Oil refiners exploited the crisis': Report shows oil refiners are gouging California drivers (Iran, March)

[Mathguy]

Originally Posted by cuebald

And Biden controls what the oil companies do now? That's how it works in Venezuela, where the state owns the means of production and gasoline is $.61 a gallon today. All he would have to do is order more production.

Are you advocating Marxism now...?

You didn't even respond to what I wrote, you were blaming putin and I showed both global and Russian oil production histories with links.

[moneill]

Oil refineries were recovering their losses from 2020 and were also 'shoring' up their assets for their shareholders.

They have openly and proudly talked about this. It is no secret.

They have recent ramped up production to 2019 levels but the thing is ---- guess what -- demand is exceeding 2019 levels.

And oil companies aren't the only ones.

Every analysis done of corporations who have raised their prices, there is a significant hike in prices over and above the inflation rate and that is reflected in their profit margins.

We live in a capitalist economy and so our 'feelings' on companies using inflation, people's perceptions to raise their prices is legal and for most of us maybe not 'nice' but it is what it is.

[WRM20]

Originally Posted by 2sleepy

I'd love to see your source for that because the reality is that the newest refinery with significant downstream unit capacity in the US is Marathon's facility in Garyville, Louisiana. That facility came online in 1977 with an initial atmospheric distillation unit capacity of 200,000 b/cd. So if California is 'killing off every refinery project' you would expect all the other states to be picking up the slack and building refineries like crazy, right?

Garyville was the last grass roots refinery built in the US. It's been expanded a couple of times and has a capacity of 550,000+ bbls per day.. No one builds a new refinery these days, it's better to expand an existing plant.

California has lost some refining capacity as some were shut and others are being converted to biodiesel production.

[eddie gein]

Originally Posted by moneill

Oil refineries were recovering their losses from 2020 and were also 'shoring' up their assets for their shareholders.

They have openly and proudly talked about this. It is no secret.

They have recent ramped up production to 2019 levels but the thing is ---- guess what -- demand is exceeding 2019 levels.

And oil companies aren't the only ones.

Every analysis done of corporations who have raised their prices, there is a significant hike in prices over and above the inflation rate and that is reflected in their profit margins.

We live in a capitalist economy and so our 'feelings' on companies using inflation, people's perceptions to raise their prices is legal and for most of us maybe not 'nice' but it is what it is.

You have to love these guys.

Apparently, Biden's attempt to "destroy" the oil industry has resulted in record profits.

Well.... on second thought, these righties always claim that Biden can't do anything right.

[Roboteer]

Originally Posted by done working

Calif environmental wackos kill every refining project for the last 4 decades - they get what they deserve due to no competition.

Plus California state govt requiring special blends of gasoline that are only made for a few states. Bingo - instant price increase.

Many years ago a guy in San Diego rented an 18-wheeler tank truck and was ready to drive it to Arizona and fill it up where gasoline was maybe half the price of the gas sold here, intending to come back and sell it to people here for much lower price that they were paying for California gas. Found out at the last minute that it was ILLEGAL to bring out-of-state gasoline into California for resale.

Who cares that the Constitution gives the power to regulate interstate commerce to the Congress only, thus forbidding it to the states?

Leftists hate competition, even more than they hate the Constitution. High prices are a direct result.

[WRM20]

Originally Posted by Roboteer

Plus California state govt requiring special blends of gasoline that are only made for a few states. Bingo - instant price increase.

Many years ago a guy in San Diego rented an 18-wheeler tank truck and was ready to drive it to Arizona and fill it up where gasoline was maybe half the price of the gas sold here, intending to come back and sell it to people here for much lower price that they were paying for California gas. Found out at the last minute that it was ILLEGAL to bring out-of-state gasoline into California for resale.

Who cares that the Constitution gives the power to regulate interstate commerce to the Congress only, thus forbidding it to the states?

Leftists hate competition, even more than they hate the Constitution. High prices are a direct result.

The Feds regulate interstate commerce, true, but states can still regulate what gets sold in the state.

[2sleepy]

Originally Posted by Roboteer

Plus California state govt requiring special blends of gasoline that are only made for a few states. Bingo - instant price increase.

Many years ago a guy in San Diego rented an 18-wheeler tank truck and was ready to drive it to Arizona and fill it up where gasoline was maybe half the price of the gas sold here, intending to come back and sell it to people here for much lower price that they were paying for California gas. Found out at the last minute that it was ILLEGAL to bring out-of-state gasoline into California for resale.

Who cares that the Constitution gives the power to regulate interstate commerce to the Congress only, thus forbidding it to the states?

Leftists hate competition, even more than they hate the Constitution. High prices are a direct result.

It's not about competition, it's about decreasing pollution. If you are old enough you might remember the orange sky in LA in the 70's and 80's. It was impossible to be outside without your eyes watering and coughing. When I was a kid I lived close to Standard Oil, all the kids would play outside until around 5PM when they released huge clouds of Sulphur, you could barely see let alone breathe. And I don't think requiring a certain gas blend violates any interstate commerce law, if that were true then I guess it would be legal to drive truckloads of Marijuana into a state where it's illegal, right?

[Toyman at Jewel Lake]

Originally Posted by V8 Vega

Idiot Biden just canceled oil leases in Alaska and the Gulf of Mexico. Biden is 100% the reason for high gas prices and inflation.

He also tightened environmental regulations on refineries, driving smaller ones out of business that couldn't afford to upgrade to meet the capricious new standards. Obama campaigned on destroying the coal industry, Biden on the oil industry. These are some of the few campaign promises they have kept. Well that and Biden telling American workers "I don't work for you". No question about that one.

[WRM20]

Originally Posted by Toyman at Jewel Lake

He also tightened environmental regulations on refineries, driving smaller ones out of business that couldn't afford to upgrade to meet the capricious new standards. Obama campaigned on destroying the coal industry, Biden on the oil industry. These are some of the few campaign promises they have kept. Well that and Biden telling American workers "I don't work for you". No question about that one.

What regulations on refineries were tightened? How long was the public comment period? What specific refineries were closed?

The President can't just arbitrarily change regulations. There's a whole set of laws around that process.

[Icy Tea]

They know they have Biden bending over for them despite his rhetoric so they can do as they please. Everybody knows he's a pushover, EVERYBODY. Maybe Hunter is getting payola for him from them, who knows.