What is the Republican explanation as to why gas prices are so high even though their profit margins are so high?

[TheGreatSatan]

Many groomercrat environmental groups are funded by putin to attack American energy.

 

[gipper]

For instance, what makes it Biden’s fault they are high if that is the case? What did Biden do to make them high? Keep in mind these prices are high in other countries.

2 charts show Big Oil profits skyrocketing as prices at the pump rise

Oil companies are raking in the largest quarterly profits in a decade, raising concerns that the sector is using high gas prices to gouge customers.

www.businessinsider.com

The only difference between the two parties is Republicans stab you in the front and Democrats stab you in the back. Malcolm X pointed this out 60 years ago, yet the American people continue to vote for our executioners.

 

[Billy000]

The simple answer is speculators in New York bidding up the price of oil at the pump

I mean is it? Are you sure you’re not just making that up on the spot? Like is their facts to back up what you’re saying? Regardless of the reason, they are still that high so it’s a moot point anyway.

 

[hunarcy]

For instance, what makes it Biden’s fault they are high if that is the case? What did Biden do to make them high? Keep in mind these prices are high in other countries.

2 charts show Big Oil profits skyrocketing as prices at the pump rise

Oil companies are raking in the largest quarterly profits in a decade, raising concerns that the sector is using high gas prices to gouge customers.

www.businessinsider.com

Oil is sold at auction. The drilling producers don't set the price, the supply vs. demand sets the price. So, when Biden restricted production by slowing the permit process, the supply shrunk which increased the price that people were willing to pay at the auction. If there was more supply, the price would fall.

These are things you probably know, but don't want to address because it would ruin the "bad oil compay" narrative.

 

[Billy000]

The fact that prices are high in other countries is absolutely meaningless.

Right now, the average price of a liter of gasoline in Canada is $1.61 (US), and there are just over four liters in a gallon. For argument's sake we'll round it down.

So, a gallon of gas in Toronto will cost you $6.44 (US) or so.

A gallon of gas had always been more expensive in Canada because they charge by the liter.

Now, $6.44 is crazy, right? Well, some cities in California have eclipsed nine bucks a gallon.

It's cheaper all over Europe, too...

You’re making a pretty basic point without hard data to back up your point.

 

[Canon Shooter]

Well see you’re missing a basic point here. Regardless of the politics about energy, their profits are still sky high. You aren’t adding anything to the conversation if you are not taking that into account.

Well, then chew on this: The oil companies were making those sky high profits when we were paying $1.98 a gallon.

You're not adding anything to the conversation if you're not taking that into account.

I have no problem with oil companies making crazy profits. They're in business to make money, and they were making money when gas was below two bucks a gallon...

 

[TheGreatSatan]

Oil companies are making record profits because the baseline value of their product is way up. 10% of 5 dollars is more than 10% of 2 dollars.

 

[Billy000]

Oil is sold at auction. The drilling producers don't set the price, the supply vs. demand sets the price. So, when Biden restricted production by slowing the permit process, the supply shrunk which increased the price that people were willing to pay at the auction. If there was more supply, the price would fall.

These are things you probably know, but don't want to address because it would ruin the "bad oil compay" narrative.

You’re just making shit up. You’re desperately trying to make this about Biden without being informed on the subject. It’s completely moronic to put 100% of the blame on him.

 

[bendog]

Oil companies make money through products other than raw gasoline

The industry is too large to dissect here

But obama and bidens own words, which amounted to a solemn promise to end the Oil Age, cannot be ignored

What they promised is taking place now

Was there some political impediment to building more refineries under Reagan or BushI or W or Trump? Or for that matter, WJC? Or did oil companies correctly foresee that at some point oil prices would make alternatives practicable?

 

[Mac-7]

I mean is it? Are you sure you’re not just making that up on the spot? Like is their facts to back up what you’re saying? Regardless of the reason, they are still that high so it’s a moot point anyway.

I am the fact

Oil is bought and sold on the open market

 

[dblack]

The main duty of the US President is to keep gas prices low.

It's in the Constitution!

 

[protectionist]

Well see you’re missing a basic point here. Regardless of the politics about energy, their profits are still sky high. You aren’t adding anything to the conversation if you are not taking that into account.

You got a source link to these so-called "sky-high" profits ?

 

[bendog]

The simple answer is speculators in New York bidding up the price of oil at the oil pump

How is that possible? It sounds frighteningly like elders of zion or some other magical myth to blame someone. There's not dispute that refineries in the US are running at about 95% capacity.

But people are still taking vacations by car. Unfortunately, for people in red states, there's really no way to get to work without a car, and drives can be long. That may also be the case in Calif

 

[1srelluc]

OP hates capitalism.

Companies are beholden to their shareholders, not the .gov. or in a broader sense, "the people".

I sure as fuck did not hear anyone bitching about "profits" when oil was down to $60.00 a barrel.

You make hay while the sun shines, it's really as simple as that.

Tater made the sun shine now he's bitching that it's got too hot.

 

[hunarcy]

You’re just making shit up. You’re desperately trying to make this about Biden without being informed on the subject. It’s completely moronic to put 100% of the blame on him.

Nope, I'm sharing FACTS with you. But, since you don't want to deal with facts, I'll just leave you to your ignorance.

 

[protectionist]

Gas prices are high because oil prices are high.

Oil prices being high means oil companies make record profits.

This is not real complicated.

I wouldn't trust the liberal rag business insider for a split second.

 

[protectionist]

You’re just making shit up. You’re desperately trying to make this about Biden without being informed on the subject. It’s completely moronic to put 100% of the blame on him.

When Trump was president, how many times did we hear liberals crow > "on his watch!"

Now Biden is president, and the country is coming apart at the seams. (on his watch)

 

[Polishprince]

For instance, what makes it Biden’s fault they are high if that is the case? What did Biden do to make them high? Keep in mind these prices are high in other countries.

2 charts show Big Oil profits skyrocketing as prices at the pump rise

Oil companies are raking in the largest quarterly profits in a decade, raising concerns that the sector is using high gas prices to gouge customers.

www.businessinsider.com

The profits of oil concerns are nowhere near their highs, you know. Substantially lower than they were 10 years ago. You need to quit paying attention to liberal untruths.

Exxon Gross Profit 2010-2024 | XOM

Exxon annual/quarterly gross profit history and growth rate from 2010 to 2024. Gross profit can be defined as the profit a company makes after deducting the variable costs directly associated with making and selling its products or providing its services. <ul...

www.macrotrends.net

 

[Billy000]

You got a source link to these so-called "sky-high" profits ?

Yeah dude it’s in the OP.

 

[Billy000]

The profits of oil concerns are nowhere near their highs, you know. Substantially lower than they were 10 years ago. You need to quit paying attention to liberal untruths.

Exxon Gross Profit 2010-2024 | XOM

Exxon annual/quarterly gross profit history and growth rate from 2010 to 2024. Gross profit can be defined as the profit a company makes after deducting the variable costs directly associated with making and selling its products or providing its services. <ul...

www.macrotrends.net

My link proves the industry profits are sky high.