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In reply to the discussion: Here is one reason we have high gas prices. [View all]hueymahl
(2,447 posts)21. We really need some economic education around here
We really need some economic education around here.
BPs 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 dont confuse it with how the market works.
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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
BP reports bumper first-quarter net profit, but posts massive loss on hit from Russia exit
Celerity
May 2022
#29
PPB was over 100 in 2011-15 and gas prices, set by big oil, was not this high
uponit7771
May 2022
#34
THIS !!!! ☝🏾☝🏾☝🏾 2011-15 oil was over 100 a barrel at clips and we still never paid this close to
uponit7771
May 2022
#30
Then how are they making such high net profit ***MARGINS*** come on, we see their 10ks !!
uponit7771
May 2022
#32
True but not the point, Big Oil is profiting GREATLY while raking in profit margins that are stupid
uponit7771
May 2022
#41
Ahhh. How I long for the days when we could get paid to take delivery of crude.
Lucid Dreamer
May 2022
#39