Posted on Jan 22, 2022
Biden Fed nominee says regulators should push to 'allocate capital' away from fossil fuels
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Do we need this kind of person in a position of responsibility? The cost of energy is the leading cause of our current inflation and is being caused by President Biden's anti gas/oil policies plain and simple.
Biden Fed nominee says regulators should push to 'allocate capital' away from fossil fuels
Posted from foxbusiness.comPosted in these groups: Federal Reserve Board
Office of the President (POTUS)
Policy
Economy
Joe Biden
Office of the President (POTUS) Policy Economy Joe Biden
Posted >1 y ago
Responses: 3
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ExxonMobil is basically bankrupt; they need to charge what they charge for oil so that they can pay their shareholders a return. Why should WE the taxpayer foot the bill for very poor financial management? The more "renewable" sources of energy that are made available will make oil more expensive-that isn't Joe's fault if you don't want to switch. The oil industry isn't going to create any more jobs, drilling for oil has become automated and Oil refineries have few employees. Maintenance is conducted by third party companies, and yet WE the taxpayer are just subsidizing CEO's and stockholders. The energy sector has had decades to figure renewables...the rest of us are more than willing to move along.
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PO2 Joseph Chantiny
Maj John Bell - Exxon Mobil's Debt According to the Exxon Mobil's most recent financial statement as reported on November 4, 2020, total debt is at $68.80 billion, with $46.89 billion in long-term debt and $21.91 billion in current debt. Adjusting for $8.83 billion in cash-equivalents, the company has a net debt of $59.97 billion.
https://www.macrotrends.net/stocks/charts/XOM/exxon/debt-equity-ratio
https://www.macrotrends.net/stocks/charts/XOM/exxon/debt-equity-ratio
Exxon Debt to Equity Ratio 2006-2021 | XOM
Current and historical debt to equity ratio values for Exxon (XOM) over the last 10 years. The debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity. Exxon debt/equity for the three months ending September 30, 2021 was 0.26.
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PO2 Joseph Chantiny
Maj John Bell - I don't "figure" anything-this is publicly provided...just like the nation's debts. buh bye
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Maj John Bell
PO2 Joseph Chantiny - I don't think you understand free market capitalism. Debt doesn't equal bankruptcy. A company isn't in financial trouble if it can cover its debt service, continue normal operations and turn a profit. By your definition 485 of the S&P 500 are "basically bankrupt."
Would you say that an individual who pan pay his consumer debt; daily, weekly and monthly debt is "basically bankrupt?" They aren't.
https://www.cnbc.com/2012/01/25/15-Companies-with-Zero-Debt.html
Would you say that an individual who pan pay his consumer debt; daily, weekly and monthly debt is "basically bankrupt?" They aren't.
https://www.cnbc.com/2012/01/25/15-Companies-with-Zero-Debt.html
Throughout the financial crisis, large debt loads weighed on company balance sheets and had serious implications for the firms that let their borrowing get out of control. Other companies, however, have a history of operating with low debt levels, and many choose to issue no debt at all.
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PO2 Joseph Chantiny
Maj John Bell - Major, why it no okay for our nation to be deeply indebted? I don't think you understand $profit ...stop using EBITA to invest money. Exxon will never be able to manage this debt...and if they do YOU WILL be paying $8/ gallon for gas. They are not good stewards of US strategic assets.
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