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Masterag
Texas A&M Fan
'Round Dallas
Member since Sep 2014
17877 posts

Biden warns oil execs not to raise gas prices during storm

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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."




Gaspergou202
LSU Fan
Metairie, LA
Member since Jun 2016
13102 posts

Oil execs warn Biden not to shower with his daughter.


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1210
DawgCountry
Kennesaw St. Fan
Great State of GA
Member since Sep 2012
29688 posts

quote:

price of oil has stayed relatively low and kept going down


until he decides to fill up the reserves after the election


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270
Clyde Tipton
LSU Fan
Planet Earth
Member since Dec 2007
37029 posts

quote:

oil execs


Don't set prices.

quote:

The price of oil has stayed relatively low


That's a lie.


GumboPot
Georgetown Fan
Member since Mar 2009
102822 posts
 Online 

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.


frequent flyer
LSU Fan
USA
Member since Jul 2021
2100 posts

I don’t think he understands how retail gas prices are set.


BuckyCheese
Wisconsin Fan
Member since Jan 2015
35474 posts
 Online 

It's gone up 50 cents in WI over the past week or so.

No hurricanes here.


StrongOffer
LSU Fan
Member since Sep 2020
1741 posts
 Online 

quote:

"The price of oil has stayed relatively low
Oh blow it out your arse Brandon


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140
LSUTIGER in TEXAS
Houston Astros Fan
Member since Jan 2008
13355 posts

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
This post was edited on 9/28 at 1:34 pm


upgrayedd
US Space Force Fan
Lifting at Tobin's house
Member since Mar 2013
131030 posts
 Online 

Oil execs don't run gas stations


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Masterag
Texas A&M Fan
'Round Dallas
Member since Sep 2014
17877 posts

It always amazes me that so many people in power have zero fundamental knowledge of economics.


McLemore
Member since Dec 2003
29508 posts

Biden… :slams fascist easy button harder in frustration:


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60
GWM
Member since Aug 2021
1062 posts

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


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60
Northshore Aggie
Texas A&M Fan
Mandeville, LA
Member since Sep 2022
545 posts

price gouging is a GOOD thing, but too many idiots dont understand simple supply and demand


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73
Figgy
Florida Fan
CenCal
Member since May 2020
4666 posts

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.


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31
minister of truth
LSU Fan
Florida panhandle
Member since May 2022
559 posts

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


20 ton
LSU Fan
BR
Member since Aug 2013
656 posts

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.


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31
i am dan
Auburn Fan
NC
Member since Aug 2011
21108 posts

Saves more money for taxes.


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20
Nosevens
Member since Apr 2019
6693 posts
 Online 

They want government controls. This never works out


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40
Zach
LSU Fan
Gizmonic Institute
Member since May 2005
108216 posts

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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