I honestly don't think Americans care about high gas prices (interview, leader)

[Sunbiz1]

Originally Posted by InformedConsent

I'm not seeing it.

Profit margins, Oil and Gas Production

2021 Q4: 7.67%
2022 Q1: 11.1%

For comparison purposes...

Kraft/Heinz (food)
2021 Q4: -3.83%
2022 Q1: 12.84%

Amazon
2021 Q4: 10.42%
2022 Q1: -3.30%

Walmart
2021 Q4: 2.33%
2022 Q1: 1.45%

Apple
2021 Q4: 27.94%
2022 Q1: 25.71%

Google (Android)
2021 Q4: 27.4%
2022 Q1: 24.17%

OK, thank you.

But again, domestic production hasn't dropped enough to justify the increase; and if we're not importing(per chart)...then??.

[Mathguy]

Originally Posted by djmilf

I've spent literally hours putting together other posts in the past with correct sourcing, and then have them usually dismissed as 'fake news' or nit-picked for a spelling or grammar mistake. I don't bother providing sources when the poster I respond to hasn't bothered to provide sources for their own content.

In this specific instance, the poster to whom I was responding provided absolutely no source for her information, and IMO was misapplying historical data to a current event.

Why are you holding me to a higher standard than her?

Their numbers aligned with other posted sources on this forum, yours do not.

Here is a source for the Oil and Gas Production industry. It's showing numbers very similar to Exxon's financials for the last few quarters.

Here is your source:
https://csimarket.com/Industry/indus...os.php?ind=602

Please note the NET Profit margin at 3rd row from bottom.


P.S. There is also something on this forum like established track record of posting accurate content. I may not agree with their conclusions but some posters have a good reputation for at least getting basic facts correct. That's not a drag on you fyi.

[Du Ma]

People still have to drive to work and drop off their kids from school even if gas is $10

They just have to cut other expenses like my dining out, family vacation, etc

The people who suffer the most are the poor who have nothing else to cut

[InformedConsent]

Originally Posted by Sunbiz1

OK, thank you.

But again, domestic production hasn't dropped enough to justify the increase; and if we're not importing(per chart)...then??.

We are importing.

"The United States remained a net crude oil importer in 2021, importing about 6.11 million b/d of crude oil and exporting about 2.90 million b/d."

https://www.eia.gov/energyexplained/...nd-exports.php

[Mathguy]

Originally Posted by Sunbiz1

https://www.eia.gov/dnav/pet/hist/Le...s=MTTNTUS2&f=M

This is what confuses me, if we're not importing; what is the true cause of it doubling at the pump?.

Great question.

The thing that always is a mess when it comes to looking at gas prices is the fixed tax from state and federal.

So Gas price = Product Cost + X.

For arguments sake let's say X is 60 cents.

So when gas goes from $3 to $4 the product itself really went from $2.40 to $3.40 which is an even larger increase.


The #1 driver is the input cost being oil prices. This graph shows how they move in a linked but lagged motion.

https://www.macrotrends.net/2501/cru...e-prices-chart

[Mathguy]

Originally Posted by InformedConsent

I'm not seeing it.

Profit margins, Oil and Gas Production

2021 Q4: 7.67%
2022 Q1: 11.1%

These numbers match the source I provided a few posts prior, 3rd row from bottom.

[RowingFiend]

OP is on some serious drugs if he thinks people don’t care about gas prices.

[InformedConsent]

Originally Posted by Mathguy

These numbers match the source I provided a few posts prior, 3rd row from bottom.

That's exactly where I got the info. Facts matter.

[Retroit]

People will only get upset when mainstream media tells them it is okay to get upset.

[Annandale_Man]

Originally Posted by tamajane

People must be comfortable financially. They are lined up at the expensive gas stations even, those over 5 dollars, when there are cheaper ones a couple blocks over. It's like they're showing off.

I only put "Tier-1" gas into my cars. I don't trust that "off brand" junk.