I know when gas prices will drop

[newdayneeded]

They'll start dropping days after the repub majorities are sworn in. We live in a world where billionaires can control our prices on food, goods, and gas. And they control the media to create the "Democrats are bad for business" message.

You'll hear nothing but a chorus of phrases from the media saying "see, the republicans are now majority and gas prices are dropping".

[Beachnutt]

1. And the stock market will level off

the big hedge funds such as citadel are totally in bed with the rethugs and manipulate the market

[Initech]

4. Who needs to think when Fox News can do it for you?

[rubbersole]

6. All corporate media.

Owned by billionaires. They are the ones that will have to pay for Biden's agenda. They will stop at nothing before they will pay a dime. Taking money out of politics will be harder than getting assault weapons out of the hands of civilians. Our kids are screwed.

[Dustlawyer]

12. It is not just that the media is itself corporate, it is more that the big advertisers leverage

their ad money to force the media to air stories they want, kill those they don’t, and slant the rest.

[FoxNewsSucks]

22. Actually it's both

Ad money influences coverage, but it's often what the media ownership wants anyway. Especially regarding financial and taxation issues

[walkingman]

3. It always happens that way doesn't it. It is a constant battle but fight we must.

[TheRealNorth]

5. It will keep getting worse and worse

As wealth gets more and more concentrated.

[RainCaster]

7. UK took care of this problem

They passed a windfall profits tax against the petro-bastards that are making such a world class profit.

[Beachnutt]

10. We could never get that passed

manchinema..

[Fla_Democrat]

8. You think the war will last that long?

I don't see it. Way I understand it, Russia is on the ropes, Their generals are dropping like flies, and Putin has one foot in the grave, and the other on a banana peel. I'm sure the Putin Price Hike will be a very temporary thing.

[former9thward]

23. Beware of believing all the war rumors.

Even Zelensky admits Russia controls 20% of Ukrainian territory. This war will not end soon.

[Fla_Democrat]

38. I'm just going off what I read here.

I'm just going off what I read here. Every post concerning Ukraine is a glowing report of how well things are going there for us, I mean for the people of Ukraine, and how hopeless is seems for Putin.

[former9thward]

40. I know.

Reports I read in the MSM are often quite different.

[Bengus81]

35. How long were they in Afganistan?? A decade or so??

[Fla_Democrat]

39. But, Afghanistan didn't have

The Ghost of Kiev.

[iemanja]

9. When the war on Ukraine ends.

[EX500rider]

11. Except billionaires don't control the price of oil...neither do oil companies

The price of oil is not set by the producers, the price of oil is actually set in the oil futures market. I assume they see more shortages due to the war by Russia and their oil being boycotted.

[ProfessorGAC]

15. +1

In addition, the price of refined fuel is set by the traders/speculators, not by the producers (refiners).
Right now, I will admit I believe there is massive price manipulation going on by the traders.
They are, without economic cause, propping up futures to max out profits before they ultimately take a beating on their last 30 or 90 day contracts.
Given that the embargo on Russian oil is FAR from complete, and that all other producers are operating at 80% capacity or lower, there is no crimp on supply.
Plus, historically the wholesale price for each gallon of refined fuel has been a bit over 2.8% the cost of the crude per barrel.
It's now over 3.4% and has been over 3% for several weeks. There's no economic fundamentals to justify that either.
People go nuts over the huge extra profits the refiners are making, but they're just lucky beneficiaries of an out of control market. Anger should be directed at the people who appear to be price fixing to save their own butts from overestimating the impact of Russia's invasion.
I'd also start having regulators snooping around the commodity markets, as I'm not convinced this sustained overpricing occurs without collusion.

[dpibel]

16. Interesting

If I read correctly the post to which you are responding, the person is working a plausibly deniable argument that, doods, it is totally true market forces.

That, after all, is what this says, isn't it:

"I assume they see more shortages due to the war by Russia and their oil being boycotted."

You, OTOH, are agreeing that the common beliefs about the locus of the manipulation are wrong, but current gas prices are, by golly, the result of manipulation.

[ProfessorGAC]

24. I Read It Differently

I'm saying manipulation seems likely & requires scrutiny.
I can prove nothing at this point, but the math & history raise suspicions.
I read the other post as blaming the markets, not the producers. I concur completely.
If(!) there is collusion to manipulate, grilling Exxon & Shell is not going to yield much.
Don't blame the president. Don't blame the refiners.
Figure out what happened that allowed the markets to throw everything into chaos.

[newdayneeded]

25. I think Biden

even said as much. He was saying oil barrel price at the same time last year brought $3 per gallon prices, now it's over $4 per gallon.

[allegorical oracle]

30. Yep. Barrel prices have often been at $100+ without pump prices being $5+/gallon. nt

[ProfessorGAC]

33. It's Over $5 Retail Here

Went down 20¢, then up 40. In 10 days.
Brent crude is selling at barely under $120/bbl.
The RBOB price of unleaded is $4.25 per gallon. That's over 3.5%. 25% above the historical ratio.
And, I don't believe the refining shortfall rhetoric.
Refineries set their accounting to track unit operations by 92% uptime & 85% of nameplate.
That means "capacity" is 78.8% of what is possible.
Even if shutdown/turnarounds cannot be deferred, there is a built in 18% of excess capacity in the system
That's why when the big freeze hit Texas & gas prices shot up, there was no actual shortfall of supply. The other refineries just turned up 1.5-2.0%.
The only substantial shortfall we've seen in recent memory was when that pipeline in the southeast was shutdown.
But, I saw ZERO gas stations here out of gas.

[uponit7771]

28. False, the oil companies can cap their margins to keep gas prices low they don't have to take

... the margin even if the market gives it.

[EX500rider]

31. It is not false that they do not set the worldwide price for a barrel of oil

They avg. 12% profit margin, which is not a huge return on investment IMO. Many of them lost billions the year before so I assume they are trying to recoup some of that.
Oil refining is a capital-intensive business. Planning, designing, permitting and building a new medium-sized refinery is a 5-7 year process with costs ranging from $7-10 billion, not including land acquisition.

And even cutting their margin in 1/2 would not "keep gas prices low". They would be $.20+- lower.

[uponit7771]

37. Gas, as I mentioned, is sold from the company and not on market. They can cap those prices

[haele]

34. The price of oil is one thing, the price of gas is another.

Besides, the price of oil per barrel list not the highest it's been, despite sanctions and oil producers continuing to keep production at near COVID levels just because they can.
Yes, billionaires can affect the price of both oil and gas.
They don't live in isolation, they all pretty much know each other, hang out with each other at private locations provided by financial facilitators like the late Jeffery Epstein.
What's wrong with a little chat about reducing oil or gas production to drive up prices, tweek with regulations, and increase profits between friends and peers after all?

Haele

[dweller]

13. They won't drop the day after the repugs take the majority

They drop the day after the repugs pass the next tax cuts for the wealthy …
They got priorities ya know


✌🏻

[jimfields33]

14. Hopefully president Biden will VETO.

[Escurumbele]

17. The Biden administration can also do something about it, there must be some legal recources

this administration can take on.

The problem I see with your argument is that seems to assume the Biden administration has its hands tied up, and I cannot think that is the case, there must be ways of controlling the corporations without resistance from republicans. As a minimum start a negative campaign, from the administration against the corporations and the republican lawmakers, make it clear to the world who is doing it, let the people know what is going on and even suggest actions the ordinary citizen can take on.

We the people have the power if we all agree to use it, to give up certain pleasures, even driving, to make sure we use the weight of our power to make these corporations and politicians do what we want, and not us become complacent and do what they want.

An example, get out of Facebook and tell them why you are leaving. Stop buying gas at a certain brand. Yes it has to be a concerted effort but even small numbers will have an impact on their bottom line.

[broiles]

18. As I posted before this is how they got. rid of Jimmy Carter

[Rebl2]

20. Big business

would rather we live in a dictatorship or oligarchy. Oil companies purposely gouging us which is driving the price of everything else up. I am sure other companies taking advantage too.

[RussBLib]

21. too much pessimism nt

[newdayneeded]

26. Not pessimism

but major frustration. Knowing a few individuals compared to the whole US population can literally change message and politics with their money. Then of course coupling that with a paid for echo chamber propaganda machine on 1000s of radio station.

[allegorical oracle]

27. Exactly. The petroleum industry prefers Repugs because they "drill baby drill." All it takes to

cause gas prices to rise is to shut down refineries. The big oils are making historic record profits, which they believe they deserve because they suffered revenue declines during the pandemic.

[Emile]

29. Predatory Capitalism is alive and well. Nobody cares, Republicans sing blame Joe.

Predatory Capitalists did this shit before and gave Carter one term.

[pwb]

32. Me too, when

we all stay put more. Drive less, slow down, fight back.

[Vinca]

36. I totally agree. The fat cats want the GQP in power. I suspect that's also why Saudi Arabia

is making sure not an extra drop of oil comes to market.