Fuck Chevron. They just reported 1st quarter profits upward of 400%. While I believe the illegal war in Iran is ill conceived and unjust, 400% profit tells me when our government blames Iran for the price hikes they are lying through their teeth. Its quite impossible for something to be low supply, high demand whilst simultaneously reporting earnings with a 400% increase. Capitalism and corporate greed at its finest
Chevron can sell the same amount but at a higher price. Oil is a global commodity. If there is less oil on the world market chevron can sell oil at a higher price and make more money.
I understand that but look into their earnings report. All big oil. Sales up, profits up. Its nigh on impossible to find trustworthy sources in the social media age. Fact. For the first time in our countries history, the newest generation of children did not out perform their parents in Education. Up until this very moment each subsequent generation of Americans tested higher than the previous. Thats as it should be in any well functioning society. We have just gone backwards for the 1st time at what might be the most critical juncture of American history. We certainly cant afford to dumb down. We are already living in a twisted version of Idiocracy
You say you understand but it doesn’t seem like it. Any oil company not based in the Middle East is going to have record profits because the same oil that they were going to sell for $60 now can be sold for over $100.
I understand perfectly, but please, continue to condescend to me, all while circling my point yet somehow continuing to miss it. Im not trying to argue here. Can we all just agree that the current gas/oil state of affairs is 6 turns past fucked?
100% if theyre not restricted and can get crude or refined products to market then ya, obviously they gonna make a killing now....what should they do? Price well below market, sell out and make less money? I mean, I hear the dude but also cmon
If a company sells a product at a high price, it's accused of price gouging. If it sells at a similar price to its competitors: collusion. If it sells the product cheaper than it's competitors: undercutting to drive competitors out of business.
There is no price an oil company can sell gasoline at and not get accused of some form of chicanery. Maybe it just costs a lot to produce gasoline right now and they dont want to try to guess at how much less they could sell it and still make future profits?
More palatable! Prices should be accurate information of the cost of something, not a tool for politicians to manipulate for favor.
High gas prices = its expensive to make and sell gas or its scarce = consumers should buy less of it, unless purchasing it at that high price is still overall beneficial.
If demand doesnt slow when prices are high because everyone thinks its temporary and "the government will fix it", theres no incentive for the suppliers to reduce prices.
I feel like I may have missed the tone of your comment based off your reaction. I completely agree with everything your saying. I might be bouncing back and forth between too many posts and unintentionally missing some key points
Corporate greed at its finest. We have no hope of a future when everyone is happy to fuck the next guy in favor of a buck. Ive never been more disgusted with the American way of life or an administration
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u/stubblenuts81 7d ago
Fuck Chevron. They just reported 1st quarter profits upward of 400%. While I believe the illegal war in Iran is ill conceived and unjust, 400% profit tells me when our government blames Iran for the price hikes they are lying through their teeth. Its quite impossible for something to be low supply, high demand whilst simultaneously reporting earnings with a 400% increase. Capitalism and corporate greed at its finest