Taichiliberal
Shaken, not stirred!
Your "theory" is severely flawed due to your inherent bias and lack of comprehensive reading of the facts involved, as I pointed out in Post #240
Gas up to 4.69 in my area today
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Your "theory" is severely flawed due to your inherent bias and lack of comprehensive reading of the facts involved, as I pointed out in Post #240
Oil companies do regulate production to make the most money that can.
Callinectes
Proud MAGA Semi-Facist
Of course they do. The point of contention seems to be whether or not those profits are "obscene", and the problem with that is, guys like lv426 who think it's obscene never define the point where it becomes obscene. They just bitch. They don't offer any solutions (to "problems" that actually don't exist in the first place) with the exception of bringing in the jack-booted thugs of the government. That's how communism, socialism and national socialism operates.
ExpressLane
Verified User
And yet DUC wells have dropped sharply during the Biden administration . And oil was CHEAPER during the Trump administration despite having a significantly larger number of DUCs. Currently oil companies are completing more wells than they are drilling. Plus the speed at which the well is pumped is regulated by the government (In Texas at least) to prevent damage to the oil field.
https://en.macromicro.me/charts/22350/us-drilled-but-uncompleted-wells
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Taichiliberal
Shaken, not stirred!
1. Do some research as to American oil company profits during times of "oil shortages" and lower gas pump sales......most recently the first year of the Covid lockdowns when nation wide traffic was so low that the air quality actually improved over some major cities!
2. I lived through the "don't be fuelish" and "oil glut" days. Do some research on that, because your claim of "problems that actually don't exist" is not something you can solely hang on regulation attempts and Joe Biden.
3. In my lifetime, I have NEVE seen any "jack-booted thugs of government" at any gas station.
4. The Wall St. speculation that help drives oil/gas prices is not communist, socialist or "national socialist" operation or invention.
Taichiliberal
Shaken, not stirred!
And yet:
Since bottoming out at $1.87 a gallon in late April 2020, gas prices have mostly been going up. The bulk of the increase came under President Donald Trump, with prices continuing to rise under Biden.
Nationally, the average price of a gallon of gas was $2.46 on Jan. 18, the final weekly tally before Biden took office. It rose to $2.80 on March 1, the latest weekly tally before the Facebook post, according to the U.S. Energy Administration. That’s an increase of 34 cents under Biden.
The prices were similar at GasBuddy.com: $2.41 on Jan. 19 and $2.77 on March 7 — an increase of 36 cents.
https://www.politifact.com/factcheck...-isnt-10-unde/
ExpressLane
Verified User
And yet we are STILL have higher prices (curently $3.285) than we were at the end of the Trump administration ( $ 2.41). We have had a SHARP decrease in the DUC since the Trump administration which leaves us in a more vulnerable position. And if you remember Biden is releasing oil from the Strategic Petroleum Reserve to lower the oil prices instead of encouraging increased drilling and production. That oil was drilled under the Trump and other administrations. That practice has to stop eventually. You can't put lipstick on this pig.
Your link is bad.
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Monad Portal
Was it me?
Not good. In fact it will be over 6 here by sometime in July. Going to cause a whole lot of other products to rise right along with it. Thanks Joe! Ive heard the LIE said many times that the Democrats are the party for the poor. I wonder what so many of those poor Dems think now?NOVEMBER IS COMING.
they're saving the planet!
Taichiliberal
Shaken, not stirred!
The link is accurate....YOU keep constructing your version of things based on your skewed version of reality. What you thinks should happen is one thing....what has happened is a matter of fact and history. My link shows that the MAGA mantra that Biden is solely responsible for rising gas prices is inaccurate. That you refuse to accept such is of no consequence.
It doesn't seem to me like you have any clear idea of what it is you want.
It seems to me you want gas prices to be high so you can blame them on Biden, and you also want gas prices to be low but that runs in direct conflict with the profit motive of capitalism.
So you have a dilemma; lower oil prices means lower oil company profit, and there is not a single oil company out there that is willing to take lower profit margins than their competitors.
NOT. ONE.
The only way you lower oil prices is by doing precisely what Biden did, and tap the strategic reserve to increase supply. But just know that is a temporary solution because oil companies will react to that SR release by cutting their domestic production by almost the exact same amount.
Well since oil production is entirely private, why would any oil company agree to let the government lower their profit margin?
And it's not about merely making a profit, it's about making the highest possible profit.
Will an oil company make the highest possible profit by increasing the global supply? No.
The only way to regulate production to the benefit of American consumers is to nationalize domestic production.
Oil companies increase or decrease production solely to maximize their profit.
Unless you nationalize domestic production, there's nothing we can do to permanently affect them.
Never happened, you got conned.
Here's the dissonance at the heart of your argument; You want lower gas prices, but lower gas prices run in direct conflict with oil company profit motives.
So unless you want government stepping into that, and they'd need to step into it in a big way to accomplish what you want, there is nothing we can do about oil companies cutting production to jack up the price and their profits.
It's time to grow up and put on your big boy pants.
Ah, but here you are whining about fossil fuel energy prices and how your friends like Callinectes, whose post you liked, want the government to "regulate" the industry by telling oil companies how much or how little oil they must produce.
Renewables don't have that problem.
That is ALL they did for 100+ years you fucking idiot because they are all for-profit, multinational corporations.
You are doing precisely that on this thread, dipshit. You're licking their boots and defending their profit motives.
That is you "falling at their feet".
THANK YOU
The way oil companies make profit is by cutting supply.
If an oil company can make record profits, why would they settle for anything less?
OMFG...you literally said in another post on this thread that you want the government to regulate production.
That only happens by nationalization because so long as the profit motive exists, oil companies have no motive to increase the supply.