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Biden demands faster drop in gas prices as oil tumbles

HikerGuy83 said:
And they would not be if they had followed your desires.
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they can be profitable (which they are) in a number of ways.

one way to be more profitable is keeping production down.



and that money comes from you.
 
Biden is nothing but a bag of foolishness.

He understands less now than he used to.

And that was never very much.
 
CaughtInThe said:
they can be profitable (which they are) in a number of ways.

one way to be more profitable is keeping production down.



and that money comes from you.
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So go invest in an oil well.

I am sure you'll do great.

Let us know how it goes.
 
HikerGuy83 said:
So go invest in an oil well.

I am sure you'll do great.

Let us know how it goes.
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actually, i'm just gonna watch them take more money from you. i have more money than i'll ever need so it doesn't hurt me.
 
The inflation adjusted price of gasoline in 1918 is around $3.70/gallon.

We are no paying that now on average.
 
CaughtInThe said:
actually, i'm just gonna watch them take more money from you. i have more money than i'll ever need so it doesn't hurt me.
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I am sure I believe you.

Given you keen understanding of economics. :LOL:

Or did you decide that you didn't like the risk ?
 
Gasoline is inelasti
CaughtInThe said:
and so can horrible news (where they jack up the price immediately even though their inventory was bought at a normal price).

how do you not know that?
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They can't skyrocket prices if people don't buy at those prices.

I know about that.

Why don't you.
 
bullseyelqcs said:
They were making profits when prices were below 2 bucks a gallon....it just wasnt RECORD profits.
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There have been years on end where refineries ran cut back just to make contracts and see who would die out first.

IOW: They were losing money.
 
Cardinal said:
Um...yeah? The disparate responses to the change in price of oil validates the claims of price gouging.
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Who said there was any price gouging ?

Prices went up and people paid them.

You can always chose to stay home.
 
Helix said:
There should be a better public sector energy competitor, IMO. That would be a good way to fund our transition from fossil fuels.
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Please explain how a public sector competitor would work.

An oil company run by the government where they could stand to lose money (because the tax payers foot the inefficiency and stupidity) since the government will back it up.

Public Sector Competitor is an oxymoron.
 
Cardinal said:
Lots of people, and I'm one of them.
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But not enough to bring down prices....apparently.

If you don't like it, don't buy it.

I hear Schwinn is coming out with a great new line of bikes.
 
Who on this board starts threads about the poor oil companies when the price drops through the floor ?

Can you point me to one ?
 
Cardinal said:
Which has no bearing on whether it's price gouging.
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Because there is no price gouging.

Price gouging is simply a term used by some when their entitled little fanny's don't like paying more.
 
HikerGuy83 said:
But not enough to bring down prices....apparently.

If you don't like it, don't buy it.

I hear Schwinn is coming out with a great new line of bikes.
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Yeah. Or do what Biden’s transportation secretary, Mayor Pete, said to do: take the bus.
 
Trump was no genius.

But Biden.....takes stupid to whole new (low) level.
 
HikerGuy83 said:
I am sure I believe you.

Given you keen understanding of economics. :LOL:

Or did you decide that you didn't like the risk ?
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so the oil companies aren't taking more money from people like you?
 
Chomsky said:
www.cnn.com

Biden demands faster drop in gas prices as oil tumbles

President Joe Biden is using his bully pulpit to call out the tendency for gasoline prices to go up like a rocket when oil spikes, but only drop like a feather when crude crashes.
www.cnn.com www.cnn.com





--

Does Biden have a point?

It appears oil has been tumbling the last week, down 23%.
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I don't know precisely how gasoline prices are set, but it wouldn't surprise me at all for them to be artificially raised and kept higher than reasonable under the façade of it being due to the Russia vs. Ukraine thing.
 
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