Gas price gouging
Every Democrat should be screaming this and demanding rethugs pass the antigouging bill.
Link to tweet
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That's the big picture alright, spot on. Oligarchs want Rs back in charge of our government
because of tax breaks and loopholes they desire. Follow the money.
..with explanations of the high prices. I've Googled the topic numerous times and one factor that always comes out is the oil companies' big losses in 2020 and their desire to recoup the losses.
https://www.businessinsider.com/gas-prices-oil-company-profits-skyrocketing-energy-sector-earnings-charts-2022-5
"They're not raising prices to cover their costs — they're raising prices to pad their profits," he said in a May 11 tweet.
https://therealnews.com/big-oil-rakes-in-174-billion-in-2021-profits-amid-rising-gas-prices-report?gclid=CjwKCAjwqauVBhBGEiwAXOepkf6I-RVK0pNgd52ESkLP5JjfTuUMRF2KPtm6zFZAoRLYsdbrqm0pWRoCykMQAvD_BwE
Big Oil is “taking advantage of bloated prices, fleecing American families along the way,” Accountable.US says in its new report. “Rather than taking steps to lower prices, oil corporations are reveling in their massive profits and using that money for their real priorities: stock buybacks and lining shareholders’ pockets.”
The unwillingness of oil and gas companies to boost production “has been driven by investor sentiment,” Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNN last month. Wall Street, she said, doesn’t want producers “to spoil the party” by expanding supply.
Notably, the oil and gas companies that have been disregarding Biden’s pleas to increase production are part of the same industry that resisted his now-defunct moratorium on new fossil fuel leasing on public lands and waters.
“It’s not the government that is banning them from drilling more,” Pavel Molchanov, an analyst at Raymond James, told CNN last month. “It’s pressure from their shareholders.”
"investor sentiment"...
Whatever explanation people want to believe is their choice but I just get tired of hearing the ones who say it's Biden's fault.
#BigOil does NOT like the Democrats and their regulations and concern about the environment.
#BigOil KNOWS that the "business climate" under the GOP* (in whom they already hold a very large "position"
would be far more to their liking. #BigOil knows that under the Republicans, the subsidies will flow and the regulations will cease.
#BigOil is making as much profit as they can now, because no matter their efforts, sooner or later the WORLD is going to reach the same conclusion: Petroleum is bad for the planet. Petroleum is bad for our ecosystem. Petroleum is bad for the humans.
The #PriceGougingAtThePump is #BigOil putting their tar-stained hand on the scales of American politics.
