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Biden warns oil execs not to raise gas prices during storm
Posted on 9/28/22 at 1:23 pm
Posted on 9/28/22 at 1:23 pm
LINK
quote:
Do not use this as an excuse to raise gasoline prices or gouge the American people," Biden said during a White House conference on hunger, nutrition and health. "The price of oil has stayed relatively low and kept going down; the price of gas should be going down as well."
23
Posted on 9/28/22 at 1:25 pm to Masterag
Oil execs warn Biden not to shower with his daughter.
Posted on 9/28/22 at 1:27 pm to Masterag
quote:
price of oil has stayed relatively low and kept going down
until he decides to fill up the reserves after the election
Posted on 9/28/22 at 1:27 pm to Masterag
quote:
oil execs
Don't set prices.
quote:
The price of oil has stayed relatively low
That's a lie.
Posted on 9/28/22 at 1:28 pm to Masterag
It's not oil execs that do this. It's local stations that do this and Florida probably has gouging laws in place to prosecute any local establishments that participate in gouging.
Posted on 9/28/22 at 1:28 pm to Masterag
I don’t think he understands how retail gas prices are set.
Posted on 9/28/22 at 1:29 pm to GumboPot
It's gone up 50 cents in WI over the past week or so.
No hurricanes here.
No hurricanes here.
Posted on 9/28/22 at 1:30 pm to Masterag
quote:Oh blow it out your arse Brandon
"The price of oil has stayed relatively low
Posted on 9/28/22 at 1:32 pm to Masterag
Supply and demand works.
If there isn’t very much gas in an area, it becomes more valuable as a commodity, so the price goes up.
And when gas companies see that, they go “wow! If we send more fuel to that area, we can charge $8/gallon, too!!”
It incentivizes companies to bring more fuel to the area.
More fuel arrives, it becomes less valuable, price goes DOWN.
Simple supply/demand economics. Of course our govt leaders are oblivious to this concept
If there isn’t very much gas in an area, it becomes more valuable as a commodity, so the price goes up.
And when gas companies see that, they go “wow! If we send more fuel to that area, we can charge $8/gallon, too!!”
It incentivizes companies to bring more fuel to the area.
More fuel arrives, it becomes less valuable, price goes DOWN.
Simple supply/demand economics. Of course our govt leaders are oblivious to this concept
This post was edited on 9/28/22 at 1:34 pm
Posted on 9/28/22 at 1:37 pm to Masterag
Oil execs don't run gas stations 
Posted on 9/28/22 at 1:37 pm to LSUTIGER in TEXAS
It always amazes me that so many people in power have zero fundamental knowledge of economics.
Posted on 9/28/22 at 1:38 pm to Masterag
Biden… :slams fascist easy button harder in frustration:
Posted on 9/28/22 at 1:39 pm to Masterag
quote:
Biden warns oil execs not to raise gas prices during storm
Well duh
He wants the prices to remain low right up until the mid-terms ! That way he can preach to the gullible minions about how he, all by himself, was able to lower/sustain lower prices Posted on 9/28/22 at 1:39 pm to Masterag
price gouging is a GOOD thing, but too many idiots dont understand simple supply and demand
Posted on 9/28/22 at 1:40 pm to BuckyCheese
quote:
It's gone up 50 cents in WI over the past week or so.
We’re closing in on $6 for premium out here.
Posted on 9/28/22 at 1:41 pm to Masterag
quote:
It always amazes me that so many people in power have zero fundamental knowledge of economics.
well when you've been "working" in the federal government for almost 1/2 decade & you're really a dumb azz for his entire life, his knowledge base is pretty limited
Posted on 9/28/22 at 1:47 pm to LSUTIGER in TEXAS
Biden is an economic dumbass. The spot market will go up when a hurricane is headed for the refineries in Texas and Louisiana. The storm reducing supply.
Damaging Floridas refining capacity isn’t a national issue.
Most people in those traffic jams evacuating would be glad to find gas. Aggravated at higher prices but glad.
Damaging Floridas refining capacity isn’t a national issue.
Most people in those traffic jams evacuating would be glad to find gas. Aggravated at higher prices but glad.
Posted on 9/28/22 at 2:01 pm to Masterag
Saves more money for taxes.
Posted on 9/28/22 at 2:02 pm to Clyde Tipton
They want government controls. This never works out
Posted on 9/28/22 at 2:07 pm to Masterag
Supply and demand proves that anti-price gouging laws during a hurricane are disasters. Stopping the price increase causes hording. People drive up to gas stations and get 200 gallons of gas in containers in their truck. That means lots of people can't get gas when they need it to evacuate.
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