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The news seems to be shifting the blame of high gas on the oil companies
Posted on 6/7/22 at 7:15 am
Posted on 6/7/22 at 7:15 am
Watching the news this morning and they were doing a report on the high gas prices around the country. At the end they stated that while everyone struggles to pay for gas at the pumps the big 5 oil companies have seen increase in profits of 300%. Looks like they are trying to intentionally mislead and shift the blame to the oil companies. Of course they don’t mention that oil companies planned for development and production of wells at a much lower price so when supply/demand caused the price to go above that mark that naturally they will see increases in profits.
Posted on 6/7/22 at 7:16 am to thadcastle
But I was told it was Putin's fault.
Posted on 6/7/22 at 7:17 am to thadcastle
The government creates inflation. There is no other answer.
Putin, China, trump, and oil companies did not create this.
Putin, China, trump, and oil companies did not create this.
Posted on 6/7/22 at 7:19 am to thadcastle
Everyone’s fault but the elected official who kills leases in the gulf days after he took office and openly stated that he wanted to end the oil/gas industry.
Now we have to deal with massive inflation and $5/gallon gas.
Now we have to deal with massive inflation and $5/gallon gas.
This post was edited on 6/7/22 at 7:20 am
Posted on 6/7/22 at 7:21 am to thadcastle
They mention anything about the politicization of "climate change?"
Or how Governors and mayors across the country, along with many businesses, decided to impose draconian lockdowns and disrupt the energy market so severely rigs and refineries were shutdown and people were laid off?
Or how Governors and mayors across the country, along with many businesses, decided to impose draconian lockdowns and disrupt the energy market so severely rigs and refineries were shutdown and people were laid off?
Posted on 6/7/22 at 7:28 am to thadcastle
Gas price by my house when Biden took office was $2.19, it's now at $4.39 - doubled. I don't want to hear jack shite about bad corporations. That senile puppet in the White House is directly to blame for everything.
Posted on 6/7/22 at 7:31 am to thadcastle
(no message)
This post was edited on 11/7/22 at 7:22 am
Posted on 6/7/22 at 7:33 am to thadcastle
Is this the cue for everyone on the OT to go on their daily rant about politics?
Posted on 6/7/22 at 7:34 am to jivy26
my favorite game to play whenever someone blames it on greedy oil companies is ask why they're only greedy when Biden and Obama are in office but not the 4 years of Trump being in office. Did they just randomly become honest businessmen across the entire industry for that term?
Posted on 6/7/22 at 7:35 am to thadcastle
People still believe our propaganda machine aka main stream news. I want to shake their shoulders.
Posted on 6/7/22 at 7:36 am to redstick13
quote:
Is this the cue for everyone on the OT to go on their daily rant about politics?
People are struggling financially right now. They need a place to vent and share mutual frustrations. You could EASILY just keep scrolling or do something else.
Posted on 6/7/22 at 7:38 am to AtlantaLSUfan
The culture of blame and victimhood.
Never let them take your firearms. We are not "all in this together" and the system is crumbling.
Never let them take your firearms. We are not "all in this together" and the system is crumbling.
Posted on 6/7/22 at 7:39 am to thadcastle
There are a lot of reasons and contributing factors for high gas prices, but Biden isn’t one of them.
Posted on 6/7/22 at 7:41 am to thadcastle
What they're saying isn't wrong, it's just completely out of context.
If you leave the windows open on your car all day every day, your floorboards will rust out. But it's not the manufacturer's fault your car rusted.
Similarly, right now the oil companies and their lenders are very wary to invest the massive amounts of capital required to drill, transport, and refine oil. They saw Obama and Biden very publicly declare war on coal, then utterly smash the industry with no regard to the jobs and investors*** in that business. The oil companies and their lenders are understandably hesitant to drop billions of dollars into new projects when Biden and his coal-warriors have set their sights on the oil industry.
It would be like taking out a mortgage on a house perched on a precarious cliff. Do you want to be on the hook for that $400k note if the house falls in and there is no insurance?
I'm not defending Biden's policy. I think most of his policies have been pure hamfisted crap. But I think this is how they're trying to shift blame away from Biden's incompetence.
***investors
Here's the other thing. You hear a lot of liberals talk about "shareholder greed" and such, with the implication that the shareholders are a bunch of fat cat wallstreet types driving Bentleys and sailing yachts on the weekend fueled by the misfortune of average joes.
This is far from the truth. The vast majority of shares are held by pension funds, insurance companies, 401k funds, retirement funds, etc... These investments may be managed by some fat cat in a Bentley, but the underlying money is average joes like you and me. Our 401k's and pensions.
If you leave the windows open on your car all day every day, your floorboards will rust out. But it's not the manufacturer's fault your car rusted.
Similarly, right now the oil companies and their lenders are very wary to invest the massive amounts of capital required to drill, transport, and refine oil. They saw Obama and Biden very publicly declare war on coal, then utterly smash the industry with no regard to the jobs and investors*** in that business. The oil companies and their lenders are understandably hesitant to drop billions of dollars into new projects when Biden and his coal-warriors have set their sights on the oil industry.
It would be like taking out a mortgage on a house perched on a precarious cliff. Do you want to be on the hook for that $400k note if the house falls in and there is no insurance?
I'm not defending Biden's policy. I think most of his policies have been pure hamfisted crap. But I think this is how they're trying to shift blame away from Biden's incompetence.
***investors
Here's the other thing. You hear a lot of liberals talk about "shareholder greed" and such, with the implication that the shareholders are a bunch of fat cat wallstreet types driving Bentleys and sailing yachts on the weekend fueled by the misfortune of average joes.
This is far from the truth. The vast majority of shares are held by pension funds, insurance companies, 401k funds, retirement funds, etc... These investments may be managed by some fat cat in a Bentley, but the underlying money is average joes like you and me. Our 401k's and pensions.
This post was edited on 6/7/22 at 8:44 am
Posted on 6/7/22 at 7:43 am to thadcastle
Biden is an idiot and will always make the wrong decision. He hates fossil fuels and will make it extremely hard to drill. Prices will continue to rise.
Posted on 6/7/22 at 7:43 am to TBoy
quote:
There are a lot of reasons and contributing factors for high gas prices, but Biden isn’t one of them.
Posted on 6/7/22 at 7:43 am to pankReb
quote:
my favorite game to play whenever someone blames it on greedy oil companies is ask why they're only greedy when Biden and Obama are in office but not the 4 years of Trump being in office.
Was it not their greed that got monthly oil production to drop 25% from march to may of 2020?
Posted on 6/7/22 at 7:44 am to TBoy
quote:
There are a lot of reasons and contributing factors for high gas prices, but Biden isn’t one of them.
Let me guess....war?
Let's see....last time this happened, Putin took Crimea. Wanna guess who was in the White House back then determining Foreign Policy?
You won't like the answer.
Energy Policy? That's a direct effect of the administration who makes those policies. Not sure if you're aware of this but that would be Biden's administration.
I know Biden doesn't set the prices for Hot Dogs but he sure as frick took the credit for it last year.
Posted on 6/7/22 at 7:44 am to tadman
quote:
This is far from the truth. The vast majority of shares are held by pension funds, insurance companies, 401k funds, retirement funds, etc... These investments may be managed by some fat cat in a Bentley, but the underlying money is average joes like you and me. Our 401k's and pensions.
I love hearing people bitch and moan about "corporate greed" then turn around and brag about their 401k or 403b returns.
Clueless idiots.
Posted on 6/7/22 at 7:44 am to TBoy
you’re lying. he campaigned on it. did he not?
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