You know, this may sound weird, but I'm starting to wonder if the price is being manipulated by big oil to force, as in an excuse for going after cheap land and ramming pipelines down everyones throats because "if you allow us to drill to drill in Alaska and canada to run that shity pipeline through the US, we could produce more oil". Which is pure bullshit because before covid big oil wasn't selling enough and already had started working deals with other countries to reduce production long term. Covid gave them the perfect alibi and excuse to cut back and now there's no honest reason to rape us like they are. ru barely supplies us 5% of oil products and why couldn't the states and opec pick up production to make up that slack of ru loss?
Because they don't want to. Their so called negative cost was an illusion because they based that on future contracts of oil commodities not what they were making at the time. You can't have negative cost of the barrel and come out at the same time telling shareholders oil is making record profits. Why? Because although gas is like 40% of their use for oil, the profit from fuel sales is almost their lowest return.
They make more money in shelf products and exporting a huge amount of oil to the world.
Think mcdonalds, perhaps 60% of their sales is beef, but they make more profit margin and profit from drinks. Oil is so diversified they probably could drop the pump price to 1.50 and it still wouldn't hurt their total bottom line. That's why I keep saying running the price sky high is just pure unadulterated greed and profit.
In a simplified comment, making gas for our own citizens is almost a by product as big oil sells almost all of it off shore. Not to mention the complexities of big oil drilling here, sending it to their own owned foreign refineries and shipping it back, or drilling over there and shipping it back.
I'm not an expert and do not have the smarts to fully explain it, but I've got the gist of the scam correct.
Again this is paid off congress bullshit. Pipelines are for the benefit of pure profit to the oil execs and the fucking pipelines from canada would have zero impact on our gas prices. Their pipelines are total destructive rape of our country for their own profits. As I said before, I believe the keystone may be foreign owned in some way as well. Look who pushing the bullshit again. We were doing fine without the pipeline and destroying more pristine lands, nothing changed except the opportunity to manipulate congress and rape the citizens. Seriously, what good does it do for the US to allow the oil companies to destroy Alaska and the ocean just so they turn around and sell all that oil over seas anyways.
Some Republican lawmakers and oil executives have argued that Mr. Biden could do more to increase domestic oil and gas production by opening up more federal lands and waters to oil drilling in places like Alaska and the Gulf of Mexico. He could also ease regulations on pipeline construction so Canadian producers could send more oil south.
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