Price of gas

rgkv

old timer
Nov 14, 2005
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I can't understand , after ExxonMobil reported that second quarter profits DOUBLED to over 14 billion, that the price of gas at the pumps goes up..what kind of bs is this. Why is this being allowed. Out and out open rip off
 

squeezer

Well-known member
Jan 8, 2010
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It's the same with groceries. The companies have an excuse to jack prices up, so they take full advantage. Protein, whey or casein just as an example, has doubled in price lately. They claim a shortage of protein because of the high demand.

Gas is going down 12 cents tomorrow, so do not fill up today!!!!
 
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oil&gas

Well-known member
Apr 16, 2002
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Ghawar
I can't understand , after ExxonMobil reported that second quarter profits DOUBLED to over 14 billion, that the price of gas at the pumps goes up..what kind of bs is this. Why is this being allowed. Out and out open rip off
It is just Exxon's way of telling people to burn less fossil fuel
to save Earth's climate. ExxonMobil is committed to emission
reduction to zero eventually to reverse climate change.

 

rgkv

old timer
Nov 14, 2005
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It is just Exxon's way of telling people to burn less fossil fuel
‐‐-‐‐-------------,,-
It is just Exxon's way of telling people to burn less fossil fuel
to save Earth's climate. ExxonMobil is committed to emission
reduction to zero eventually to reverse climate change.

Sure, you go with that idea. But first they need to line their pockets
 

Frankfooter

dangling member
Apr 10, 2015
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It is just Exxon's way of telling people to burn less fossil fuel
to save Earth's climate. ExxonMobil is committed to emission
reduction to zero eventually to reverse climate change.

Exxon and everyone in the oil$gas industry should pay for all climate change damages.

 
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WyattEarp

Well-known member
May 17, 2017
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It is just Exxon's way of telling people to burn less fossil fuel
to save Earth's climate. ExxonMobil is committed to emission
reduction to zero eventually to reverse climate change.
I'm not sure how serious you are, but price signals are very important and necessary for proper supply and demand adjustments.

One of the things that I realized early on in the Iran conflict is the higher, permanent risk premium for Mideast oil.
This will cause Mideast producers to build infrastructure to bypass the Strait of Hormuz when possible.
Global oil producers will respond with higher output. Yes, that means Canada, the U.S. and even Venezuela in the long-term.
(North America is an energy citadel.)
This is now being discussed in economic commentary.

Now it's possible but not likely the Iranian regime turns a new leaf and looks to an outcome that stabilizes the region's oil supply, but I don't think that will happen anytime soon. The Mideast risk premium will exist for quite some time.

Having said that, I am sympathetic to the idea that oil-rich countries like the U.S. and Canada can and should alleviate the pain from high gas prices caused by the conflict. That means temporary price controls or taxation. We used to call such Big Oil's gains windfall profits.
 

Frankfooter

dangling member
Apr 10, 2015
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oh you mean the fires that have been started by an arson or careless campers....or the forest fires that have been an annual event since the dawn of time.

You think carbon dioxide, the gas of life, found in trace amounts heats the planet is laughable LOL
Its always amazing to see that there are people who are so clueless that they haven't noticed the world changing around them.
 

Butler1000

Well-known member
Oct 31, 2011
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I can't understand , after ExxonMobil reported that second quarter profits DOUBLED to over 14 billion, that the price of gas at the pumps goes up..what kind of bs is this. Why is this being allowed. Out and out open rip off
Because that's capitalism.
 

Butler1000

Well-known member
Oct 31, 2011
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I'm not sure how serious you are, but price signals are very important and necessary for proper supply and demand adjustments.

One of the things that I realized early on in the Iran conflict is the higher, permanent risk premium for Mideast oil.
This will cause Mideast producers to build infrastructure to bypass the Strait of Hormuz when possible.
Global oil producers will respond with higher output. Yes, that means Canada, the U.S. and even Venezuela in the long-term.
(North America is an energy citadel.)
This is now being discussed in economic commentary.

Now it's possible but not likely the Iranian regime turns a new leaf and looks to an outcome that stabilizes the region's oil supply, but I don't think that will happen anytime soon. The Mideast risk premium will exist for quite some time.

Having said that, I am sympathetic to the idea that oil-rich countries like the U.S. and Canada can and should alleviate the pain from high gas prices caused by the conflict. That means temporary price controls or taxation. We used to call such Big Oil's gains windfall profits.
My god! You mean the Free Market! You Commie Bastard!

Next You will say, oh, HEALTHCARE is too important to human beings and should also be GOVT price controlled! MONSTER!
 

southpaw

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May 21, 2002
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One of the things that I realized early on in the Iran conflict is the higher, permanent risk premium for Mideast oil.
So why start that conflict? The oil was flowing smoothly through the strait before it began. We were all enjoying the benefits of it.
 
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WyattEarp

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May 17, 2017
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So why start that conflict? The oil was flowing smoothly through the strait before it began. We were all enjoying the benefits of it.
Why ask questions you know the answer to?
As a rhetorical device, it's greatly overrated.
 

southpaw

Well-known member
May 21, 2002
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Why ask questions you know the answer to?
As a rhetorical device, it's greatly overrated.
Point taken. Allow me to restate the question. Why should all of us suffer for the sake of one small state of ten million people?

The population of the West is close to one billion people (North America and Europe). I'm not even considering Asia or Latin America, and I'll bet they're suffering too.
 
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WyattEarp

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May 17, 2017
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Point taken. Allow me to restate the question. Why should all of us suffer for the sake of one small state of ten million people?

The population of the West is close to one billion people (North America and Europe). I'm not even considering Asia or Latin America, and I'll bet they're suffering too.
You can see the Saudis are making overtures for nuclear power.
Their stated policy is if Iran has nuclear weapons we will purse nuclear weapons.
That's not even mentioning Iran's long-range missile program.
Iran can reach Israel right now without the program.,

Sure, Israel is a part of the equation but there is a lot more going on in the region.
 
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