Easy pickings for Big Oil

Just came across this article noting that Shell has picked up on a bumper deal for some Russian oil.

www.energyvoice.com...

Now this is clearly going against the trend of boycotting Russia. But is that all too convenient that oil companies can now buy oil at $28.45 a barrel. I've never seen prices high than they are now in the UK. A Shell petrol station was selling diesel at 168.99p as of yesterday and that is town center one. I saw BP at 175.99p at a motorway services.

Will these bumper deals result in a reduction of price in these hard times or just more profits?

As mentioned, it's quite convenient and while capitalism is not illegal I doubt this will reflect in the price at the pump.

Anyone seen other examples if this?

They bought around 100,000 tons or more of crude oil. It made news here in Asia. But I now wonder how much crude oil China is going to buy since the dollar is doing good in Hong Kong.

Like its been said " War is a Racket ", and as a Veteran of a foreign war, I am sadden that there could be a very " dark truth " to that statement.

But also note that Shell will share some profits for the needs of the Ukrainians . If so I hope they set up their own organization for the middleman doesn't get a cut off the top.

The usa only gets 6% of oil from Russia. The only reason I could find that uncle Joe says prices are high is because of Russia. So gas went up a dollar in the last month cuz of that? I'm no mathamagian(lol) but that doesn't seem to add up

a reply to: MuldersMate

I paid over 2€ on Friday for Aral Ultimate. Left over 100€ at the gas station for 50L.

The fuel price and planned economic crash is also slowly killing my business. Nobody can afford a car that consumes more with prices over 2€/L and even those that could, can't because parts are missing.

Soon people start to bolt extra locks on their fuel tanks.

a reply to: ThatDamnDuckAgain
It's just an awful run down effect. My plumbing business has to charge more for gas to get to the house..more for the plumbing parts to come in... More for the workers for them to get there.. This is terrible.
And all because of a 6% decrease? We are screwed. All part of the plan

Our gas here is nearing 197 yen a little. Maybe 8 bucks a gallon.

a reply to: 5ofineed5aladder

Here it went from 1,50€ to 2€ in 6 month.

I am sure that the oil companies buying this under twenty nine and selling it to the oil speculators for thirty five will make them a little profit, but then the speculators bring it up over a hundred bucks a barrel and then sell it back to the oil companies to process...all just paperwork. Then the oil companies process the oil and all the profits go to the rich that invest in speculation...which many of the CEOS and heads of the oil companies invest in along with politicians and many other rich people.

That is how things work...unless there is a natural disaster which makes the oil companies boost the cost from thirty five to maybe thirty eight bucks. Oil Stock holders will gain some extra profits off of saving money on buying cheap oil though, and many CEOs and high ranking company people will capitalize on this too.

The worst thing in this country that happened in energy was to deregulate the fuels, it created many richer rich people. I remember when that happened, when gas was about thirty some cents a gallon before speculation caused big increases to occur five or so years after it happened.