(06-15-2022 01:38 PM)Claw Wrote:  As I noted in another thread, this sounds like a move toward nationalizing the oil companies.

If this happens, would this lead to civil war? I mean it should because if it does happen, the USA is gone.

Could someone kindly explain to me exactly WTF is wrong with profits?

The opportunity to earn a profit from doing so is why businesses employ workers and take risks to produce the goods and services that our population wants and/or needs, and why entrepreneurs take even bigger risks to bring new and better ideas, or new twists on old ideas, to market. Take away that opportunity and the economy craters. See Venezuela, Cuba, USSR.

(06-15-2022 06:08 PM)Owl 69/70/75 Wrote:  

How much of the inflation prior to February 2022 was caused by Putin?

Please help me Gamenole. Themdems want less oil but when they get less they get mad and makes threats? I don’t understand.

(06-15-2022 06:18 PM)Owl 69/70/75 Wrote:  Could someone kindly explain to me exactly WTF is wrong with profits?

The opportunity to earn a profit from doing so is why businesses employ workers and take risks to produce the goods and services that our population wants and/or needs, and why entrepreneurs take even bigger risks to bring new and better ideas, or new twists on old ideas, to market. Take away that opportunity and the economy craters. See Venezuela, Cuba, USSR.

it depends ... if I can lay off workers/control costs due to lack of incentive to compete for demand, AND yield enough % output coupled with triple digit % price increases, yeah, I'd call that manipulating the market to my advantage...

again, I see no difference with *biden's EV policies ... please explain the difference ... the end result is the same, Ja?! #higherPrices

this is a different version of 'capitalism" ... and you know it.... the cuba/vz/ussr argument is bs....

"...are blunting the impact of the historic actions my Administration has taken..."

Such hubris from our demented and deranged narcissist-in-chief.

This administration is a perpetual dumpster fire.

Biden should understand this... If a company makes 10% profit they are going to make a lot more when gas is 5 dollars a gallon compared to when it is 2 dollars a gallon. Biden always wanted his 10%, shouldnt the oil companies get the same? Tired of hearing idiots complain about oil companies making record profits...

(06-15-2022 10:04 PM)memtigbb Wrote:  Biden should understand this... If a company makes 10% profit they are going to make a lot more when gas is 5 dollars a gallon compared to when it is 2 dollars a gallon. Biden always wanted his 10%, shouldnt the oil companies get the same? Tired of hearing idiots complain about oil companies making record profits...

Then are you also tired of people complaining about gas prices?

(06-15-2022 10:33 PM)bobdizole Wrote:  

(06-15-2022 10:04 PM)memtigbb Wrote:  Biden should understand this... If a company makes 10% profit they are going to make a lot more when gas is 5 dollars a gallon compared to when it is 2 dollars a gallon. Biden always wanted his 10%, shouldnt the oil companies get the same? Tired of hearing idiots complain about oil companies making record profits...

Then are you also tired of people complaining about gas prices?

What kind of comment is that? I guess it went over your head same as Biden. So you are saying the oil companies should drop their profit down to 5%? Did Biden drop his 10% fees down to 5% if there was more money at play? Well since Hunter is getting 10 mil this time, I wont take the full 10% I will just take 5%? Nope.

(06-15-2022 10:42 PM)memtigbb Wrote:  

(06-15-2022 10:33 PM)bobdizole Wrote:  

(06-15-2022 10:04 PM)memtigbb Wrote:  Biden should understand this... If a company makes 10% profit they are going to make a lot more when gas is 5 dollars a gallon compared to when it is 2 dollars a gallon. Biden always wanted his 10%, shouldnt the oil companies get the same? Tired of hearing idiots complain about oil companies making record profits...

Then are you also tired of people complaining about gas prices?

What kind of comment is that? I guess it went over your head same as Biden. So you are saying the oil companies should drop their profit down to 5%? Did Biden drop his 10% fees down to 5% if there was more money at play? Well since Hunter is getting 10 mil this time, I wont take the full 10% I will just take 5%? Nope.

I don't know what gibberish you are talking about with Sloe or Hunter, but since our domestic oil companies openly admit to pricing based off of the global oil market and they are shipping 1 million barrels a day of processed diesel on top of 7+ million barrels of crude overseas. It's a free market, they can charge what they want. But the US will never be energy independent as long as out domestic energy providers can base their pricing off of the global market and choose to sell to the highest bidder even if it's overseas.

(06-15-2022 10:33 PM)bobdizole Wrote:  

(06-15-2022 10:04 PM)memtigbb Wrote:  Biden should understand this... If a company makes 10% profit they are going to make a lot more when gas is 5 dollars a gallon compared to when it is 2 dollars a gallon. Biden always wanted his 10%, shouldnt the oil companies get the same? Tired of hearing idiots complain about oil companies making record profits...

Then are you also tired of people complaining about gas prices?

Go look up what the retailers “gas prices” make on a gallon of gas at the pump.

You may be surprised. Hope you bought a coffee and a couple Snoballs to help them out.

Here's what people either forgot or never heard. When he was 'campaigning' Joe said he was going to end fossil fuels. He promised the people who showed up (there were probably less than 20 there) that the energy companies wouldn't be able to drill. There's a video out there with him saying this. So, Joe HAS kept one campaign promise. He's trying to kill fossil fuels. No oil company will take the risk under these condition.

Now, of course, to sloJoe, it is all Putin's fault. He is the proxy for DJT and it's easy to blame Putin. Nothing is ever the fault of the dumbest former member of Congress.

The people he trots out to tell us this are also some of the least impressive people I've ever seen in government. I've seen AOC, Jennifer Granholm and even Fauxcohontas, Liz Warren all babble unintelligently about energy problems. Dummies, all of them, based on their viewpoints. Yet, stupid people will likely believe that energy companies are gouging them.

(06-16-2022 12:40 AM)MileHighBronco Wrote:  Here's what people either forgot or never heard. When he was 'campaigning' Joe said he was going to end fossil fuels. He promised the people who showed up (there were probably less than 20 there) that the energy companies wouldn't be able to drill. There's a video out there with him saying this. So, Joe HAS kept one campaign promise. He's trying to kill fossil fuels. No oil company will take the risk under these condition.

Now, of course, to sloJoe, it is all Putin's fault. He is the proxy for DJT and it's easy to blame Putin. Nothing is ever the fault of the dumbest former member of Congress.

The people he trots out to tell us this are also some of the least impressive people I've ever seen in government. I've seen AOC, Jennifer Granholm and even Fauxcohontas, Liz Warren all babble unintelligently about energy problems. Dummies, all of them, based on their viewpoints. Yet, stupid people will likely believe that energy companies are gouging them.

The bolded point above is what everyone needs to remember.

Here is Biden* in the final debate in Oct 2020 (oil issue starts at 55 second mark):





On the campaign trail, Biden* was a bit more direct on the oil topic. Here he is in September 2019:





And, of course, we all remember the slew of EOs Biden* signed on Day 1 of his Administration. Here is a recap of that:





So, the bottom line is Biden* attacked the oil industry from Day 1 and has not let up at all. He will continue the attack. These massive cost increases in oil, gas, and diesel are 100% on him. Nor will he back down, this is just the beginning.

Elections have consequences and illegal elections have serious consequences.

All US citizens, regardless of who they voted for or stuffed ballot boxes for, will simply continue to endure the attack on the US oil industry. And "endure" means paying the escalating prices of fuel and any goods that are shipped or transported in the USA like groceries, medicines, baby formula, building supplies, medicines, etc.

TOLERATE IT, AMERICA.

LET'S GO BRANDON!!

The oil companies and gas station are two different owners for the most part. It's not like hen standard Oil owned every station selling their brand. Most gas stations are independently own....or at least by a different company than their brand of gas.

Dont know about today but I remember reading an article a few weeks ago that gas prices were at a all time high compared to the price of oil. I believe it said that gas prices usually made up something like 58% the price of oil. Today it was a lot higher %

Another way to view this...if price was matching cost you would have record GROSS....not record profits. Oil companies are making record profit because their cost to get the oil to market is a lot lower than the selling price. The profit basically stops their because the cost and profits basically balance out at the pump.

Joe Biden Makes Pathetic Threat to Oil Companies, Exxon-Mobil Drops Him in Response

Quote:Amidst record prices, the White House has been desperately searching for a way to bring down costs without actually having to change its policy direction. That means lots of whining about supposed “price gouging” and threatening oil companies.

On Tuesday, the threats escalated to the use of emergency powers, specifically the Defense Production Act, to force oil companies to refine more gasoline.

President Biden will warn CEOs of the nation’s largest oil companies on Wednesday that he’s considering invoking emergency powers to boost U.S. refinery output, according to a letter obtained by Axios.

Why it matters: Biden’s direct engagement with the oil giants is part of an ongoing White House effort to tame fuel prices despite limited options — and cast oil companies as responsible for consumers’ higher bills.

It’s not the weekend, so I’m not going to just start posting memes describing how idiotic Biden’s threat is, and to be frank, I think everyone reading this is smart enough to know. Joe Biden isn’t smart enough to know, but you are.

While the president apparently believes he’s a king, refining capacity doesn’t care about emergency powers. As CNBC notes, refineries are already running over 90 percent of capacity, and no new ones have been built in decades, largely because of stringent federal regulations and inconsistent energy policies. Who would invest in a new refinery when you’ve got one party saying they want to shut it down in five to ten years? Then there’s the fact that the White House has pushed refineries to make environmentally-unfriendly, engine-damaging biofuel as part of its “climate” agenda.

Refiners can’t just ramp up output, with utilization rates already above 90%. Additionally, some refiners are now being reconfigured to make alternate products like biofuel.

After Biden sent his letter, Exxon-Mobil dropped him in response. The oil giant noted several inconvenient facts to the president’s narrative, even going so far as to discuss investments that have cost the company money in an effort to keep production going in this difficult (mostly government-caused) environment.



The statement is clear and concise, and while it’ll do nothing to persuade the climate hysterics, the facts within are undeniable. Despite the often-repeated claim that oil companies are just pocketing gobs of cash, Exxon-Mobil points out that they have invested double what they’ve made over the last five years. Contrary to the president’s notion that they are purposely holding back production, they have increased production by 50 percent.

But I think the most important part of the response comes at the end. While Biden hounds the oil companies to create a scapegoat for his failed policies, Exxon-Mobil is asking for “clear and consistent” policies. That’s really the key to this entire thing. When a president spends years saying he’s going to crush oil production and then enacts policies that do just that, the idea that it is now the fault of oil companies for not producing more is asinine. It’s a pathetic attempt by a feeble, old man to deflect blame for his failures.

Lastly, the statement specifically mentions the need for more infrastructure, such as pipelines. That’s a nod to Biden’s canceling of Keystone XL. After all, how are you going to refine more gasoline when the supply of oil is being pinched by the government? The president could greenlight Keystone today and it would have an effect on oil prices because the markets are speculatory. He won’t, though.

In the end, I think Americans know where the blame lies here. Biden’s weak attempts to escape responsibility will only harden the opposition to him.

(06-15-2022 06:06 PM)CrimsonPhantom Wrote:  

Desperate times call for desperate measures.... including openly begging.

This is all this administration thinks it has in it's arsenal and that is truly what is sad about this mess.

When the begging doesn’t work watch him start floating ideas like the govt taking the oil co’s over. Nationalizing the oil co’s.

All for the larger good, of course. And the people will mutter to themselves then applaud blindly.

It’s starting folks!!!

I cant think of one law that would withstand a SC challenge that would allow the government to take control of oil companies. Today this country is still a nation of laws and the highest court in the land would have the finial say. To get to the point of its a issues that the country needs to control/take over....

supplies would need to be very limited and that's just not the case

Can anyone point to a current law that would give the government this right? Logical law, not just because you think, they can