Greedflation

[Lazaran]

View attachment 2334912

Hard data is a bitch.

Still, there isn’t much anyone can currently do to change the status quo.

President Biden hasn’t been hammering on the issue for various reasons (imho): 1) He’s trying to maintain the coalition of moderates and center left progressives - many who see America’s oil and gas industry as one of our greatest strengths - and 2) because many retirees rely on the stock market (and oil stocks in particular) for their retirements.



And of course, the oil and gas companies could always make things even worse on the consumer price front through various "necessary" actions ("refinery maintenance", etc) if the administration became more confrontational / adversarial.



It’s mainly up to the average citizen to call out the corporate greed and obscene compensation of executives. Politicians in this hyper-polarized evenly divided country don’t have much room to maneuver: Totally alienating even a fraction of the electorate could be the difference in November.

Great post!!!

 

[adrina]

 

[adrina]

 

[Pad_Foot]

Why are gas prices up now? A day after Iran fired missiles? Alllllll that has that had already been refined suddenly cost them more???

Absolute bullshit!!

It’s higher. Sure. But? It’s been over $100 in the past! It was never this expensive for us!!
Looking for graphs. Then I’ll adjust them UP for inflation!! Our governments don’t represent us!
https://tradingeconomics.com/commodity/crude-oil
They seem to lean in to supporting Republican economies.

US production up! https://oilprice.com/Energy/Crude-Oil/US-Oil-and-Gas-Boom-Poses-Challenge-to-Climate-Goals.html

 

[adrina]

Why are gas prices up now? A day after Iran fired missiles? Alllllll that has that had already been refined suddenly cost them more???

Absolute bullshit!!

It’s higher. Sure. But? It’s been over $100 in the past! It was never this expensive for us!!
Looking for graphs. Then I’ll adjust them UP for inflation!! Our governments don’t represent us!

US production up! https://oilprice.com/Energy/Crude-Oil/US-Oil-and-Gas-Boom-Poses-Challenge-to-Climate-Goals.html

Every crisis is used by corporations to jack up prices, regardless of the crisis's actual effect.

 

[Pad_Foot]

Every crisis is used by corporations to jack up prices, regardless of the crisis's actual effect.

Ahhh and then they blame the taxes on our addiction!!

Price never comes down!

All prices react to oil and then never come down. It’s not OPEC fucking is anymore!

 

[wizzard426]

OMG........a thread full of communists hating on PROFIT!

Ahahahaha!

 

[Pad_Foot]

Oil prices.. wayyyyyy back
Someone else can adjust for inflation
https://www.macrotrends.net/1369/crude-oil-price-history-chart

Gas vs crude prices
https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart#google_vignette

 

[adrina]

 

[desecration]

Government stimulus spending brought about stagflation, again. Just like during the Carter years.

 

[Lazaran]

And the corrupt orange traitor is promising to cut those price gouging, profiteering billionaire’s and corporation’s taxes AGAIN if re-elected.

https://www.google.com/search?clien...ate=ive&vld=cid:1fcb884e,vid:vOzAJOnJtHY,st:0



JFC

SAD!!!

 

[desecration]

Why are gas prices up now? A day after Iran fired missiles?

Risk drives up prices and there's a long tail.

 

[wizzard426]

The price is up because the EPA mandates that certain crude stocks can only be sold or refined outside of the USA, as a consequence we have to spend much more on imported politically correct oil

My costs didn't go up.Just one of the advantages of mineral rights............just another detail not found in the Shitties!

 

[ishtat]

The nonsense of Trickle down economics has eroded the value of lower incomes since Reagan. If re-elected Biden should remove the poorest 40 million as taxpayers entirely and restore former taxes on the wealthy. Poorer people spend their small increase in net income - because they have to, and the IRS will have more resources to chase the avoiders. Wealthier people will get their benefit with profit on increased purchases. Trickle up works , trickle down does not.

However, I do not think Biden has any more rational fiscal policies than Trump. 100 years ago Henry Ford gave his own workers significant increases which enabled them to buy the cars they made every day. In net terms he made more money.

 

[desecration]

The nonsense of Trickle down economics has eroded the value of lower incomes since Reagan.

Every time we cut taxes, everyone benefits except the mentally dysfunctional (homeless).

Cut the taxes.

 

[adrina]

 

[desecration]

The economy in that troubled decade was constrained by stagflation, a combination of low growth and high inflation, and Dimon said such a risk exists again.

"I worry that it looks more like the '70s than we've seen before," he added during a question and answer session with Marie-Josée Kravis, chair of the Museum of Modern Art and wife of KKR co-founder Henry Kravis.

"There are circumstances in which it'll look more like the '70s than what we've had for the last 20 years."

https://www.msn.com/en-us/money/com...onomy-is-headed-back-to-the-1970s/ar-AA1nwVvU

 

[RobDownSouth]

Saudi's Aramco has a vertical monopoly on gasoline in the southern central United States Shell-branded stations (basically east Texas through Alabama) and Shell's wholesale gas pricing has consistently begun to exceed the national average by 5% this year.

Price fixing? Allah forbid!

 

[desecration]

That would not explain the problems in other sectors.

But the Saudis, mess with our economy? NEVER!

 

[desecration]

More than 1 in 4 US adults over age 50 say they expect to never retire, an AARP study finds

 

[adrina]

 

[TastySuckToy]

When business profits are set to a fixed percentage of their gross income, inflation will lead to record profits even though the business isn't changing their percentage profit margin.

If you want cheaper prices for goods, implement policies and laws that make starting businesses as easy and cheap as possible, and hinders any attempts by larger business to become monopolies and corner the market (like constantly cranking up minimum wage levels).

The more businesses there are, the greater the competition for customers and their money, and the lower prices will go.

 

[adrina]

When business profits are set to a fixed percentage of their gross income, inflation will lead to record profits even though the business isn't changing their percentage profit margin.

If you want cheaper prices for goods, implement policies and laws that make starting businesses as easy and cheap as possible, and hinders any attempts by larger business to become monopolies and corner the market (like constantly cranking up minimum wage levels).

The more businesses there are, the greater the competition for customers and their money, and the lower prices will go.

Yeah... no.

 

[adrina]

 

[TastySuckToy]

Yeah... no.

You're against lower prices for consumers?