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

[WRM20]

Originally Posted by done working

oh please we know the reason and so do you but you want to argue that biden has not done anything to cause the huge increases in crude.

Biden has had little or no effect on the price of oil. There is little he can do to affect oil prices in any case.

[NORTY FLATZ]

Originally Posted by WRM20;64345995[B

]Biden has had little or no effect on the price of oil.[/b] There is little he can do to affect oil prices in any case.

Go back and check Biden's first few hours as President. Focus on some of the Executive Orders he signed.

There, you should find evidence that, yes, he DOES have some culpability in the cost of fuels.

The rising costs of other things? Well, if fuel was used to create/transport those items, then yes, Biden is directly responsible for those price changes as well.

When someone says "Oil is the "life blood" of the US (or World) economy" it isn't a flippant remark.

Oil touches darn near everything, at 1 time or another. Most things, numerous times.

[V8 Vega]

Bidens inflation. Kroger oatmeal was $3 now $4.50

[WRM20]

Originally Posted by NORTY FLATZ

Go back and check Biden's first few hours as President. Focus on some of the Executive Orders he signed.

There, you should find evidence that, yes, he DOES have some culpability in the cost of fuels.

The rising costs of other things? Well, if fuel was used to create/transport those items, then yes, Biden is directly responsible for those price changes as well.

When someone says "Oil is the "life blood" of the US (or World) economy" it isn't a flippant remark.

Oil touches darn near everything, at 1 time or another. Most things, numerous times.

Biden did NOTHING to increase the price of oil. Nothing. Nothing at all. It's not that hard to understand.

[GuyInSD]

Originally Posted by WRM20

Biden did NOTHING to increase the price of oil. Nothing. Nothing at all. It's not that hard to understand.

note to self:
restricting supply has no effect on price....
"...moratorium on all activities of the Federal Government relating to the implementation of the Coastal Plain Oil and Gas Leasing Program...withdrawal of certain offshore areas in Arctic waters and the Bering Sea from oil and gas drilling..."

[WRM20]

Originally Posted by GuyInSD

note to self:
restricting supply has no effect on price....
"...moratorium on all activities of the Federal Government relating to the implementation of the Coastal Plain Oil and Gas Leasing Program...withdrawal of certain offshore areas in Arctic waters and the Bering Sea from oil and gas drilling..."

None of those had any impact on current production. After a Federal lease sale, it is at least 10 years before any hydrocarbons are produced from a leased area, unless it happens to be immediately adjacent to an already producing block.

[V8 Vega]

If biden had nothing to do with the price of gas then why did it shoot up immediately after he was in? Of coarse he did and Biden is the reason gas is twice as expensive as it was when Trump was in.

[WRM20]

Originally Posted by V8 Vega

If biden had nothing to do with the price of gas then why did it shoot up immediately after he was in? Of coarse he did and Biden is the reason gas is twice as expensive as it was when Trump was in.

What did Biden do to increase the price of fuel?

[NORTY FLATZ]

I give up.

[CA4Now]

Oil companies brought in staggering profits once again as people worldwide struggled with high gasoline and energy prices.

Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income. The Irving, Texas, company said Friday that it booked $112.07 billion in quarterly revenue, more than double the revenue it received last year during the same period.

Chevron had $11.23 billion in profits, almost reaching the record profits it attained last quarter, and the San Ramon, Calif., company brought in $66.64 billion in revenues.

...Chevron’s (refining businesses) said its $11.2-billion quarterly net income was the second-highest in company history, surpassed only by the previous quarter when it report more than $12 billion in net income..

https://www.latimes.com/business/sto...-steep-profits