Originally Posted by BWalker
Originally Posted by JGRaider
Originally Posted by EdM
HOUSTON, Dec 1 (Reuters) - Exxon Mobil (XOM.N) on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected investment rate for two years.

The top U.S. energy producer slashed costs after a historic $22.4 billion loss last year. But an oil-price rebound this year has generated strong profits that let Exxon pay down debt, maintain its dividend and fund a new low-carbon business. The budgets extend a plan Exxon set to spend about $16 billion this year and thereafter increase outlays to between $20 billion and $25 billion to 2025.

https://www.reuters.com/markets/us/...lion-25-billion-through-2027-2021-12-01/


Facts are a hard pill for some to swallow EdM.
Not to pile on, but no one was complaining pre 2020 when oil companies where going bankrupt left and right.
I work in refining and our refinery alone lost 100 million in 2020.
People can't wrap their minds around how expensive exploration, production and refining actually are and as a result oil company margins are not that great.

Right on BWalker.

It is irrelevant what you think. What matters is the TRUTH.