correction-price hikes WILL NOT exempt us.
So the oil companies are conspiring against us? Are you a snowflake?
Oil is a commodity. Its price is set by the market, not by the oil companies.
Only stupid people think oil companies set the price and take advantage of consumers.
Sarah
Who??
“Windfall profits” is leftist babble. Absolutely nobody was bitching when oil prices were $10 - $15 a barrel in the 80s and these evil oil companies were taking it on the nose. I hope they make more money than the entire nation of France.
The Saudis put this country through the wringer intentionally TWICE for supporting Israel and our own government covered up the fact it was due to Saudis. During both “crises” the Brown SHirt Media repeatedly ran stories “Who can figure it out? This mystery?” when they knew it was the Saudis the whole time and wouldn’t print it. Screw the Saudis. This is the entire reason we have become independent of their oil.
So, what’s DIRTYSECRET’s dirty secret?
Anti-capitalist at heart?
Or do you just think that any business that shows good profits owes you a cut for just being you?
There is no reason to believe that the oil industry is immune form corruption.
1) Most of OPEC is not producing at capacity.
2) Many US wells have been drilled but capped, waiting for a better price.
3) We already have a greatly diminished Venezuelan output and practically nothing from Iran due to sanctions and prices have barely gone up.
There’s a ceiling on the price of a barrel of oil that wasn’t there just 3 years ago.
They are still keeping the 200 mpg carburetor off the market too. /s
“Windfall Profits”? You lost me there. The Dirty Secret is that the left has managed to indoctrinate the people that are too ingnorant or too lazy to find out the truth. What about the years that 90% of Oil Companies were wiped out because of overproduction (the Saudis opened the spigots up to control oil, which they did). Those companies never came back, and it took incredible ingenuity to prefect fracking to let the production rise again. Look at Oil Companies like farms. When the crops are plentiful, the price goes down. When they are scarce, the prices go up. Weather and politics controls everything. Simple enough? The government always sees the increased profits (which are put back into the ground for the most part with new exploration) as some kind of low hanging fruit. They can convince the great unwashed public that they are suffering because of that “bad man” oil company. I have been in the business for over 40 years and am getting tired of the crap. pick on microsoft for a change.
Do you get this theory for Michael Moore or Alex Jones?
Babble
Oil companies lost control of the oil market a long time ago. it is strictly a commodity now and the prices is set by the traders. The good years may outweigh the bad years but don’t always for every company.
Oil companies are price takers now just like any other commodity producer from copper to corn. They all make better than average profits some years and less than average profits a lot of years.
If you were self-employed you would be able to understand good business times vs. bad ones. It is simple supply and demand and not some vast conspiracy of profiteering.
Get out of the tin foil hat circuit.
1. Oil is a global commodity sold with global markets calling the shots, no matter what is the U.S. domestic production.
2. The COST of U.S. domestic production is about $73 a barrel on shore and about $57 off shore. The two biggest Middle East producers are Saudi Arabia and Iraq whose production costs are about $3 and $6 a barrel respectively.
3. Those facts, and the U.S. massive appetite for oil is why in spite of greater U.S. production we do (a) export more oil - some foreign markets are willing to pay more for our oil because we are closer than the Middle East and they have literally no oil at all of their own, and (b) still import about 50% of the oil consumed in the U.S.
There is no conspiracy. There are global markets and sometimes some big events can trigger market (supply/demand) changes that can be reflected in consumer price changes.
The oil companies are not a bogeyman.
Gas prices along with food prices affect millions of Americans daily. Not everyone has a great career with the big salary. Those living paycheck to paycheck would be really hurt by rising gas prices. And those folks are the ones who strongly support President Trump and voted him in office.