This oil refiner is cutting 1,100 jobs — and giving billions of dollars to its shareholders

Phillips 66 is cutting at least 1,100 jobs by the end of this year as the refining giant seeks to slash costs and steer a larger chunk of its soaring profits to shareholders.

           

https://www.facebook.com/cnn/posts/10163133643641509

Oddvar Johan Martinsen I said nothing of that sort. What I’m saying is that just because the permits exist doesn’t mean the federal government can stop the actual drilling from happening once exploration is complete. That’s been happening already and with Biden’s promise the other night of no more drilling why would the oil companies spend money on exploration? Again there is sooo much more to the process then just having a permit and getting to drilling. There is endless red tape involved along the way as well as billions in investments. Why would oil companies bother when they know fossil fuels will be dead soon as the dems put it? The emptying of the SPR to lower prices for the election has also manipulated the oil market negatively and has driven OPEC+ to reduce production by 2 million barrels a day.


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So I am writing this commet to you all at CNN because we weere watching you news cast covering the elections yesterday 11-8-22. We were so dissappointed that your commentators had no qualms, or common decency when they bad mouthed Republican candidates. This is why we usually don't watch the news as it is mostly biased toward the Democratic way of viewing. I had always thought that the news people were supposed to be unbiased and report the truth. If your commentators have such strong opnions then they should only be able to express them on a "stated opinion piece". No wonder there are so many confused and misled these days. Wanting more moral and friendly news.


And there you have it. The rich man takes from the working class. The working class that word their a— off for the rich man. Karma will follow. See God owns the oil and gas. God let’s us use it for bettering our lives. Shareholders should give some of the profits back to the working man. Have honor and respect for the working man. Remember without them you have no profits. We all are giving you shame. Hope you can live with your self. Because in the end you leave the earth in a box. People can’t eat but your counting your piles of money in your million dollar homes.


Jared Purgatorio these companies are price gouging-- they are experiencing record profits. And so -- they are laying off workers right before Christmas? Figures.
Climate change is the driving force to get off fossil fuels as our primary energy source.
And as for corruption-- measures clearly need to be placed to prevent that. But, as we have seen, when the Ds tried to pass a law preventing price gouging at the pump, the Rs blocked it. So, I guess it depends on the quality of representatives and senators we elect. And judging from the likes of Walker, Boebert and Green, I won't hold my breath.


Jared Purgatorio So you want US to pay for the infrastructure and exploration of the oil and gas who might be in the ground also - so the Oil companies can get even more profit

Do you even know how ridiculous it sound?.. Because that is why you generally is saying, when you claim it will cost millions for the oil companies to build infrastructure. OF COURSE IT COST money to build infrastructure - but when you can present a double and tripple digit Billion dollar profit - and pay zero in taxes is there more than enough money to infrastructure if oil companies bother to use the permits they have


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Phillips isn’t making as much as the liberal propaganda machine are claiming. The company didn’t cut those jobs because they are making so much money, they cut those jobs because with pedo joes failure in buying more oil from opec they aren’t able to produce enough gas and diesel to sell. I know a Phillips 66 distributor and he said branded Phillips fuels are really hard to get right now especially diesel because they aren’t able to secure enough oil to produce the fuel. CNN should at least tell part of the truth instead of lying from start to finish




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