Joe Biden Threatens To Higher Taxes On Oil Companies If They Do Not Lower Gas Prices

[Admiral Rockwell Tory]

I know that I'm just the woman with the special education here,.. but I must have missed something because how is this making any sense?

Biden threatens higher taxes on oil companies if they do not work to lower gas prices

www.cnbc.com

He threatens to higher taxes? How do you higher something?

 

[Admiral Rockwell Tory]

What do you propose he do?

Reward the oil companies?

How about nothing when it comes to taxes, which he can't do anyway!

 

[Concerned American]

Well…why are these companies raking in record profits and stiffing us at the pumps?

Do you understand "supply and demand?" When the supply is low (Biden policies contributed to that) prices increase and profits go up, just as when there is a glut, price goes down and profits follow. It is called capitalism.

 

[Admiral Rockwell Tory]

Well…why are these companies raking in record profits and stiffing us at the pumps?

OK, shit for brains! Listen up and I'll tell you.

Oil companies sell gasoline for $2.00 per gallon. Their profit margin is say 3%. That means they make 6 cents a gallon.

The price is raised to $6.00 per gallon. Their profit margin is still 3%. That means they now make 18 cents a gallon.

Their profits tripled despite no action by them.

Record profits.

 

[Road Runner]

Nope, I meant adjective. Adjectives are descriptors as in higher describes the taxes (the same as the word blue would if the taxes were blue). Higher is an adjective. It does not describe an action such as raise does. I can see where there can be confusion because the inverse, "lower" can be used as a verb or an adjective---foibles of the English language.

If you say so then I'll go ahead and take your word for it.

Well…why are these companies raking in record profits and stiffing us at the pumps?

Do you know how hard it is to get oil right now or did you miss the memo? Honest question, not being sarcastic or anything.