Real inflation up over 30% since Biden took office

a reply to: Vroomfondel

Not blaming Trump. Or Biden. Obama. Bush. Bush. Clinton.....etc, etc....yep....blame....who?

originally posted by: Vroomfondel
The week biden was sworn in gas went to $2.37.

I don't even like Biden, but you guys are ridiculous! You really think that there's anything anyone in government can do to to raise prices in a week?

See my link above. Oil companies are refusing to up production to combat prices, the thing that they've always done before, to please their shareholders. Prices rise, they make more money, shares go up.

Corporate greed. That's it. But they know that about half of the American population are stupid enough to blame it on a president.

a reply to: LordAhriman

I wonder why they never did this before?

Perhaps the investment that would be required to ramp up production in the short term isnt worth it when the party in power vows to put you out of business in a moments notice.

a reply to: LordAhriman

Oil companies are refusing to up production to combat prices,

Talk to the commerce sec (I think) and the epa, they are the ones throwing more and more roadblocks and changing the studies that must be done before the oil companies can do anything.

Bush Jr has shown that by having an energy positive plan with the intention of boosting supply the market will correct the price (historical fact), having a policy that says we are going to put you out of business will imply incoming scarcity so prices go up.

originally posted by: Irishhaf
a reply to: LordAhriman

Oil companies are refusing to up production to combat prices,

Talk to the commerce sec (I think) and the epa, they are the ones throwing more and more roadblocks and changing the studies that must be done before the oil companies can do anything.

Bush Jr has shown that by having an energy positive plan with the intention of boosting supply the market will correct the price (historical fact), having a policy that says we are going to put you out of business will imply incoming scarcity so prices go up.

I provided a link. Read it. They're not even trying to hide it.

a reply to: Grambler

Look at Chevron, and Suncor's dividend history, and look at their over all charts, (Just a start to get you started) both company's have had record stock performance in a short term, and both increased dividend payouts, and both had massive buy backs of shares.

And you blame the government for inflated oil prices?

Sorry, usually I am somewhat on your side, but this entire thread is one giant reactionary hyperbole.

In regards to your OP:

Yea... let's just let a pandemic rip through the US and destroy it's for profit health care system... wait a minute. Maybe that would have been the best thing for the US and actually put you guys into a massive reality check for once.

originally posted by: Grambler
a reply to: LordAhriman

I wonder why they never did this before?

Perhaps the investment that would be required to ramp up production in the short term isnt worth it when the party in power vows to put you out of business in a moments notice.

We shouldn't look to the party who receives all of the oil company donations? Not even a little? I wonder why oil companies want to make democrats look bad.

How crafty of the evil oil companies to do this with a president and administration that wants any excuse to promote their Green New De- . . . . . . .

Government locks down economy. Tells oil companies it will put them out of business day one of biden admin.

Then begs them to produce more immediately.

Big brains on this thread

"I blame the oil companies, the government has no fault!!!"

a reply to: Grambler

Corporate America runs government, what rock do you live under? Ever heard of the "corporate coup d'etat"?

Government shuts down economy in response to pandemic, corporations want their cut, so they basically demand a bail out in the form of a 'stimulus bill'. It's not hard to follow the money and with how the markets have been going, it's clear as day big corporate America came out as the winners in all of this.

Once again, Joe Biden being called upon to play the dumb dumb fall guy while the world burns. Like pottery.

originally posted by: LordAhriman

originally posted by: Vroomfondel
The week biden was sworn in gas went to $2.37.

I don't even like Biden, but you guys are ridiculous! You really think that there's anything anyone in government can do to to raise prices in a week?

See my link above. Oil companies are refusing to up production to combat prices, the thing that they've always done before, to please their shareholders. Prices rise, they make more money, shares go up.

Corporate greed. That's it. But they know that about half of the American population are stupid enough to blame it on a president.

Yes, when you campaign on a platform of attacking oil, gas, and coal, and state that you intend to convert the US to electric cars by 2030, yes, the threat of that kind of insane platform achieving fruition will have an immediate affect.

Gas prices did not go up 225% in 17 months due to corporate greed. I find it hard to believe half of this country is stupid enough to think corporate greed only happens when biden is in office. Remember Trump? The alleged friend of big oil, big business? Why didn't corporate greed run prices up in the four years preceding this administration when the business man was in office? From the beginning to the end of the Trump administration gas prices dropped 5 cents a gallon. Where was the corporate greed then?

originally posted by: Vroomfondel

Entertain me. What did he do to cause this?

One man.

Worldwide.

a reply to: Grambler

According to the Biden Administration , it Has Not . Hmm.......

a reply to: LordAhriman

Yes, when you campaign on a platform of attacking oil, gas, and coal, and state that you intend to convert the US to electric cars by 2030, yes, the threat of that kind of insane platform achieving fruition will have an immediate affect.

Find someone to read this ^^^ to you. Its obvious you cant read it yourself.

Most liberal leaders have the same distorted ineffective view of how things work. Get enough of them in places of power and the collective result is felt globally. More importantly, the US has been one of the leaders of world economy for many years. When our markets drop, so do everyone else's. At least to a point. Our currency is the reserve. When we begin to fail we take a bit of everyone else with us. Its not that hard to figure out, for most people that is.

I don't have the time or the patience to take you on a guided tour of global economics, which is what its going to take to get you to even begin to understand this. So try to find someone with some knowledge of the economy, and a whole lot of free time, to walk you through it.

a reply to: LordAhriman

Better yet, why don't you address the point I made?

You said:

Corporate greed. That's it.

I said:

Gas prices did not go up 225% in 17 months due to corporate greed. I find it hard to believe half of this country is stupid enough to think corporate greed only happens when biden is in office. Remember Trump? The alleged friend of big oil, big business? Why didn't corporate greed run prices up in the four years preceding this administration when the business man was in office? From the beginning to the end of the Trump administration gas prices dropped 5 cents a gallon. Where was the corporate greed then?

If it was corporate greed and nothing else as you stated: "Corporate greed. Thats it," why did it only happen after biden took office? Where was all that greed the entire four years preceding this dolts administration?

And how about the obama years? obama took office and gas was $3.10 a gallon. Gas was between $3 and $4 a gallon for more than five years of his administration before finally settling back to the $2.30's when he left office. Two democrat administrations and both had higher gas prices than the four years of Trump right between the two of them. And you still think the politics has nothing to do with it??? Jeebus...

a reply to: strongfp

Of course there is a symbiotic relationship between corporations, billionaires and our government. The government needlessly locked down, which increased profits for their corporate backers, with the lockdowns/stimulus leading to one of the quickest transfers of wealth from poor and working class people to the wealthy.

I was against those lockdowns, I wonder if you were?

Yet it doesn't seem the oil and gas industry was one of the big winners from the lockdown.

They took huge losses in 2020

Exxon Mobil made $23 billion in profit for 2021. But that came after suffering $22.4 billion in losses the previous year because of the pandemic-fueled economic downturn. The New York Times reported the company's profit was the highest it had been since 2014.

Chevron also experienced its most profitable year since 2014, with the company reporting in January that it made $15.6 billion in revenue for 2021, according to the Wall Street Journal. That followed a loss of $5.5 billion in 2020.

BP reported it made $12.85 billion in 2021, with $4.1 billion being made in the fourth financial quarter. Reuters reported the quarterly profit was the largest the company has had since 2013. That followed a $5.7 billion loss in 2020, its first in a decade.

www.politifact.com...

As far as this being "record profits"

First off, its not, as the post above shows most made higher profits during Obamas term. Also the profits are in dollar amounts, which doesnt factor in inflation. Making 23 billion in 2022 would be less in total value than making 21 billion in 2017, especially since inflation is sky rocketing.

In addition, most of the high profits came during the second third, and fourth quarters of 2021. This was before the massive spike in prices we saw in 2022.

csimarket.com...

IN the first quarter of 2022 profits went back down from a whopping over 100% growth in the previous three quarters to around 40%, which is similar to other good years, but not record breaking.

Ill respond about production amounts in the next post, but suffice it to say the reason they are buying back stocks for shareholders iis they took a beating in 2020, and they aren't confident that investing in more production will be profitable long term, as Biden and the dems have bragged about killing the industry.

The U.S. Dollar Becomes the World's Reserve Currency
The U.S dollar was officially crowned the world's reserve currency and was backed by the world's largest gold reserves thanks to the Bretton Woods Agreement. Instead of gold reserves, other countries accumulated reserves of U.S. dollars.
-www.investopedia.com...#:~:text=The%20U.S.%20Dollar%20Becomes% 20the,accumulated%20reserves%20of%20U.S.%20dollars.


This took me all of 3 seconds of Google search.

Now I'm no fancy economist, but if the US is tanking from bad leadership, it looks to me like it would affect the planet.

originally posted by: Vroomfondel
a reply to: LordAhriman
If it was corporate greed and nothing else as you stated: "Corporate greed. Thats it," why did it only happen after biden took office? Where was all that greed the entire four years preceding this dolts administration?

2020 happened. They lost money on every barrel for several months.

They're recouping lost profits.

🤡

a reply to: Grambler

New fone, who dis?????




Looking at the charts and measuring with inflation and approximate percentages, they arent making as much as they could with a $6. Average per gallon price.

Putins price hikes aside.