From a review of SEC filings, below are the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for these 43 Texas Oil & Gas Companies in each of the four quarters of both 2019 and 2018.
| US | US | US | US | US | US | US | US | ||||||||
| GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | ||||||||
| Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | ||||||||
| Income | Income | Income | Income | Income | Income | Income | Income | ||||||||
| Texas Oil & Gas Largest Companies | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |||||||
| Reporting Quarterly Earnings to the SEC | Dec | Dec | Sept | Sept | June | June | March | March | |||||||
| in All 4 Quarters of Both 2019 and 2018 | Texas | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | ||||||
| Market Caps > $2 Bil in Mid 2019 | City HQs | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2018 | 2017 | ||||||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Market Caps Above $10 Bil | |||||||||||||||
| Exxon Mobil | Irving | 6,414 | 8,121 | 4,721 | 9,080 | 4,632 | 6,512 | 4,289 | 7,240 | ||||||
| ConocoPhillips | Houston | 1,286 | 2,672 | 3,493 | 2,906 | 2,058 | 2,619 | 2,687 | 1,776 | ||||||
| Enterprise Products Partners LP | Houston | 1,134 | 1,331 | 1,060 | 1,346 | 1,246 | 706 | 1,293 | 917 | ||||||
| Schlumberger Ltd | Houston | 452 | 648 | (11,971) | 787 | 593 | 547 | 509 | 643 | ||||||
| EOG Resources | Houston | 831 | 1,088 | 797 | 1,446 | 1,089 | 893 | 827 | 813 | ||||||
| Kinder Morgan | Houston | 1,082 | 775 | 668 | 1,201 | 676 | (176) | 739 | 706 | ||||||
| Occidental Petroleum | Houston | (990) | 832 | (621) | 2,579 | 941 | 1,150 | 856 | 1,047 | ||||||
| Phillips 66 | Houston | 1,066 | 2,918 | 943 | 1,975 | 1,829 | 1,835 | 340 | 717 | ||||||
| Energy Transfer LP | Dallas | 1,331 | 850 | 1,215 | 1,341 | 1,242 | 727 | 1,306 | 716 | ||||||
| Valero Energy | San Antonio | 1,656 | 1,227 | 804 | 1,150 | 808 | 1,124 | 218 | 731 | ||||||
| Pioneer Natural Resources | Irving | 448 | 412 | 303 | 529 | (216) | 82 | 453 | 228 | ||||||
| Baker Hughes GE | Houston | 307 | 474 | 224 | 148 | 84 | 24 | 138 | (105) | ||||||
| Cheniere Energy Partners LP | Houston | 448 | 351 | 110 | 307 | 232 | 281 | 385 | 335 | ||||||
| Concho Resources | Midland | (600) | 1,891 | 780 | (268) | (150) | 177 | (889) | 1,089 | ||||||
| Halliburton | Houston | (1,837) | 458 | 372 | 534 | 151 | 633 | 192 | 189 | ||||||
| Plains All American Pipeline LP | Houston | 332 | 1,280 | 495 | 700 | 425 | 84 | 994 | 349 | ||||||
| Cheniere Energy Inc | Houston | 636 | 235 | (263) | 230 | 2 | 147 | 340 | 615 | ||||||
| Diamondback Energy | Midland | (596) | 391 | 490 | 203 | 458 | 294 | 10 | 225 | ||||||
| Marathon Oil | Houston | (3) | 406 | 175 | 357 | 193 | 140 | 27 | 524 | ||||||
| Cabot Oil & Gas | Houston | 207 | 325 | 116 | 162 | 236 | 55 | 341 | 157 | ||||||
| Noble Energy | Houston | (1,482) | (720) | 51 | 307 | 28 | 10 | (373) | 543 | ||||||
| Total 21 Cos With Market Caps Above $10 Bil | 12,122 | 25,965 | 3,962 | 27,020 | 16,557 | 17,864 | 14,682 | 19,455 | |||||||
| ….. % Change From Prior Year Qtr | -53% | -85% | -7% | -25% | |||||||||||
| Market Caps $5-10 Bil | |||||||||||||||
| Apache Corp | Houston | (3,035) | (344) | 14 | 406 | (152) | 508 | 165 | 388 | ||||||
| TechnipFMC PLC | Houston | (2,251) | (2,005) | (34) | 201 | 115 | 175 | 34 | 141 | ||||||
| Targa Resources | Houston | (93) | (120) | 28 | (15) | 46 | 154 | (28) | 48 | ||||||
| National Oilwell Varco | Houston | (431) | 41 | (189) | 33 | (5,757) | 30 | (85) | (63) | ||||||
| HollyFrontier | Dallas | 100 | 192 | 401 | 478 | 306 | 480 | 364 | 374 | ||||||
| Phillips 66 Partners LP | Houston | 255 | 223 | 238 | 217 | 234 | 186 | 199 | 174 | ||||||
| Texas Pacific Land Trust | Dallas | 91 | 78 | 75 | 63 | 63 | 66 | 176 | 55 | ||||||
| Parsley Energy | Austin | (35) | 82 | 175 | 167 | 168 | 174 | 129 | 57 | ||||||
| EnLink Midstream LLC | Dallas | (907) | (236) | 44 | 49 | 4 | 109 | (133) | 64 | ||||||
| Total 9 Cos With Market Caps of $5-10 Bil | (6,306) | (2,089) | 752 | 1,599 | (4,973) | 1,882 | 821 | 1,238 | |||||||
| ….. % Change From Prior Year Qtr | -202% | -53% | -364% | -34% | |||||||||||
| Market Caps $2-5 Bil | |||||||||||||||
| Shell Midstream Partners LP | Houston | 144 | 148 | 146 | 155 | 119 | 115 | 137 | 65 | ||||||
| CVR Energy | Sugar Land | 47 | 109 | 138 | 143 | 169 | 83 | 137 | 111 | ||||||
| Transocean Ltd | Houston | (79) | (133) | (771) | (439) | (169) | (1,054) | (179) | (149) | ||||||
| Black Stone Minerals LP | Houston | 40 | 164 | 70 | 61 | 95 | 29 | 9 | 42 | ||||||
| NuStar Energy LP | San Antonio | 80 | 44 | 54 | 46 | 48 | 30 | (277) | 130 | ||||||
| Holly Energy Partners LP | Dallas | 48 | 50 | 84 | 47 | 47 | 42 | 54 | 49 | ||||||
| TC Pipelines LP | Houston | 80 | (406) | 59 | 65 | 58 | 75 | 100 | 103 | ||||||
| Crestwood Equity Partners LP | Houston | 47 | 60 | 34 | (5) | 225 | (21) | 14 | 34 | ||||||
| Kosmos Energy Ltd | Dallas | (2) | 287 | 40 | (115) | 49 | (149) | (62) | (75) | ||||||
| Cactus | Houston | 41 | 44 | 48 | 52 | 52 | 46 | 47 | 28 | ||||||
| Apergy | The Woodlands | (11) | 28 | 13 | 33 | 30 | 31 | 29 | 31 | ||||||
| Patterson-UTI Energy | Houston | (109) | (223) | (326) | (92) | (60) | (19) | (35) | (34) | ||||||
| Core Laboratories NV | Houston | 17 | 14 | 28 | 32 | 24 | 30 | 13 | 29 | ||||||
| Total 13 Cos With Market Caps of $2-5 Bil | 343 | 186 | (383) | (17) | 687 | (762) | (13) | 364 | |||||||
| ….. % Change From Prior Year Qtr | 84% | -2153% | 190% | -104% | |||||||||||
| Total 43 Cos With Market Caps Above $2 Bil | 6,159 | 24,062 | 4,331 | 28,602 | 12,271 | 18,984 | 15,490 | 21,057 | |||||||
| ….. % Change From Prior Year Qtr | -74% | -85% | -35% | -26% | |||||||||||
Such incredibly horrible earnings in all of 2019 and especially in the two most recent quarters, coupled with the huge CoronaVirus Losses which will start hitting the books in 2020, signals future very unhealthy pay raises for the many already underpaid Texas Oil & Gas non-executive employees.
Texas Company non-executive workers really have had the deck stacked against them for decades versus what is going on with the sky-high annual percentage pay and employee benefit raises of their Companies' Top-Tier Executives.
So which 2020 Democratic Presidential candidate could best help close this massive annual percentage pay raise gap between Texas Company Top-Tier executives and their already massively underpaid, hardworking Texas non-executive employees?
More than anything needed to solve this thorny problem is to possess exceptionally strong financial and data science skills, coupled with a keen understanding of how businesses operate. And you also must have a high degree of economic fairness.
More than anything needed to solve this thorny problem is to possess exceptionally strong financial and data science skills, coupled with a keen understanding of how businesses operate. And you also must have a high degree of economic fairness.
Joe Biden, Bernie Sanders, Elizabeth Warren and Amy Klobuchar all have little if any financial acumen, no data science understanding and little if any understanding of how businesses operate in this fast-changing world.
Further, all four of them worked for the US Government, particularly in the past ten years, when these comparative pay raise results of Top-Tier Executives and non-executive employees were so horrendous, not just in Texas but also in every other US State.
On the positive side, all four of them have a high degree of economic fairness.
But he has no data science expertise.
Also and most important of all, Bloomberg has a low degree of economic fairness.
In the many years he was accumulating his wealth of $60+ bil, US income inequality expanded dramatically in each year by leaps and bounds.
So, like many US business tycoons with their sole fixation on maximization of Company profits, Bloomberg accumulated his massive wealth on the backs of the declining US middle class and growing number of people dropped to the lower economic class.
And while he was accumulating his massive amount of wealth, Bloomberg was strongly anti-union.
And by his punitively racial "Stop and Frisk" policy, many New York City people of color were singled out and physically thrown against the wall.
I think there is only one Democratic Presidential candidate who has the requisite financial acumen, data science skills, understanding of how business operate and economic fairness to help turn the tide around on this massive, continuing US income inequality expansion caused mainly by the massive gap in annual percentage pay raises between executive and non-executive employees ..... Pete Buttigieg.
