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Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’

 
Anonymous Coward
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07/05/2022 02:38 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
What do you expect Big Oil’s big money lobbying group to say?

Maybe they could comment on this as well.

June 2, 2014
Oil: $104.88 a barrel
Gas: $3.69 a gallon
Exxon's quarterly profit: $8.8 billion

July 3, 2022
Oil: $108.43 a barrel
Gas Price: $4.81 a gallon
Exxon's quarterly profit: $16 billion+
 Quoting: Anonymous Coward 80727462


Profit sharing:

Anonymous Coward
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07/05/2022 02:39 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
 Quoting: Anonymous Coward 80727462


That was more than two years ago. Guess what? Circumstances have changed.

Regardless, this administration doesn't care. They didn't even pretend to care until Dems up for reelection kept whining that Biden's energy policies and all this climate change crap was destroying their chances in the mid-terms.
 Quoting: Anonymous Coward 75451672


That cut in production agreement that Kushner negotiated with the Saudis was in effect until May 1, 2022.
 Quoting: Anonymous Coward 80804662


Biden could've canceled or renegotiated any time he wanted.
 Quoting: Anonymous Coward 75451672


Could he abrogate the agreement that Trump made with the Saudis?

How would the Saudis and OPEC respond if he could and did?
Remington

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07/05/2022 02:41 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
Who have we declared war on?
"A man's rights rest in three boxes: the ballot box, the jury box, and the cartridge box."
- Frederick Douglas
Anonymous Coward
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07/05/2022 02:41 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
I mean, the intern isn't wrong. Straight up price gouging. They'd still make plenty of profit at a more reasonable price. But greed is an ugly thing.
 Quoting: Anonymous Coward 83803228


Venezualla tried price controls just before the collapse of their currency, now Venezuelans eat from garbage dumpsters because there are no jobs.

Without profit, there is zero incentive to produce. Free market supply and demand, and competition control prices, not some pathetic, demented socialist resident who pretends he got 81 million votes.

:bc1:

You didn't earn it, so stop being so greedy.

'The problem with socialism is that you eventually run out of other people's money.' -Margaret Thatcher
 Quoting: DeploraVision ™


I am no socialist. I try to avoid "ist" labels at any rate. The terms are so overused these days and mean nothing because of that. If I must chose one I'm more capitalist than anything.

People are hurting and meanwhile oil is making record profits. Is it really greedy on my end to call that out when the oil companies are in fact the ones who are greedy? They do deserve to earn money for their work of course. Gouging people is another thing and that's what they are doing. I find that indefensible.

It's more of a moral issue for me not a political one. I'm a bit of a naive dreamer. What can I say it's just my nature.

I hate Brandon and the stolen election. I just call things like I see them.

At the current rate we things are deteriorating we won't have much longer to argue about it anyways. The country and the planet as a whole is going to hell and a handbasket. And nothing is going to stop it.
 Quoting: Anonymous Coward 83803228


Oil FUTURES. Look it up. The resident has done everything in his power to cause fuel (and food) inflation, yet he can dangle a shiny object called 'greed' and your frontal lobe deflates it's blood supply?

Cancelling Keystone XL Canada pipeline, restricting new oil leases in the Gulf, Alaska and on Federal lands all caused oil futures to skyrocket in price. Increasing the royalties from 12.5% to 18.75% payable to the fat Federal Government is coming from YOUR wallet.

The royalty rate for new leases will increase to 18.75% from 12.5%. That’s a 50% jump and marks the first increase to royalties for the federal government since they were imposed in the 1920s.
[link to journalrecord.com (secure)]

Asking oil companies to increase refining capacity while simultaneously telling them fossil fuel will be eliminated is something only a fake resident with dementia can't figure out.

If you believe his lies, you deserve $20/gal gas.
 Quoting: DeploraVision ™


It doesn't have anything to do with believing what Biden says. He's a fool and a demented one at that.

I'm merely noting the fact that out of control greed in this country has become a sort of epidemic. But if anyone mentions that they are labelled a communist or a socialist on here. We've been exploited for so long that people now sympathize with the people exploiting them. Stockholm syndrome.

I was simply having a conversation. I don't think it is necessary for you to make personal insults.
1-2-Follow

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07/05/2022 02:42 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
Who have we declared war on?
 Quoting: Remington


no one in decades, yet in a state of perpetual, never ending wars via executive action.

a crime that apparently is no longer punishable against the commander in chief of the military
Articles and "news" from liberal media shall now be known as catnip for libtards.

Truth is schilling in the empire of retards.

"Yep but for now we dub you toast guy." - AC520845

*PROCLAIMED PROPHET OF THE DOW* ®

Let me know when the climate STOPS changing, then i'll be worried.
JustmeTX

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07/05/2022 02:44 PM

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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
Justme
Anonymous Coward
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07/05/2022 02:46 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
 Quoting: Anonymous Coward 80727462


As negotiated by Jared Kushner.


 Quoting: Anonymous Coward 80804662


But then, when was the last time Trump or Kushner drove anywhere?
Or pumped their own gas?

They have never driven a car or paid for a gallon of gas.
NEVER.
 Quoting: Anonymous Coward 80804662




Anonymous Coward
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07/05/2022 02:47 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
 Quoting: Anonymous Coward 80727462


That was more than two years ago. Guess what? Circumstances have changed.

Regardless, this administration doesn't care. They didn't even pretend to care until Dems up for reelection kept whining that Biden's energy policies and all this climate change crap was destroying their chances in the mid-terms.
 Quoting: Anonymous Coward 75451672


That cut in production agreement that Kushner negotiated with the Saudis was in effect until May 1, 2022.
 Quoting: Anonymous Coward 80804662


Biden could've canceled or renegotiated any time he wanted.
 Quoting: Anonymous Coward 75451672


This was probably done when a barrel of oil was trading negatively at one point. Gas got so plentiful and cheap American oil companies were losing millions. It was hurting our own industry.
Anonymous Coward
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07/05/2022 02:47 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
 Quoting: JustmeTX


It’s this lame Russian shill again.

1rof1
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07/05/2022 02:51 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
...


That was more than two years ago. Guess what? Circumstances have changed.

Regardless, this administration doesn't care. They didn't even pretend to care until Dems up for reelection kept whining that Biden's energy policies and all this climate change crap was destroying their chances in the mid-terms.
 Quoting: Anonymous Coward 75451672


That cut in production agreement that Kushner negotiated with the Saudis was in effect until May 1, 2022.
 Quoting: Anonymous Coward 80804662


Biden could've canceled or renegotiated any time he wanted.
 Quoting: Anonymous Coward 75451672


Could he abrogate the agreement that Trump made with the Saudis?

How would the Saudis and OPEC respond if he could and did?
 Quoting: Anonymous Coward 80804662


Yes, Biden could do that. That's the benefit of being the much stronger overall partner in the agreement.

As for the Saudis and OPEC, they would likely do whatever made them the most money. With prices skyrocketing, their best interest would have been to increase production.

BOTH sides would have been better off. The Saudis certainly would have been. That strongly suggests that it's the Biden administration that wouldn't let them out due to domestic political considerations.
Anonymous Coward
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07/05/2022 02:53 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
 Quoting: JustmeTX


It’s this lame Russian shill again.

1rof1
 Quoting: Anonymous Coward 80804662


While I am more supportive of Ukraine than Russia I do agree with what he is saying in part. Maybe we should focus on fixing our own house before trying to fix others. That goes for giving foreign aid to ANY other country.
Anonymous Coward
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07/05/2022 02:53 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
 Quoting: JustmeTX


It’s this lame Russian shill again.

1rof1
 Quoting: Anonymous Coward 80804662


While I am more supportive of Ukraine than Russia I do agree with what he is saying in part. Maybe we should focus on fixing our own house before trying to fix others. That goes for giving foreign aid to ANY other country.
Anonymous Coward
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07/05/2022 02:53 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
 Quoting: JustmeTX


It’s this lame Russian shill again.

1rof1
 Quoting: Anonymous Coward 80804662


They sound like a commie too, advocating for socialist taxpayer funded subsidies for commodities, just like Russia does while they spend billions on their war.

Maybe they should use some of that money to reduce their 13% poverty level.
Anonymous Coward
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07/05/2022 02:53 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
 Quoting: Anonymous Coward 80727462


As negotiated by Jared Kushner.


 Quoting: Anonymous Coward 80804662


But then, when was the last time Trump or Kushner drove anywhere?
Or pumped their own gas?

They have never driven a car or paid for a gallon of gas.
NEVER.
 Quoting: Anonymous Coward 80804662





 Quoting: Anonymous Coward 77181307


Yes, it's another falsehood against Trump. He actually had a private car collection before running for president.
Anonymous Coward
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07/05/2022 02:55 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
 Quoting: JustmeTX


Stay where you are, and near a window.

:opshouse:
Anonymous Coward
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07/05/2022 03:00 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
My message to Biden.

Quit giving billions of dollars to Ukraine oligarchs that could have subsidized fuel prices in the US, housed and fed every homeless person in America, and rebuilt our failing bridges.

-Justme
 Quoting: JustmeTX


It’s this lame Russian shill again.

1rof1
 Quoting: Anonymous Coward 80804662


They sound like a commie too, advocating for socialist taxpayer funded subsidies for commodities, just like Russia does while they spend billions on their war.

Maybe they should use some of that money to reduce their 13% poverty level.
 Quoting: Anonymous Coward 80801092


Maybe some running water and toilets too. This is how socialist State subsidies work.

DeploraVision ™  (OP)

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07/05/2022 03:02 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
Who have we declared war on?
 Quoting: Remington


Russia needed $30 Billion to finance the war on Ukraine, so resident Joe was blackmailed to escallate the sanctions to drive up the oil prices so Putin had enough in his war chest to finance the war.

Russia is the winner in all of this because 2 years ago oil was at $39/barrel and gas was $2/gal, and Putin could not afford to attack Ukraine due to low oil prices.

resident Joe is just following orders from Putin because he is compromised.

Make sense now?

Only fools believe anything dementia Joe says.

bidenlizard
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Anonymous Coward
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07/05/2022 03:18 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
What do you expect Big Oil’s big money lobbying group to say?

Maybe they could comment on this as well.

June 2, 2014
Oil: $104.88 a barrel
Gas: $3.69 a gallon
Exxon's quarterly profit: $8.8 billion

July 3, 2022
Oil: $108.43 a barrel
Gas Price: $4.81 a gallon
Exxon's quarterly profit: $16 billion+
 Quoting: Anonymous Coward 80727462


Profit sharing:


 Quoting: Anonymous Coward 80804662


TRUMP-wng1
Anonymous Coward
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07/05/2022 03:20 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
That cut in oil production agreement that Kushner negotiated with the Saudis was in effect until last May.

We’re still feeling the hangover while paying Big Oil for record profits.


 Quoting: Anonymous Coward 80727462


April 2020

Anonymous Coward
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07/05/2022 03:36 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
Meanwhile, oil price collapses by nearly 10% after Biden posts tweet
Cardiak

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07/05/2022 03:44 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
Meanwhile, oil price collapses by nearly 10% after Biden posts tweet
 Quoting: Anonymous Coward 80613016


Had nothing to do with his tweets oil has put in a double top weeks ago and fell out of its 2 year upward facing wedge 2 weeks ago, retested to renter the wedge and failed. It will now come down hard, I’m expecting around $70 per barrel by elections this November.

From there Russia most likely puts in its next move which is to cut its production drastically by around 3-5 million barrels per day and send the price rocketing back up to the multiple hundreds. Until European and American citizens are begging their elected officials to make a deal and make the pain end
Cardiak

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07/05/2022 03:46 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
[link to www.tradingview.com (secure)]

FYI this was the double top and as for the 2 year upward wedge you must zoom way out on the daily back to 2020 daily low and you can see it fall out of the wedge, go up to test it and get rejected from rendering and now what we see here is a full collapse back to its last registered support zone which is in the 70s.
Anonymous Coward
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07/05/2022 04:05 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
I mean, the intern isn't wrong. Straight up price gouging. They'd still make plenty of profit at a more reasonable price. But greed is an ugly thing.
 Quoting: Anonymous Coward 83803228


AC wall street sets the price, its a commodity..

I think that tweet about taking Econ 101 is meant for people like you.

The average gas station makes 6 cents per gallon
Anonymous Coward
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07/05/2022 04:14 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
I mean, the intern isn't wrong. Straight up price gouging. They'd still make plenty of profit at a more reasonable price. But greed is an ugly thing.
 Quoting: Anonymous Coward 83803228


Venezualla tried price controls just before the collapse of their currency, now Venezuelans eat from garbage dumpsters because there are no jobs.

Without profit, there is zero incentive to produce. Free market supply and demand, and competition control prices, not some pathetic, demented socialist resident who pretends he got 81 million votes.

:bc1:

You didn't earn it, so stop being so greedy.

'The problem with socialism is that you eventually run out of other people's money.' -Margaret Thatcher
 Quoting: DeploraVision ™


I am no socialist. I try to avoid "ist" labels at any rate. The terms are so overused these days and mean nothing because of that. If I must chose one I'm more capitalist than anything.

People are hurting and meanwhile oil is making record profits. Is it really greedy on my end to call that out when the oil companies are in fact the ones who are greedy? They do deserve to earn money for their work of course. Gouging people is another thing and that's what they are doing. I find that indefensible.

It's more of a moral issue for me not a political one. I'm a bit of a naive dreamer. What can I say it's just my nature.

I hate Brandon and the stolen election. I just call things like I see them.

At the current rate we things are deteriorating we won't have much longer to argue about it anyways. The country and the planet as a whole is going to hell and a handbasket. And nothing is going to stop it.
 Quoting: Anonymous Coward 83803228


Oil FUTURES. Look it up. The resident has done everything in his power to cause fuel (and food) inflation, yet he can dangle a shiny object called 'greed' and your frontal lobe deflates it's blood supply?

Cancelling Keystone XL Canada pipeline, restricting new oil leases in the Gulf, Alaska and on Federal lands all caused oil futures to skyrocket in price. Increasing the royalties from 12.5% to 18.75% payable to the fat Federal Government is coming from YOUR wallet.

The royalty rate for new leases will increase to 18.75% from 12.5%. That’s a 50% jump and marks the first increase to royalties for the federal government since they were imposed in the 1920s.
[link to journalrecord.com (secure)]

Asking oil companies to increase refining capacity while simultaneously telling them fossil fuel will be eliminated is something only a fake resident with dementia can't figure out.

If you believe his lies, you deserve $20/gal gas.
 Quoting: DeploraVision ™


This guy gets it!
Anonymous Coward
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07/05/2022 04:26 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
i believe price gouging goin on one sector raise prices other sectors want piece of action raise their prices price controls needed biden
Green Shoots

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07/05/2022 04:41 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
I mean, the intern isn't wrong. Straight up price gouging. They'd still make plenty of profit at a more reasonable price. But greed is an ugly thing.
 Quoting: Anonymous Coward 83803228


So is stupidity
Anonymous Coward
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07/05/2022 04:51 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
What do you expect Big Oil’s big money lobbying group to say?

Maybe they could comment on this as well.

June 2, 2014
Oil: $104.88 a barrel
Gas: $3.69 a gallon
Exxon's quarterly profit: $8.8 billion

July 3, 2022
Oil: $108.43 a barrel
Gas Price: $4.81 a gallon
Exxon's quarterly profit: $16 billion+
 Quoting: Anonymous Coward 80727462


Please that's because it's basic math.

One 42 gallon of crude oil yields 19.4 gallons of refined gasoline. At $112/bar, that comes to $5.77 plus Fed Tax $.18 plus State Tax avg $.35 = $6.30. How are the Oil companies gouging people?

So they aren't price gouging anyone at the pump.

The profit comes from the rest of the oil that can't be made into gasoline. You know like.motor oil and other stuff Like that.

When you font know you should sit quietly and learn.
Anonymous Coward
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07/05/2022 05:04 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
I mean, the intern isn't wrong. Straight up price gouging. They'd still make plenty of profit at a more reasonable price. But greed is an ugly thing.
 Quoting: Anonymous Coward 83803228


So is stupidity
 Quoting: Green Shoots


anon
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07/05/2022 05:18 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
 Quoting: Anonymous Coward 80727462


As negotiated by Jared Kushner.


 Quoting: Anonymous Coward 80804662


But then, when was the last time Trump or Kushner drove anywhere?
Or pumped their own gas?

They have never driven a car or paid for a gallon of gas.
NEVER.
 Quoting: Anonymous Coward 80804662





 Quoting: Anonymous Coward 77181307


seem we have multiple relatives of presidents who are engaged in nefarious activities to enrich themselves an the two really big guys EH.
Anonymous Coward
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07/05/2022 05:21 PM
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Re: Oil Group trolls Biden’s Price Gouging Accusations: ‘Intern Who Posted This Tweet’ Should Take ‘Econ 101’
I mean, the intern isn't wrong. Straight up price gouging. They'd still make plenty of profit at a more reasonable price. But greed is an ugly thing.
 Quoting: Anonymous Coward 83803228


Venezualla tried price controls just before the collapse of their currency, now Venezuelans eat from garbage dumpsters because there are no jobs.

Without profit, there is zero incentive to produce. Free market supply and demand, and competition control prices, not some pathetic, demented socialist resident who pretends he got 81 million votes.

:bc1:

You didn't earn it, so stop being so greedy.

'The problem with socialism is that you eventually run out of other people's money.' -Margaret Thatcher
 Quoting: DeploraVision ™


venezuela eats from garbage dumpsters because they wouldn't let western oil companies steal their oil, so the west did what they do to countries that don't play ball...devalued their currency, caused food shortages, caused riots and rebellions, and tried to regime change the leader

same shit the CIA has been doing since the 50s to countries who won't surrender their resources

destabilize them and ruin them





GLP