@DA_Stockman (2026-08-07) says global oil profits are "highly cyclical" but that…

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DA_Stockman argues global oil profits remain highly cyclical but that the recent peak is driven by "Trumpety's" war on Iran; he says including 2020 shows these swings happen within a roughly 105 million-barrel-per-day market, condemns taxpayer bailouts for Wall Street and Detroit's Big Three, and cites Steve Rattner that oil profits more than doubled in one year to the third-highest level while US gas prices rise.

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Adding 2020 to the profit graph, DA_Stockman argues, shows oil's rises and falls occur within a roughly 105 million barrels-per-day global petroleum liquids market.

DA_Stockman condemns taxpayer bailouts for Wall Street and the "incompetents" running Detroit's Big Three and cites Steve Rattner's claim that oil industry profits more than doubled in one year, reaching the third-highest level in history amid rising US gas prices and inflation.

Right. Global oil profits are highly cyclical, and, yes, this latest peak would not have happened without Trumpety's idiotic war on Iran. Then, again, when you add one more year (2020) to your graph, you can see that what goes up with Big Oil also goes down in the context of a 105 million barrel per day global market for petroleum liquids.

It's only Wall Street and the incompetents who run the Big Three auto companies in Detroit who get bailed out by the taxpayers. Just saying....

Steve Rattner (@SteveRattner)

While Americans struggle with rising gas prices and inflation, big oil is making billions from the Iran War.

Oil industry profits have more than doubled in just a year, reaching their third highest level in history.

— https://nitter.net/SteveRattner/status/2084286340900819257#m

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