[pepsi_junkie]

I suspect that what is happening with profits is that oil companies buy the oil at market values, refine it and sell it (at a later date after refining and transport) and Lo! market prices are higher now so gas prices are higher too. And hence they make a profit. In other words, they are selling gas at higher prices than the oil that it came from. But the oil is also more expensive now so all that money goes to buy more oil. In the temporary state, they show a big profit but it's at least somewhat a function of the marget price differential between the time they bought the crude and the time it goes to market as gasoline.

If that's the case it's a fake issue because eventually prices come down and they get stuck selling gas at a low price made from oil they paid a high price for.

[Presbyterian Reporter]

“””that oil companies buy the oil at market values, refine it and sell it (at a later date after refining and transport)”””

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Contrary to what you wrote, the oil companies do not have massive storage tanks to play the market for a higher price.

It pretty takes 30 days for domestic oil production to go from the wellhead, through the refinery, and into a gas station tank.

For foreign produced oil it takes 60 days.

The oil industry pretty much operates on a constantly flowing pipeline from below ground to the nozzle inserted into your car.

[pas]

Their profits are driven by the price of oil. It does not cost them any more to get it out of already sunk wells now than it did under Trump. The big difference is now they get more for it.