Posted on 11/22/2021 11:47:07 AM PST by karpov
Looking for someone to blame for high and rising prices at the pump, Sen. Elizabeth Warren (D–Mass.) has found a familiar villain: big corporations.
During an appearance on MSNBC's The ReidOut on Thursday, Warren said price gouging is to blame for the pain that Americans are feeling at the gas pump these days. Amid rising inflation, the average price for a gallon of regular unleaded gasoline sits at $3.40 nationally, up from about $2.11 at this same time last year and higher than at any time since 2014. This, Warren argued, is great news for oil companies and their shareholders.
"Chevron, Exxon have doubled their profits. This isn't about inflation, this is about price gouging for these guys," Warren said as host Joy Reid nodded along. While Republicans are trying to score political points by talking about inflation, Warren says, the "oil companies say 'I think it's just another opportunity to make profits' and we need to call them out on that."
Warren is probably right that successful multinational corporations like oil companies do respond to shifts in the economy by finding ways to turn a profit. Because, well, that's what they have to do to keep being successful multinational companies. There's hardly anything shadowy or suspicious about that. You can put gas in your car this morning because oil companies are making a profit, whether Warren approves or not.
The price-gouging claim, however, is just wildly off base and smacks of political desperation. For months, Democrats claimed that dumping trillions of dollars into the economy during the COVID-19 pandemic—in the form of direct payments, expanded unemployment benefits, and other spending—would not trigger inflation. Then they claimed inflation was transitory.
(Excerpt) Read more at reason.com ...
Warren has been a commie long before the Dems adopted it as their platform.
the self-serving US Congress did this to pay
ChInA for the ELECTION FRAUD.
Remember when Trump was President and everything was cheap and plentiful.
The sad thing is their brain dead voter base will buy what ever absurd lie they are told rather then ever hold their Democrat political party masters accountable for their corrupt incompetence.
Oh yes, the Marxists have to roll out their asinine price controls as if that ever worked anywhere before.
Liz, why don’t you just retire, enjoy your ill-gotten millions, and leave the badly tattered fabric of the country alone. You have done enough damage.
Libtards screwing things up and blaming others as usual 🤪
She probably meant 'Price Scalping'...............
They tried the same thing in the 70’s and we were gifted with price caps. The old suppy and demand curve hates those things. The result was shortages. Companies will only sell the amount of something that they can make money on.
I learned about this concept in Econ 101. The prof was liberal but even he noted the idiocy of price caps.
Warren is just following the Commie Light playbook. Blame the producers. Then move on to price controls and rationing.
Full Commie occurs when the producers are denounced as “wreckers” and face criminal charges, or worse. Don’t think for a second that Warren and her friends won’t go there.
Followed closely by “hoarding.”
Don’t just blame them, bring the national guard to their warehouses and force them to distribute their goods.
WHAT bisiness did Warren EVER run???
WHAT business did Warren EVER run???
Does she know what a Balance Sheet is & how it is created???
How about Trial Balance????
They are raising prices because the government is raising their taxes. Who's gouging who?
Guess she has so much in her wampum belt she doesn’t notice like common squaws and braves that we hate paying more and getting less.
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