Biden Calls for Probe of Oil and Gas Companies

[applegrove]

Biden Calls for Probe of Oil and Gas Companies

November 17, 2021 at 10:41 am EST By Taegan Goddard 27 Comments

https://politicalwire.com/2021/11/17/biden-calls-for-probe-of-oil-and-gas-companies/

"SNIP.....

“President Biden asked the Federal Trade Commission on Wednesday to consider whether ‘illegal conduct’ by large oil and gas companies is pushing up gasoline prices for American consumers, the latest effort by the administration to target concentration in the energy industry in a bid to bring down prices at the pump,” the New York Times reports.

......SNIP"

[spanone]

1. Prices went up when Texas froze - February 10-27, 2021 (2 weeks and 3 days)

and they never came back...

https://en.wikipedia.org/wiki/2021_Texas_power_crisis

[applegrove]

2. There is no reason why US oil and gas has to follow OPEC prices.

That's a cartel. Doesn't the US produce most of its oil and gas?

[global1]

3. Biden's Probe Should Be Expanded To All Businesses.....

Since the American People were given the extra money payments during the pandemic - I called it that this was going to happen - prices on everything would be going up.

It was a chance of businesses everywhere to raise prices and get their hands on that extra money that was going to be circulating in the economy.

My hunch is that a lot of the inflation numbers we're seeing is just out and out 'greed' by businesses. They want to get their hands in our back pockets. Their mindset was to see how fast that they can deplete that extra cash that people were given and how quick they could get their numbers up by fleecing Americans.

The shipping backlog. The trucking issues. The supply issues. Etc. In my mind are all just (as they see it) good excuses for businesses to raise prices and blame it on first 'on the pandemic' and second on Biden and the Dems.

Anyone else have any thoughts on this?

[moondust]

4. +1

Opportunities knocked and they cashed in.

[Bluethroughu]

5. It's all excuse to make President Biden look bad and the bonus is

The price gouging for profit. These monopolies are working against the country and its economy. They should be investigated and prison should be mandatory for the board of directors for companies partaking.

If corporations are people their boards should serve time for breaking any law.

[applegrove]

7. 60 Minutes did a story on this. There is a pileup of containers

at ports. The warehouses for businesses around the country are pretty empty. And some places where containers are waiting for a truck are charging extra rent to the people who ordered the product for their businesses. Then they pass on that extra cost to consumers.

[Backseat Driver]

6. Bottle-necked resource supply chain gougers,

loss of tanker drivers, higher new hire/benefit costs, OPEC, et al "petrodollar" contract clauses...CoVid-19 fear of future disease surges; I'd imagine every sort of reason including "nothing personal, just planning ahead" in the fantasy fascist chaos-approved minds of plenty of the most fortunate of business-interested fossil-fuel product owners/stakeholders, insecure pump and dumpers, and climate-change skepticals and deniers, not to mention really bad weather systems. There's likely a bit of investment monetary policies initiated by the FRS/ central banking systems too, maybe? Possibly other P.O'd covert shell company user stashes revealed by Pandora Paper journalists? Wouldn't opening up the national reserve somewhat help curb the higher consumer pricing in the US as well as trending higher inflation? Hey, less infrastructure and BBB; well then...let the high fossil-fuel cost investigations begin! We have to do better if there are those that would be scamming the market in their own greed and/or preservation and wealth maintenance schemes to steal.

[LetMyPeopleVote]

8. President Biden has asked the FTC to examine why prices at the pump aren't going down

Link to tweet

[uponit7771]

9. K&R,