supply shortage or profiteering?

BP profits soar as calls for windfall tax grow - BBC News

BP's profits for the first three months of this year have more than doubled after oil and gas prices soared.
The energy giant reported an underlying profit of $6.2bn compared to $2.6bn in the same period last year - ahead of expectations.

Oil was also at $50/bbl in Jan '21, and everyone was seriously trimming the fat. Oil was at $105/bbl in Jan '22, while everyone was still operating on reduced budgets.

To answer the OP, I don't have much of a choice. The 4Runner is all I own, so unless someone is providing me a new Corolla GR or at a new more fuel efficient Toyota for free; it's what I have to drive.

The days of buying an ol' 90's or early 2000's Corolla/Camry for dirty cheap to run as a daily driver are kind of behind us.

Shell profits nearly triple as oil prices surge - BBC News

What was their profit as a percentage of total revenue? People got up in arms when the airline I used to work for posted a billion dollar profit one year. ~8 percent is typically considered a reasonable profit; total revenue was $22 billion so the airline made about half that 8% figure yet people brayed like scalded donkeys. They hear a big number and instantly think it’s profiteering or price gouging.

I seldom quote myself but I looked up BP's 2021 results - ~$13 billion profit on revenues of ~$158 billion, so about 8% profit. Clearly not "profiteering." Always pays to do the math.

Another example is comparing the 1 million+ US COVID-19 deaths to the ~600,000 fatalities America suffered in the 1918 flu pandemic. "My God, COVID has killed 400,000 more Americans!" Well, yes, but the 1918 US population was 1/3 of what it is today. The death rate is far less for COVID, about .15% to about .64% for the 1918 flu. That is not to minimize anyone's loss, each one of which was an irreplaceable human soul.

Ironically, as you read this, someone somewhere is probably paying $7K over sticker for a Toyota.

@Bluesky 07 I found very different numbers from a quick google.

Macrotrends reports.
BP gross profit for the twelve months ending March 31, 2022 was $46.328B
BP revenue for the twelve months ending March 31, 2022 was $178.923B.
BP annual gross profit for 2019 was $49.582B,
BP annual revenue for 2019 was $282.616B
So by that site they are making roughly the same profit on less revenue - which would indicate that what that article says is true.

Another site (companiesmarketcap) says this: According to BP's latest financial reports the company's current earnings (TTM) are $17.93 B. In 2020 the company made an earning of -$21.78 B a decrease over its 2019 earnings that were of $11.64 B.

By that site I'm guessing they used 2020 to write off a ton of debt and show a loss, but ignoring those two numbers, their earnings are 6billion over what they made in 2019 before the pandemic.

Any organization shown to be engaging in unfair tactics or profiteering should be held accountable. My point was more a general one of how people hear a huge profit number and go off without considering it in context. Speaking of context, few people cry for companies when they lose billions. For example, the airline industry as a whole lost more money after 9/11 than had ever been made in the history of commercial aviation.

Granted, whoever said that the "best way to make a small fortune in aviation is to start with a large one" is right. It's a tough business. That billion-dollar profit people were upset with will get you about 5 modern airliners at today's prices.

Personally I'm more concerned with things like golden parachutes for failing at your job, extravagant CEO pay, buybacks at the cost of workers, and things like that than general profit... until that profit comes at the cost of society, which in my view, what we're seeing for current oil and gas profit does.

Finally got my 4Runner down near empty and filled up with non-ethanol gas. $4.99gal. Will be interesting to feel/hear the slight difference. As an aside, I predate ethanol gas, catalytic converters, and non-leaded gas.

Are we, as a nation, better off after these so-called improvements mechanically wise? I'm unconvinced, but I never lived in a huge city with smog so I'm a little biased. What I do know for sure is that my 2-stroke engines do not like corn syrup.

That’s only $0.50 more than 87 here in Denver. Might be worth it.

I can say now that my 4Runner runs much smoother. Not sure about any MPG gains, possibly just a hair more HP/acceleration. The thing I notice most is the engine not making a slight tinging sound with stock unleaded.

I did one better and got a car that takes premium gas but has about 27mpg. Working on selling the runner now sadly as a 3rd gen with its 16mpg and 12 gallon tank just arent cutting it anymore

saw a headline today stating that JP morgan projects gas to hit average of 6 per gallon by august.

link?
does it go into JP Morgan's analysis and detail why?