Gas up to 4.69 in my area today

[LV426]

And yet we are STILL have higher prices (curently $3.285) than we were at the end of the Trump administration ( $ 2.41).

Because you couldn't keep your big, fat, fucking lying mouth shut about COVID.

You lack all self-control, and that's what turned COVID into a global pandemic.

The price of oil declined during Trump because you lied about COVID and that caused a pandemic which caused a drop in demand.

YOU KNOW ALL OF THIS, OF COURSE...you're just being a partisan hack on JPP because you're getting blamed for this due to your lack of self-control.

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.

For the 1000th time: OIL COMPANIES WILL NEVER INCREASE PRODUCTION IN ORDER TO DRIVE DOWN THE PRICE PER BARREL.

Drilling and producing more oil lowers the global price, which lowers oil company profits...and drilling and producing more also adds the risk of OPEC countering that production with production cuts of their own.

This is so fucking easy to understand, yet it's over your fucking pinhead.

 

[Callinectes]

OMFG...you literally said in another post on this thread that you want the government to regulate production.

Where did I say that? Are you referring to Nixon’s wage and price controls? Those controls were universally applied, they didn’t just hit oil and gas. I did say that I wanted the government to keep it’s fucking nose OUT of private business TO THE GREATEST EXTENT POSSIBLE. I understand that some regulation is necessary for consumer safety, but your fascist thugs in the swamp shouldn’t own any business and have the audacity to tax them on the profits they would be ALLOWED to make.

That only happens by nationalization because so long as the profit motive exists, oil companies have no motive to increase the supply.

What the hell is it with you and profit? How do you expect these oil companies to compete with all the non-profit oil companies out there? Oh wait…THERE ARE NO NON-PROFIT OIL COMPANIES OUT THERE!!!!

Fuck, no one was talking about this shit when Trump was in office and gas was less than 2.50 a gallon. And you might want to get your memo out to your commutard compatriots here who are reporting that domestic oil production is surpassing Trump’s numbers. Kind of blunts your narrative, doesn’t it?

 

[LV426]

I did say that I wanted the government to keep it’s fucking nose OUT of private business TO THE GREATEST EXTENT POSSIBLE.

Well, there exists no world in which more production will lead to higher profits, and since no such world exists, not one single oil company is going to do that.

What is so hard to understand about this? I can't believe how fucking dumb you are about this.

Low oil prices might be good for consumers, but they're not good for oil companies.

So why would an oil company reduce its bottom line?

 

[LV426]

I understand that some regulation is necessary for consumer safety, but your fascist thugs in the swamp shouldn’t own any business and have the audacity to tax them on the profits they would be ALLOWED to make.

The only way to get lower gas prices is to nationalize the oil industry.

Oil companies are not going to voluntarily lower their profit margins just because you're shitting your pants over $4.00 gas.

Oil companies want you to pay $4.00/gallon because they make more money than if you paid $2.00/gallon.

For some reason, that concept doesn't click in your brain and I think it's because you're an alcoholic.

 

[LV426]

What the hell is it with you and profit? How do you expect these oil companies to compete with all the non-profit oil companies out there? Oh wait…THERE ARE NO NON-PROFIT OIL COMPANIES OUT THERE!!!!

Total fuckin' dissonance here.

So you whine about the high cost of oil, but you also whine that oil companies should make all the profit they want, and you can't seem to connect those two things.

Dissonance.

 

[LV426]

Fuck, no one was talking about this shit when Trump was in office and gas was less than 2.50 a gallon.

Again, that was before you and Trump lied about COVID and caused a global pandemic that lowered demand, only to see that demand rise once the vaccines were distributed and people felt it was safer to go out.

Had you kept your big, fat mouth shut, Trump would probably still be President and we'd probably be paying $2.50/gallon.

But you just couldn't shut the fuck up.

You couldn't help yourself.

It is a compulsion with you and your Nazi pals; the universal thing among you trash people is that you don't know when to shut the fuck up.

Your big mouth is the reason gas costs as much as it does, and it's also the reason why Trump lost.

 

[LV426]

And you might want to get your memo out to your commutard compatriots here who are reporting that domestic oil production is surpassing Trump’s numbers. Kind of blunts your narrative, doesn’t it?

It's not OUR production, it's OIL COMPANY production and they get to keep 100% of what they extract.

And they will only extract the exact amount necessary to achieve the highest possible profit margins.

So again, your dissonance is showing here...you screech about gas prices, but no oil company is going to increase production in order to reduce gas prices because that means a reduction of THEIR profit.

Do you understand?

 

[Matt Dillon]

That is ALL they did for 100+ years you fucking idiot because they are all for-profit, multinational corporations.

No.

 

[Matt Dillon]

The only way to get lower gas prices is to nationalize the oil industry.

Oil companies are not going to voluntarily lower their profit margins just because you're shitting your pants over $4.00 gas.

Oil companies want you to pay $4.00/gallon because they make more money than if you paid $2.00/gallon.

For some reason, that concept doesn't click in your brain and I think it's because you're an alcoholic.

No; Hell no, you fucking Commie shitbag!

You need a helicopter ride. When fuel prices started getting messed up is when government got involved.

 

[Callinectes]

Well, there exists no world in which more production will lead to higher profits, and since no such world exists, not one single oil company is going to do that.

Of course they increase and decrease production. Have you never heard of supply and demand? But that’s just the tip of the iceberg. Let’s say you increase production in a period of low demand (like right now). Where are you going to store all that crude? Where are you going to refine it? American refineries are running at 93-95% capacity right now, and we haven’t built a new refinery here in almost 40 years. That’s how you get an oil glut.

Low oil prices might be good for consumers, but they're not good for oil companies.

Right now, with refineries running at almost maximum capacity, the price at the pump is falling, but for all the wrong reasons. Demand is low because of the recession, and the price of everything else is up. Soon, it won’t be worth it to keep that pace of production. AND THEY STILL WON’T BE ESTABLISHING THE PRICE. They will just regulate the amount produced. It’s really all they can control.

So why would an oil company reduce its bottom line?

That’s not what they want. That would be against the laws of God and economics. So why do you want them have the profit motive smacked out of them by the fucking government anyway? What would you replace it with?

And you said before that I bitched about high gas prices, yet I didn’t want them to increase production? What I’ve been trying to say is, I hate high gas prices that are caused by the government saying and doing stupid shit. It causes the speculators to go apeshit. Remember when Obama said “under my plan, energy costs will necessarily skyrocket”? Well, his wish came true. And he accomplished absolutely nothing for his efforts.

 

[LV426]

No.

Care to elaborate? Or can you even do that because you don't believe any of this shit you're saying?

 

[LV426]

No; Hell no, you fucking Commie shitbag!

You know nothing about this, which is why all you can do is oink and moo like a barnyard animal as you get educated on capitalism.

 

[LV426]

You need a helicopter ride. When fuel prices started getting messed up is when government got involved.

You have a big, fat fucking mouth that you are too chickenshit to stand behind when it matters.

You can't even make an argument here; all you can do is make noise to gain attention because of how pathetically lonely you are.

 

[LV426]

Of course they increase and decrease production. Have you never heard of supply and demand? But that’s just the tip of the iceberg. Let’s say you increase production in a period of low demand (like right now). Where are you going to store all that crude? Where are you going to refine it? American refineries are running at 93-95% capacity right now, and we haven’t built a new refinery here in almost 40 years. That’s how you get an oil glut.

They only increase and decrease production by the exact amount necessary to achieve the highest profits, and that runs in direct conflict with consumers wanting lower prices.

Oil companies make the most money when the price per barrel is at its highest, and it doesn't reach its highest by increasing the supply.

This is basic economics that you don't need a degree to understand.

You mention supply and demand here, so what happens to prices when you increase supply? They go down. And what happens to profit margins when prices go down? They also go down.

So why would an oil company increase production over what they're already producing if it means a decline in the price per barrel and their profit margins? None of them have ever done that. And they're trying to increase supply now, but that is countered by OPEC production cuts.

So those oil companies may be increasing their share of the market by increasing supply, but the global balance is whatever OPEC wants it to be.

 

[LV426]

Right now, with refineries running at almost maximum capacity, the price at the pump is falling, but for all the wrong reasons. Demand is low because of the recession, and the price of everything else is up. Soon, it won’t be worth it to keep that pace of production. AND THEY STILL WON’T BE ESTABLISHING THE PRICE. They will just regulate the amount produced. It’s really all they can control.

And they regulate their production towards the goal of maximizing profits, which usually means cuts to production.

Now they have increased their production in 2022 in order to gain a larger share of the market, but those production increases are met with production cuts by OPEC which maintains the price per barrel, doesn't decline it.

 

[LV426]

That’s not what they want. That would be against the laws of God and economics. So why do you want them have the profit motive smacked out of them by the fucking government anyway? What would you replace it with?

Because their profit motive runs in direct conflict with consumer needs.

You can't have high oil company profits without a high price per barrel, and you don't get a high price per barrel by increasing the supply of oil.

None of it matters anyway because OPEC ultimately controls the global oil market, and balanced out 2022 domestic production increases with production cuts of their own:

OPEC sticks with supply cuts as West tightens sanctions on Russian oil
https://www.cnn.com/2022/12/04/energy/opec-production-oil-prices/index.html

So why would OPEC cut production when consumers all over the world emerge from the pandemic? Simple...to maintain the current price per barrel.

You know my solution: nationalization. It's the only path to true "energy independence". Any other path continues to put us at the whim of OPEC.

 

[LV426]

And you said before that I bitched about high gas prices, yet I didn’t want them to increase production? What I’ve been trying to say is, I hate high gas prices that are caused by the government saying and doing stupid shit.

These gas prices have nothing to do with government; they are entirely motivated by profit.

Oil companies make the most money when gas prices are at their highest, so why would they ever deliberately lower them?

Domestic producers increased production in 2022, yet the price per barrel didn't decline until Biden released from the strategic reserve. That is because throughout 2022, as domestic producers increased production, OPEC cut theirs.

The mistake most people make is that they think the US operates in a separate, exclusive oil market when what's really happening is corporate domestic refineries are purchasing oil on the global markets, competing against other buyers. The only way to avoid that is to nationalize the industry.

 

[LV426]

Remember when Obama said “under my plan, energy costs will necessarily skyrocket”? Well, his wish came true. And he accomplished absolutely nothing for his efforts.

Not sure what you're talking about, but the price of oil has nothing to do with the US government.

The price of oil is what it is because that's the price that nets the oil companies the highest profit.

Obama didn't cause OPEC to cut production in 2015, nor did Obama cause OPEC to ramp up production in 2017.

Obama allowed more domestic production, but it had a nominal impact on the price because OPEC controls the market.

You people all talk as if that isn't the cold, hard truth! Anything we do domestically, OPEC will simply balance out.

And we don't want to piss off OPEC because the last time we did that in 2015, they increased production and bankrupted over 100 oil and natural gas companies to the tune of $100B in debt.

That is why domestic producers won't increase production that much...doing so runs the risk of pissing off the cartel, and whatever you do, no matter fucking what, you do not piss off a cartel.

 

[Matt Dillon]

Not sure what you're talking about, but the price of oil has nothing to do with the US government.

The price of oil is what it is because that's the price that nets the oil companies the highest profit.

Obama didn't cause OPEC to cut production in 2015, nor did Obama cause OPEC to ramp up production in 2017.

Obama allowed more domestic production, but it had a nominal impact on the price because OPEC controls the market.

You people all talk as if that isn't the cold, hard truth! Anything we do domestically, OPEC will simply balance out.

And we don't want to piss off OPEC because the last time we did that in 2015, they increased production and bankrupted over 100 oil and natural gas companies to the tune of $100B in debt.

That is why domestic producers won't increase production that much...doing so runs the risk of pissing off the cartel, and whatever you do, no matter fucking what, you do not piss off a cartel.

OPEC can't control the market when America outproduces them, fucking retard. That's exactly what was happening when Trump was president.

https://thenewamerican.com/u-s-officially-the-world-s-largest-crude-oil-producer/

 

[LV426]

OPEC can't control the market when America outproduces them, fucking retard.

But America doesn't have the same proven reserves that OPEC does, so domestic producers may be increasing their share of the market, but the global supply is controlled by OPEC.

In 2022, domestic producers increased production, yet OPEC cut theirs, which is why the price per barrel didn't decline at all in 2022 until Biden released oil from the strategic reserve. That's what caused gas prices to drop by 30%.