Biden tells us to expect high gas prices until Russia is defeated.

Since Russia is selling their oil unimpeded to China and India the Ukraine War oil cost ismostly bullshit speculation.    Not uncommon...and its also not related to the price of refined gas at the pump.    Refineries  reduced their output  levels  during COVID - some shutting down alltogether.  

 

Likely what you will see in the near future is crude oil supplies piling up in storage facilities which will make the cost of that commodity plummet....but gasoline prices will still stay high because of the refining issue. 

 

You can send all the money to Zelensky you want and that dynamic wont change.    But speaking of the war - isnt it nice that we have a president thats willing to help a democracy fight Putin without demanding a personal favor in return?    

Originally posted by: Boilerman

Wow, this is a great idea.  Raise taxes, oil companies will raise gasoline prices, the government will return the tax dollars which oil companies already included in the price of gas.  Of course, the government will charge it's  normal 25% for administration costs.  It's a net loser.

 

Kevin keeps searching for more ways to convince American oil companies to walk away from domestic production in favor of more friendly offshore business climates.  Of course, Kevin always whines about the results of the policies that he endorses.


And if the oil companies raise prices, they'll make greater profits, which will be immediately taxed away and returned to the people. And in doing so, they'll reduce demand, which will negatively affect their bottom line. So if punished appropriately by high marginal taxation, they won't gouge.

 

Obviously, the fossil fuel slaves in Congress won't let that happen if they can avoid it. The RepubliQ thrives on those big big checks the fossil fuel companies send them, which are financed by you and me forking over our incomes at the pump.

 

Boiler enjoys that state of affairs. Most Americans don't.

There is one and only one logical solution to our problem.  Produce more oil and gas within the United States.  Produce so much oil, we again export substantial volumes.  Produce more natural gas so electricity prices drop.

Originally posted by: Kevin Lewis

And if the oil companies raise prices, they'll make greater profits, which will be immediately taxed away and returned to the people. And in doing so, they'll reduce demand, which will negatively affect their bottom line. So if punished appropriately by high marginal taxation, they won't gouge.

 

Obviously, the fossil fuel slaves in Congress won't let that happen if they can avoid it. The RepubliQ thrives on those big big checks the fossil fuel companies send them, which are financed by you and me forking over our incomes at the pump.

 

Boiler enjoys that state of affairs. Most Americans don't.


Kevin is once again whining about the ramification of government policy which he supports.  How Liberal of him.


Originally posted by: Boilerman

Kevin is once again whining about the ramification of government policy which he supports.  How Liberal of him.


The fossil fuel companies aren't constrained in any way by government policies--they can charge whatever they want.

 

Of cours, Boiler thinks that they call Biden every morning and nervously ask him what price they can ask for gas. How Con of him.

Oil companies can't simply raise prices at their whim because there are thousands of competitors in this business.  Kevin, you were a business owner and your business went belly up.  Why didn't you simply raise your prices?

 

Once again, is 7.2% return on assets too much, as that's what Exxon earned the past 12 months?  Exxon's profit numbers sound large, but they have 1/3 of a trillion dollars invested.  I'm certain that Kevin can't grasp this concept?  He hears large profits and doesn't consider the investment made.  Exxon has averaged about 2% return on assets the past 48 months.

 

Kevin, you should really do some research before you whine.

Edited on Jul 4, 2022 12:32pm

Kevin doesn't know the first thing about how to run a business.  No more than Toad knows what a spreadsheet is.  

Originally posted by: Boilerman

Oil companies can't simply raise prices at their whim because there are thousands of competitors in this business.  Kevin, you were a business owner and your business went belly up.  Why didn't you simply raise your prices?

 

Once again, is 7.2% return on assets too much, as that's what Exxon earned the past 12 months?  Exxon's profit numbers sound large, but they have 1/3 of a trillion dollars invested.  I'm certain that Kevin can't grasp this concept?  He hears large profits and doesn't consider the investment made.  Exxon has averaged about 2% return on assets the past 48 months.

 

Kevin, you should really do some research before you whine.


There are thousands of fossil fuel companies that make and market gasoline? What planet are you referring to?

 

I'd delve into Exxon's financials and show Boiler that Exxon's actual profit is much higher than 7.2%, but his mind is already made up. And the cherry-picked data he uses--"the past 48 months"--includes the pandemic, so it doesn't reflect how well they're doing now.

 

Boiler is, not to put too fine a point on it, an idiot and a liar.

 

 

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