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None of the $130 per barrel oil has reached a refinery yet. We are being gouged.

Gas prices are up 50 cents in a week. That's hundreds of millions a dollar a day for US oil companies. But none of them have had their costs go up remotely close to that. Oil companies are making record profits and giving billions to wealthy stock owners as buybacks.

We need a gas price freeze. It’s time for oil companies to pay for both their subsidies and they're gouging us over years. Let them pay for a change. Let their CEOs, Execs, Board, and stockholders suffer for a year or so. They won’t go broke like truckers, taxis, Lyft, etc.

It’s time to double down on going green. The cost of wind and sun is always the same. FREE. If the United States were 50% green it would be energy independent.
sunsporter1649 · 70-79, M
Gee, were we not energy independent just a year ago? Wonder what happened....
Baremine · 70-79, C
@sunsporter1649 Comrad Joe Dumbass Biden. The head idiot.
Randi1125 · 31-35, F
@sunsporter1649 @Baremine America must be the only country where the political leader gets the blame for gas prices. Oil is a commodity like gold or coffee, the influence of most individual countries is minimal - it’s global.
Randi1125 · 31-35, F
@Baremine You are absolutely bonkers.
I agree. When prices drop, there is a “waiting period” before prices are adjusted, but when oil goes up, the prices are affected immediately. It’s a scam.
Heartlander · 80-89, M
One word that leftist refuse to use is "volatile" when discussing oil prices. One piece of the oil distribution business that leftist never mention is "contract obligation" that a oil distributor may have to fulfill. Leftist ignore the above because they drive profit margins and leftist prefer to point to profit margins as being driven by "greed".

Leftist like to pretend that profit margins are just about selling price minus purchase cost. This accounts for why leftist are less likely to succeed in business.
@samueltyler2 It is because of the far-right playlist. Rule #237 states that anyone with a different opinion must be labeled with the term "leftist".
Heartlander · 80-89, M
@samueltyler2 margins have to increase to account for a volotile market. Suppliers buy now to fill orders later. If they fill their warehouse or tanks at $200 a barrel and 2 weeks later when they sell their products the cost fall to $100 a barrel they stand to lose their shirts. In an unstable market profit margins have to increase to cover the added risk.

There's also the contract buyers who negotiate the contracts months in advance. Airlines, railroads, government purchasers have to guarantee their supply and know in advance what they will pay. It all affects the price at the pump. The suppliers purchase and deliver the goods after the contracts are signed and likewise may have to spend $200 for what they sold for $100. There's risks and a whole futures marketplace to avert some of the risk, put the price of futures are likewise as volatile as the market itself.

Politicians like Biden who mouth off about profiteering without direct evidence are playing the emotions of those who are struggling and pitting us against one another. Shame on them.

Why do I refer to them as leftist? Simple, because the only people who believe what leftist politicians say are usually themselves leftist. Leftist politicians govern to their base and the coalition of their supportive bases, and not to the general population.

Does any non-leftist seriously believe that the high gas prices are ALL because of Putin?
samueltyler2 · 80-89, M
@Heartlander I am afraid you are not using any logic. Why do YOU think the price suddenly rose when Putin attacked? I understand the concept of planning for the potential increase in the cost coming to replace current supplies, but, this increase would have to be explained to me on the basis of projected costs. Yes, profit margins are important, but it seems as if every fuel company raised their product cars at the same time to the same amount. Does this not raise another issue? Now that prices of crude seem to be dropping, and projected costs are low, why do the prices at the pump not drop as fast. This is not leftist versus rightist, this is truth in dealing with the public?
No, what we need to do is tighten our belts and drive less & buy 2-3 gallons at a time. Even if it means going to the pump more often. This way you let the oil companies spend their money to hold YOUR gas. There is no need to be a pig and fill up every time.
Zaphod42 · 46-50, M
I feel like the oil companies should be required to actually use the 9000+ drilling leases they hold or loose them. That might get them in gear.
BackyardShaman · 61-69, M
They’d love it if they had time, but it would have zero effect on the gasoline prices.@Zaphod42
DeWayfarer · 61-69, M
What is totally ridiculous is the profits are far bigger than you are saying!

Your 3% figure is what comes from Russia before the ban. We actually still export more than we import!

https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php

The United States became a net annual petroleum exporter in 2020 In 2020, the United States exported about 8.51 MMb/d and imported about 7.86 MMb/d of petroleum 1, making the United States a net annual petroleum exporter for the first time since at least 1949


The price for our oil is unaffordable though and why we export it! It's cheaper to import foreign oil!

If we actually were to use our oil the prices would go up even more!
BackyardShaman · 61-69, M
Always happens this way
Jimmy2016 · 61-69, M
🤔....Gas prices are up $1.50 a gallon and $35 a barrel in Biden 1st year of office through 1/1/2022. And now it's going to get worse!
MonaReeves86 · 36-40, F
Doesn’t Americans have oil of there own why don’t they use their own recourses
Baremine · 70-79, C
@MonaReeves86 stupid ass Biden cut off our oil.
Randi1125 · 31-35, F
@Baremine Oh, here we go again. It's only my time to waste...
Graylight · 51-55, F
@Baremine Not your oil. Not cut off by Biden. Not the inside of your head - think before you type.
samueltyler2 · 80-89, M
Did you get out of Russia?
Let us not forget that the price of petroleum rises whenever war is feared.

I agree, however.
MethDozer · M
Devil's advocate. You price goods and mark up based on what it cost to restoke the the same item, not necessarily what you paid for it when you stocked it.


That said, I agree on a freeze.

 
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