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hueymahl

(2,447 posts)

21. We really need some economic education around here

Wed May 18, 2022, 04:25 PM

May 2022

We really need some economic education around here.

BP’s profits have exactly 0 to do with the price of gas in oil. They are propers increased because wells that were losing money or were marginally profitable are now highly profitable.

They are selling into a global market. Their market share is tiny compared to the size of the market and have almost no ability to affect its price. So complain about profits and low tax rates on corporations, but don’t confuse it with how the market works.

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Here is one reason we have high gas prices. [View all] 40RatRod May 2022 OP

K&R, yes ... 100% greedy because their profit ***MARGIN*** has gone up along with top line profits. uponit7771 May 2022 #1

60 votes not in Senate to overcome GOP filibuster of Gas Price Gouging Bill TheBlackAdder May 2022 #28

Predatory Capitalism is who to blame for inflation! Emile May 2022 #2

That's the main reason FoxNewsSucks May 2022 #3

BP reported a $20.4B LOSS in the quarter. So greedy! Those greedsters! mathematic May 2022 #4

Here is another per the NY Times 40RatRod May 2022 #7

Here's more info from cnbc: spooky3 May 2022 #11

BP reports bumper first-quarter net profit, but posts massive loss on hit from Russia exit Celerity May 2022 #29

BP is counting its hit from Rosnet uponit7771 May 2022 #33

High gas prices is how they made Carter a one term president. broiles May 2022 #5

I'm afraid your right FloridaBlues May 2022 #6

That along with DENVERPOPS May 2022 #22

Here's another: maxsolomon May 2022 #8

That's Crude Oil ProfessorGAC May 2022 #12

So, speculators. maxsolomon May 2022 #14

It Seems Totally Appropriate, To Me ProfessorGAC May 2022 #19

PPB was over 100 in 2011-15 and gas prices, set by big oil, was not this high uponit7771 May 2022 #34

See replies 12 & 19 maxsolomon May 2022 #38

Greedy! Greedy! Greedy! Preying upon the Needy! calimary May 2022 #9

Why don't I just go eat some hay? LiberatedUSA May 2022 #13

'Kay. yagotme May 2022 #40

Recommended. H2O Man May 2022 #10

Except That It's Not ProfessorGAC May 2022 #16

You are right. H2O Man May 2022 #18

Wow, I had no idea! ShazzieB May 2022 #20

I've Posted This Several Times ProfessorGAC May 2022 #26

Oil has traded above $100 barrel before... SergeStorms May 2022 #24

Agreed! ProfessorGAC May 2022 #25

THIS !!!! ☝🏾☝🏾☝🏾 2011-15 oil was over 100 a barrel at clips and we still never paid this close to uponit7771 May 2022 #30

Oil companies are deliberately trying to overcompensate from 2020 losses IronLionZion May 2022 #15

+1, uponit7771 May 2022 #31

Just bought an electric bike. MySideOfTown May 2022 #17

We really need some economic education around here hueymahl May 2022 #21

Then how are they making such high net profit ***MARGINS*** come on, we see their 10ks !! uponit7771 May 2022 #32

Read my response again hueymahl May 2022 #35

Then they can cap their margins and not hurt Americans uponit7771 May 2022 #36

They have no duty to Americans hueymahl May 2022 #37

True but not the point, Big Oil is profiting GREATLY while raking in profit margins that are stupid uponit7771 May 2022 #41

Don't forget the normal spring Deminpenn May 2022 #23

Fuel rationing is coming. roamer65 May 2022 #27

Ahhh. How I long for the days when we could get paid to take delivery of crude. Lucid Dreamer May 2022 #39

Hard to believe now but I only paid 23cents a gallon when I was in high school back in the 50s 40RatRod May 2022 #42