Posted on 05/21/2022 9:06:38 AM PDT by rktman
(No search results) The price of gas keeps rising.
“The reason for that is because of Putin's war,” said President Joe Biden.
But that's impossible. Most of the price rise came before Putin attacked Ukraine.
So some politicians simply blame “corporate greed.”
Sen. Sheldon Whitehouse accuses the oil industry of collecting “excess profit.”
Sen. Elizabeth Warren even introduced a bill to ban “price gouging.”
This is just economic ignorance, as my new video explains.
“If big oil could raise prices anytime they wanted and get away with it, then why were they so cheap in 2020, 2019, 2018?” asks the Competitive Enterprise Institute's Ben Lieberman.
Lieberman points out that companies are always greedy. Greed didn't just start now. They were just as greedy when gas prices fell in 2019 and early 2020.
“It all comes down to cutting back on supplies,” says Lieberman.
It's not complicated. Prices change because of supply and demand.
During the COVID-19 pandemic, fewer people drove, and demand for gasoline dropped. So did its price. Oil drillers then did less drilling. Now demand is up because people are driving again.
But it takes time for producers to adjust.
“It takes months, not days, for a company to increase production,” says Biden.
I'm relieved that the president understands that, but he ignores how his own policies reduce production and raise the price of gas. He didn't mention that when he canceled a long-planned sale of offshore oil rights this week.
Activists want Biden to also kill a pipeline that would bring oil from Canada to Wisconsin. They've already delayed it five years. They delayed the Keystone Pipeline for 16 years, until Biden killed it altogether.
(Excerpt) Read more at newsbusters.org ...
The state of Colorado voted to protect the crude oil industry which was the largest industry in Colorado. When our new governor took over the first thing he did was to sigh a bill which crippled the oil industry.
Started on Day One...when Brandon shut down Keystone.
Supply and Demand, even a damned dumb Democrat should be able to understand that?
Just think, not too long ago we were energy independent. I wonder what could possibly have happend. /S
Gas prices are ridiculously high because politicians are radically more greedy and power hungry than people who run our energy companies.
Buffet told him to do it and he did.
Vanderbilt would agree.
Tard nation hasn’t a clue.
they absolutely understand
this is on purpose
to make wind, solar and unicorn farts competitive
you have to have extremely high oil prices
destroying the petro business is priority #1.
—
on the list of things needed to destroy America
Nope. It all start from their belief all that all rights are derived from what government allows.
Therefore, government supplies; the people demand. Them being the government, they know what is best for us and the planet.
“Supply and Demand, even a damned dumb Democrat should be able to understand that?”
No, they call it “price gouging”. They do not grasp the concept of supply and demand. To them it isn’t ”fair”.
One of the first things democrats did when they got control of the house.
Wealthy psychopaths just don’t care.
Yep.
This is all intentional.
The con is this has something to do with the environment or green.
Mostly it’s about robbing America blind.
When prices soared, producers used the higher revenues to shore up their balance sheets and pay out dividends to their investors.
Elizabeth Warren couldn't run a lemonade stand.
Much of what has been said it is noteworthy and probably correct. But don’t rule out the speculators. The speculators made this really worse, it was probably bad enough as it was but speculators got to speculate. Yes?
This con has only one purpose. To destroy the middle class. The rich will get richer, the poor will get poorer, and the middle class pays for in until they are also poor. It’s called a two class society which is authoritarian.
“How, exactly, did they do this? Please explain ... I’ll wait ...”
Oil futures. purchase a certain amount of a Commodity — in this case oil — at a fixed price [source: CFTC].
Futures offer purchasers an opportunity to speculate (bet) on commodity performance.
Buyer receives a barrel of oil for the price agreed upon in the futures contract,
even if the market price was higher when the barrel was actually delivered.
It’s a component of the entire equation. It doesn’t get a lot of coverage. I wonder why?
With UAE, VENEZUELA buying forays by the admin, pricing is not static, further speculation at higher market driven pricing to follow.
The mob came to America.
The mob learned how to influence the police, the the politicians, then they became the politicians.
Then , from there it really took off.
Our whole economy is the victim of a giant world shakedown.
This is socialism....yay
There is no conspiracy. it’s just some people get rich by robbing others.
A mass crime wave.
There is no push back....that is our problem.
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