re: President Trump Orders Oil Companies to Cut Gas Prices, Targets Chevron CEO

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Trump sounds like Obama in 2011:

quote: In a bid to deflect voters' anger, Obama has called for an end to tax breaks for oil and gas companies, opened a probe of market speculators and urged world producers to raise output.

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No he doesn’t … what Obama was trying to do in regard to what you posted makes sense…

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I thought you guys want lower gas prices?

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Well, you know how the left is always calling Trump a fascist?

The government not owning, but controlling, the means of production is...fascism.

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I’ll play with that argument. Isn’t necessarily a bad one.

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Yes, it is.

Neither of those things should have happened. Reasoning that because one happened the other should is like reasoning that because I dropped my phone on the concrete I should also stomp on it and kick it.

I love the situation we are in. I used to give Biden grief for the same thing (only because I believed there was collusion between the administration and top executives who responded (like media companies) - extorted by the DNC, etc.)

But I believe Trump is correct here, especially if the administration is in a quagmire with the oil transport through the Strait. That shipping, doesn't affect the American markets; yet our pricing is still sensitive because of global market prices set?

But If the American oil pricing is so sensitive, that a Presidential remark, can adjust their trajectory, then damn straight, they'd better listen. As companies, they had better pick their loyalties, and fast.

Why do people always complain about gas prices? The profits from O&G are tiny compared to Meta, apple , etc. No one complains about a thousand dollar phone

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That shipping, doesn't affect the American markets; yet our pricing is still sensitive because of global market prices set?

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FFS.

For probably the 17th thousand time on this board, while the United States may not be dependent on oil going through the Strait, oil is sold on the global market. Even the Permian WTI stuff. The vast majority of crude grades increase when overall global supply is curtailed or perceived threatened.

OPEC+ issuing major production cuts
Russia attacking Ukraine and shutting off its oil supply to European countries
The Strait being shut down

Those things will cause even WTI and GOA Mars crudes to increase in price.

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As companies, they had better pick their loyalties, and fast.

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Or what?

And you don't think they want the rockets going off in the Middle East to stop? American oil companies and their service company vendors have employees in the ME, in harm's way, and they've likely evacuated a portion as well. Pretty sure they want to be able to go back to operating and working without fear of a drone or bomb going off.