Bill Burr on Big Oil

[whag]

Krystal and Saager did a segment on petrogreed, featuring Bill Burr to kick it off. Warning: profanity.

https://youtu.be/IdohFjBoyJc

It’s really laughable that the GOP and Dems pretend the president controls the gas prices whenever it’s convenient for them. There’s your swamp right there, never to be touched by any politician because most of them depend on Big Oil donations to get re-elected.

[Sparko]

Considering that the government add taxes to gasoline, and controls the permits for oil drilling and regulates the industry, they do have influence on the price of gasoline, both directly and indirectly.

[rogue06]

Considering that the government add taxes to gasoline, and controls the permits for oil drilling and regulates the industry, they do have influence on the price of gasoline, both directly and indirectly.

Government likes high gas prices since they get more revenue when it costs more.

FWIU, the one who makes the most off of a gallon of gasoline is the government.

[rogue06]

Krystal and Saager did a segment on petrogreed, featuring Bill Burr to kick it off. Warning: profanity.

https://youtu.be/IdohFjBoyJc

It’s really laughable that the GOP and Dems pretend the president controls the gas prices whenever it’s convenient for them. There’s your swamp right there, never to be touched by any politician because most of them depend on Big Oil donations to get re-elected.

Ironic then that when the price of gas dropped a few cents during December the MSM was quick to credit old Joe for it. And the duffer himself boasted that his actions lowered the price: Biden Cheers Lower Pump Prices, Crediting His Supply Efforts and Biden took credit for dip in gas prices, now sheds responsibility during spike

[CivilDiscourse]

Source: https://www.politifact.com/factchecks/2022/mar/17/facebook-posts/persistent-high-gas-prices-dont-prove-price-gougin/

How fast are changes in oil prices reflected in gas prices?

Crude oil prices are set in the global market. And the price of crude oil has the biggest impact on the price of gasoline — that’s been the case for nearly all changes in retail gasoline prices in the past 35 years, said Mark Finley, a fellow in energy and global oil at Rice University’s Baker Institute for Public Policy.

When Russia — the world’s third-largest oil producer — attacked Ukraine at the end of February, the uncertainty, fear of further conflict and international efforts to reduce reliance on Russian oil drove up crude oil prices.

High oil prices can quickly drive up prices at gas stations nationwide, experts said.

After oil prices fall, it typically takes a while for gas prices to decrease and consumers "often assume foul play" even when there isn’t any, said Nicole Petersen, a GasBuddy spokesperson.

Gas stations lose profit when oil prices increase sharply because they cannot drastically lift gas prices due to local competition, Petersen said. Then, when oil prices fall, gas stations try to recoup any losses before lowering their prices, she said.

Unique factors in each state’s gasoline market also affect gas prices, said Devin Gladden, a AAA spokesperson. Locally, gas stations might have contracts with gasoline dealers that lock in prices at a certain rate for set periods of time — sometimes weeks or months, he said.

© Copyright Original Source

[Thoughtful Monk]

Government likes high gas prices since they get more revenue when it costs more.

FWIU, the one who makes the most off of a gallon of gasoline is the government.

Not necessarily. In NY, some of the gas taxes are a fixed amount per gallon rather than a percentage of the price.

[Sparko]

Source: https://www.politifact.com/factchecks/2022/mar/17/facebook-posts/persistent-high-gas-prices-dont-prove-price-gougin/

How fast are changes in oil prices reflected in gas prices?

Crude oil prices are set in the global market. And the price of crude oil has the biggest impact on the price of gasoline — that’s been the case for nearly all changes in retail gasoline prices in the past 35 years, said Mark Finley, a fellow in energy and global oil at Rice University’s Baker Institute for Public Policy.

© Copyright Original Source

But since our government controls permits and regulations and thus the supply of US crude oil available to the market, that affects the price of crude oil which effects the price of gasoline.

[CivilDiscourse]

But since our government controls permits and regulations and thus the supply of US crude oil available to the market, that affects the price of crude oil which effects the price of gasoline.

Yes. That goes on to describe why gas prices are quick to go up, and slow to go down.

[rogue06]

Source: https://www.politifact.com/factchecks/2022/mar/17/facebook-posts/persistent-high-gas-prices-dont-prove-price-gougin/

How fast are changes in oil prices reflected in gas prices?

Crude oil prices are set in the global market. And the price of crude oil has the biggest impact on the price of gasoline — that’s been the case for nearly all changes in retail gasoline prices in the past 35 years, said Mark Finley, a fellow in energy and global oil at Rice University’s Baker Institute for Public Policy.

When Russia — the world’s third-largest oil producer — attacked Ukraine at the end of February, the uncertainty, fear of further conflict and international efforts to reduce reliance on Russian oil drove up crude oil prices.

High oil prices can quickly drive up prices at gas stations nationwide, experts said.

After oil prices fall, it typically takes a while for gas prices to decrease and consumers "often assume foul play" even when there isn’t any, said Nicole Petersen, a GasBuddy spokesperson.

Gas stations lose profit when oil prices increase sharply because they cannot drastically lift gas prices due to local competition, Petersen said. Then, when oil prices fall, gas stations try to recoup any losses before lowering their prices, she said.

Unique factors in each state’s gasoline market also affect gas prices, said Devin Gladden, a AAA spokesperson. Locally, gas stations might have contracts with gasoline dealers that lock in prices at a certain rate for set periods of time — sometimes weeks or months, he said.

© Copyright Original Source

Back in the 80s (I think) I passed a gas station in the early morning that had one price, but when I passed it again mid-morning it had changed, and when I went home around 2:00 they were out by the sign raising the price yet again.

After that, I'm not sure I believe the slow to raise prices part.

[Sparko]

Back in the 80s (I think) I passed a gas station in the early morning that had one price, but when I passed it again mid-morning it had changed, and when I went home around 2:00 they were out by the sign raising the price yet again.

After that, I'm not sure I believe the slow to raise prices part.

Yeah I am not sure I buy that explanation either. They raise the prices before they even have to refill their tanks. So say they filled their tanks when gas was $3.25. Then something happens like the Ukraine thing. They all instantly raise their prices instantly even though their tanks are still full of $3.25 gas. But when the price of gas goes down, they won' t lower their prices instantly, they will wait until they refill their tanks because they don't want to lose money on the $4/gallon gas in their tanks.

[whag]

But since our government controls permits and regulations and thus the supply of US crude oil available to the market, that affects the price of crude oil which effects the price of gasoline.

Not nearly as much as petroleum companies’ artificial inflation of pricing, which that video clearly outlines for you.

It’s amazing the lengths you and Biden will go to to ignore corporate greed’s role in the artificial inflation of gas prices.

It’s not Russia, Keystone, or COVID. Those are MAGA and Biden lies for political expedience. It’s corporate greed, which of course ceases to be a sin when you’re making hay of one’s political opponent.

[rogue06]

Yeah I am not sure I buy that explanation either. They raise the prices before they even have to refill their tanks. So say they filled their tanks when gas was $3.25. Then something happens like the Ukraine thing. They all instantly raise their prices instantly even though their tanks are still full of $3.25 gas. But when the price of gas goes down, they won' t lower their prices instantly, they will wait until they refill their tanks because they don't want to lose money on the $4/gallon gas in their tanks.

The reasoning is they need to raise the prices in order to afford the more expensive gas which seems reasonable. But when the cost drops they don't immediately lower the prices because they won't need as much to buy more.

[rogue06]

Not nearly as much as petroleum companies’ artificial inflation of pricing, which that video clearly outlines for you.

It’s amazing the lengths you and Biden will go to to ignore corporate greed’s role in the artificial inflation of gas prices.

It’s not Russia, Keystone, or COVID. Those are MAGA and Biden lies for political expedience. It’s corporate greed, which of course ceases to be a sin when you’re making hay of one’s political opponent.

Simple question... why weren't they raising prices like this in 2020? Or 2019? Or 2018? etc. etc. If it is merely corporate greed, why were they not greedy until old Joe stumbled into the Oval Office?

[whag]

Ironic then that when the price of gas dropped a few cents during December the MSM was quick to credit old Joe for it. And the duffer himself boasted that his actions lowered the price: Biden Cheers Lower Pump Prices, Crediting His Supply Efforts and Biden took credit for dip in gas prices, now sheds responsibility during spike

Strange that that offends you but Big Oil’s influence in politics and artificial inflation does not.

POTUSes taking credit for gas prices is nothing new. They’re always confident that people as stupid as you will buy those lies, while the corporate interests they serve go unnoticed.

[whag]

Stupid question... why weren't they raising prices like this in 2020? Or 2019? Or 2018? etc. etc. If it is merely corporate greed, why were they not greedy until old Joe stumbled into the Oval Office?

Fixed it for you. Obviously, they didn’t raise prices during a global pandemic because demand stalled. The reason why they didn’t inflate prices to this degree under Trump was because they weren’t responding to an unprecedented lack of demand. It being a nuanced issue, there are other reasons, but that one should have been immediately obvious to you.

I mean why not just be the political moderate you claim you are and acknowledge industrial influence in politics and corporate greed corrupts both sides? Why dig your heels into the MAGA narrative when you can have fun condemning Democrats for taking Big Oil’s money?

That video is short. You may as well watch it and respond to its bipartisan condemnation of Big Oil’s political influence.