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Apple Loses Position as World's Most Valuable Company to Oil Giant Aramco
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oh what a surprise. A large number of countries have stopped buying oil from Russia due to what is going on in Easter Europe and have thus looked towards Saudi Arabia for their oil. It is nothing but purse greed, has nothing to do with supply and demand of how 'captialism works', it's all to do with 'I have something you want that you can no longer get from your usual source therefore I am going to raise my prices. You want it, your going to have to pay for it'. Greed, nothing more, nothing less.
Just because oil isn’t going anywhere soon doesn’t mean we should embrace it either. Oil production is tied to its price which will never go down much because it’s a based on a finite resource with a shrinking supply. All oil pricing right now is based on FUD and greed surrounding war. In order to keep that price from completely devastating the economy we need to lessen our dependence on it and embrace more sustainable sources. Nothing extreme about that, just basic economics.
I fail to see a distinction between greed and your definition of capitalism. Both are based upon FUD and both reward the wealthy by making them wealthier on the backs of the less wealthy.
Both Microsoft and Amazon leapfrogged Apple in market cap when the companies were in the 1-2TN range. This wasn’t long ago so we’re still watching that race.
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The technology simply doesn't exist to replace how we use oil right now which is the issue. Aviation and transportation (trucks/ships especially) are many decades away from not being dependant on oil - so there's that.
And replacing the worlds ships, trucks and vans globally with affordable electric/alternative variants just isn't going to happen during our lifetime.
I just look at things realistically so our dependency on oil is as strong as ever with no immediate change for at least a generation or two.
There's a lot of money to be made for those that come up with the best ways to make us less dependant so I am sure there's no end of people working tirelessly on ideas and concepts.
We'll get there one day....
Moving Russian business to theirs. Nuclear reactors being shut down without enough green alternatives in place. Lots of industries burn oil and gas for production processes where flames are needed and activities have risen after COVID seems over. …
Not really. Oil was already going up before the war and sanctions started. The war did cause a brief additional spike in the price of oil, but that has largely reversed now and the price is back to it’s pre-war trajectory. At least as of this moment.
Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER BARREL | Markets Insider
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It was inevitable, given how the oil giants are jacking-up gas prices.
Attention oil robber-barons: we’re an angry mob and we’re coming for you with pitchforks and torches and junk. Like in an old Frankenstein movie (I’m not talking Young Frankenstein, either.)
Attention oil robber-barons: we’re an angry mob and we’re coming for you with pitchforks and torches and junk. Like in an old Frankenstein movie (I’m not talking Young Frankenstein, either.)
That depends on which market you are talking about. Possibly the most extreme example is Norway, where the 2021 market share of electric vehicles was 64%. In the US that number was about 1.8%. Norway has pledged to ban the sales of cars that run on fossil fules by 2025 and the use of fossil fuels in aircraft by 2040.
By temporary situation, you mean until the war ends, which might not happen anytime soon and might easily take five years or even a decade.
If no one is buying from Russia and they want all their oil from Saudi Arabia, then it is supply & demand, for Aramco at least.
Microsoft beat Apple in valuation just last October. There was a story about it here at Mac Rumors.
So why is gas so expensive? PROFIT!!! It's GOUGING the people. If they could only figure out a way to charge for air.
We all need gas, petroleum, for so many things. It's a necessity. Gas Extortion has happened so often, PLUS Memorial Day is coming. Gas usually pops up 5 to 20 cents a gallon before that weekend because they can! CHA-CHING...
We all need gas, petroleum, for so many things. It's a necessity. Gas Extortion has happened so often, PLUS Memorial Day is coming. Gas usually pops up 5 to 20 cents a gallon before that weekend because they can! CHA-CHING...
Most people done realize that oil is much more than petroleum fuel for vehicles and power plants. We make plastics and other synthetics from the components of crude oil.
Plastics have replaced many sustainable glass solutions that require more manual maintenance in so many different sectors.
Look at medical waste for example. How many prefilled plastic syringes are used every day just to flush an IV port. Those plastics are disposed of every day and the volume of them is astounding.
The value of oil will only ever continue to rise. It’s a precious commodity that we cannot sustain modern life without. Not as we know it today.
The products Apple manufactures are of limited long term interest by comparison. It’s been a nice time. A great fad to follow and I do thoroughly enjoy their products. But they have limited appeal over time and will be replaced by anything more utilitarian that gives a similar experience.
Once the flaws in the design are exposed… and developers start to jump ship for platforms like Android then it will be a rapid decline. Such is the nature of economics.
I don’t believe Apple can pull a gimmicky rabbit out of its hat fast enough to entirely avoid this.
And if you don’t wish to consider this fact. Just look at the general corporate direction. Losing key staff over silly disagreements on remote work vs in person work. Apple of all companies should be supportive of this. Screw the campus and focus on improving product development. Make the devices like the iPad useful.
Yeah. I just don’t see a lot of long term planning at play here. Just more of the same as has been done and the gimmicks are getting rather old.
TheYayAreaLiving 🎗️
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All the oil companies will be taking over in the near future. The gas prices have not come down a bit.
Plastics plastics plastics. Polymers. Synthetics.
Lubricants.
Even “synthetic” oil…. Which is a thing. Requires base components from crude to synthesize it. It’s just chemistry and the science we know today.
Every single damn product on the face of the planet is dependent on these elements even if only for human interface and so on.
Glass is rigid and fragile. It’s not as quickly synthesized and many other things close to it like acrylics even still are just variations on the same chemistry. Requiring base components from crude oil and similar limited natural resources to produce.
It’s really and elusively hidden true cost of oil. And we get plastics for “cheap” right now because of this fight over the energy component. We are kinda screwed one way or the other as far as oil is concerned. Even if we move to entirely electric energy sources and even renewable supplies. We don’t yet have the technology in place to make molecular synthesis of such polymers from scratch. That’s literally Star Trek level of tech LOL. Doesn’t exist.
We can do some stuff. Somewhat like alchemists. Transforming tiny tiny fragments of material from one molecular / atomic composition to another. But the yield on production vs the cost to do so is beyond anything even remotely close to reasonable.
I genuinely worry about the polymer situation. We truly have no alternatives in place to address this.
Yes, that's correct. It might take years, even a decade. I realise the word ‘temporary’ might be interpreted as short term (English is only my third language, so my word choice might not always be accurate). But nonetheless, the war is a factor at this moment, which comes on top of two years of lower supply due to the pandemic. However, as we move on to renewable energy, oil will be less and less relevant. But yes, it's going to take a while.
Lol. I wish I was more greedy. No matter how greedy I try to be my boss only pays me a little above the market demand for my skills. But maybe some day I will become super greedy and suddenly I will unlock that magic power of making up value. I can only hope.
Weird….most electric cars run on electricity from oil and gas. So that’s a funny goal.
ironic...oil price is rising and companies say its because of costs, but if they are rising, why are their profits rising more and not the same as before the rise of those costs. Just goes to show these oil companies and others as well use the costs excuse.