Thndr Claps » U.S. Claps » Energy 🔋 » ConocoPhillips enjoys fruitful Q3 🪨
The ClapConocoPhillips (NYSE: COP) recorded substantial profits of $4.5 billion, following in the footsteps of other energy producers like ExxonMobil, Shell, and BP.
The DeetsThe company increased its share buyback plan by $20 billion, now reaching $45 billion.
In addition to that, ConocoPhillips increased its dividends by 11%.
Now WhatThe Biden Administration is threatening to induce taxes on oil companies unless they reinvest most of these profits to ramp up production.
So WhatIncreased costs and limited supply both have a negative impact on production growth.
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