Tweet of the Afternoon:

[applegrove]

Link to tweet

[unblock]

1. In 2021, we used about 135 billion gallons of gas. That's about 34 billion a quarter

So had oil producers made gas prices $2 per gallon lower, they would still have raked in a $25 billion profit.

I'm simplifying the business and process quite a bit, but it's clear that gas prices aren't high simply due to inflation. Oil companies are cashing in on the situation.

[Silent3]

3. I was posting a response based on the same 135 billion gallons figure...

...but missed the fact that the Bernie tweet was QUARTERLY profit. That makes a big difference! I was thinking price gouging couldn't be that big a factor, but boy, was I off. Hell, it looks like price gouging is almost all of the difference in price we're suffering now, unless I'm missing another factor, like the profits being a global figure, not national.

[PurgedVoter]

4. 200% of the windfall profit sounds fair.

Make it entirely a loss for these folks.

[Riverman100]

5. AMEN!

teach them not to mess with us then nationalize them

[Ziggysmom]

6. That doesn't even include the SUBSIDIES, CORPORATE WELFARE!

A conservative subsidy estimate from Oil Change International puts the U.S. total at around $20.5 billion annually, including $14.7 billion in federal subsidies and $5.8 billion in state-level incentives. A whopping 80 percent of this goes to oil and gas, the rest supporting coal.

https://generation180.org/the-absurd-truth-about-fossil-fuel-subsidies/