted meanwhile even the rest of the west coast is 1.50 cheaper, low 5s here in Seattle and the south east still has gas in the 3s. This isn't an opinion.

California is the undisputed champion of footgunning themselves then complaining loudly about how unfair it is.

Lol, wait till SF bumps prices up 50% because their commercial real estate money tree has withered away.

Massachusetts still under $4 too

Some is self inflicted, but not all. They have stricter fuel policies that reduce what can be imported, not enough made in state, and high gas taxes. But it’s also cut off by 2 mountain ranges, which means it gets the majority imported by boat through the panama canal, so it’s always going to be more than Texas.

Yes I do agree. I'm definitely not saying that there are no valid reasons for gas in SF to have price differences from gas in let's say Alabama or something, there definitely are

My gas in the Bay Area of California is $5 flat, while we breath cleaner air due to emissions regulations, so pot meet kettle...

The reactance you feel toward the government, most people feel toward the economic system.

FYI, this is primarily because of state / local tax. Prices are in the 3-4 range in most other states.

Yeah that's just incorrect, taxes only account for [1] $1.40

[1] https://www.cbs8.com/article/traffic/gas-prices/gap-between-...

You're aware there's a little thing on the gas pump showing you a breakdown of the taxes, right?

They haven't changed recently.

I've actually never noticed. How up to date are they? Do they already take into account local sales tax increases that happened October 1? Or the statewide excise tax increase from July? (I'm at 3/4 of a tank, otherwise I'd check myself).

This also happens when some people buy big SUVs instead of cars.

No it doesn't. If everyone owned an SUV but drove less and used public transportation we'd be on the right track. Getting everyone in cars is a losing battle.

How are they gouging? America does not import a lot of oil from Saudi Arabia. According to the EIA [1] Saudi Arabia's share of the US imports is 5%. Is Saudi Arabia supposed to sell below market price? What exactly should they do to not be guilty of "gouging" in your eyes? And do you think that if they do that, it would have any impact on the consumer, given their 5% share?

[1] https://www.eia.gov/tools/faqs/faq.php?id=727&t=6

Saudi Arabia is only gouging people in New Jersey $3.80 a gallon.

Wonder why we get a different price?

Funny how people don’t understand the world in which they live.

Give 1 to me please :)

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