How long are these wholesome oil and gas industries gonna price gouge the public? How many stock buybacks do they want? Greed never ends.
Please everyone: acknowledge that there is a process of purchasing crude, transport the crude to the refinery, refining the crude to gasoline, transporting the gasoline to a consumer station. Believe it or not this doesn’t happen instantaneously. It takes time, usually known as lag time in a process.
So crude oil price can come down, but the gas station is purchasing gasoline that was refined from higher priced crude. In Jacksonville, FL that lag time for gasoline pump prices to reflect a change in crude prices has been about 7 days. I use oilprice.com for prices of crude oil and wholesale gasoline.
So proceed with another subject that @castoli is outraged and wishes to vent to all of us.
And another subject he knows nothing about
I don’t know bros, I heard there was an international price fixing cartel.
Refining capacity is down about 1 million barrels per day in the US since 2020. This downturn is a result of COVID demand destruction, and oil and gas firms pivoting assets toward alternative fuels on the heels of public desire for a broader energy menu. US refining, specifically on the Gulf Coast, has been maxed out for nearly two months and a refinery is a decades-long multi-billion dollar investment. When you have an administration that openly and continuously touts an ambition to end fossil fuel consumption as soon as possible, it doesn’t exactly encourage long-term investment.
With very little optimism for realizing return on investment in the current political environment it is not likely that building a major refinery will be ventured.
Just know that the public is being price gouged as usual. And all the cheerleaders for the “free-market” come out to make excuses.
But ignore the major uptick in profit margin and make excuses.
Biden will do nothing because he is a corporate politician. His role is to keep the status quo.
Would they really want to increase supply?
Considering the limitation, isn’t that question moot.
Dude’s angry at life. Seems miserable
Put your money where your mouth is… Venezuela is >>>> way. Funny… Your kind never seem to leave this terrible country
Why should I have to?
It’s okay to stay. It’s our fault for engaging your whining.
Because I can see things are wrong and can be much better, that is called whining. If I complain about the price gouging of any industry. I’m complaining. You’re damn right. Much better than having a bad case of Stockholm Syndrome for extremely wealthy people, who always want more, like most people on this forum. Just brainwashed!
And sometimes a change for the “better” actually results in a worse condition.
“Today’s problems come from yesterday’s solutions.” Peter Senge (from 11 Laws of Systems Thinking)
And what exactly were yesterday’s solutions?
Have you read Peter Senge’s “The Fifth Discipline”? If not, buy it and get back with me.
Solving convergent problems is relatively easy.
It takes systems thinking to attempt to solve divergent problems.