I support Biden on this

@kevcvs57 said
Yeah that’s right energy company boards work their poor little socks off.
They’ve been profiteering for years and governments have a duty and a right to claw some back for the ripped off consumer but as usual all the corporate butt lickers on here are out in their defence.

Everyone check out this socialist's casual use of the word profiteering. The general term for what he is talking about is gouging. The chicken/egg farmers had to slaughter about 60M chickens (asian flu) which has eggs up over 100%. I get the feeling that Kev finds this to be profiteering, when actually, supply and demand are at play. What a laugh.
Ironic how he uses gas as an example, when Biden, starting with his Edict #1 Keystone Pipeline ('Y'all can find other jobs', said Kerry), started the oil ball a'rollin. Imagine seeing Kev as the Energy Czar, ordering oil companies to dole out all of their profits. This would be a windfall for all the losers, but down the road, the losers would not find a gas pump. Certainly Kev can't expect the oil company to jump back into that frying pan. I guess they'll play golf instead.
You kids are entertaining, I will give you that. Wonder how you would fare in a Q&A in Econ101.
I think Kev and cohorts just want our money. Why don't they just say so?

What a laugh!!! I think I will skip my daughter's wedding today, so as not to miss their latest missives! Marauder is quietly composing and gathering research as I speak.

@averagejoe1 said
Everyone check out this socialist's casual use of the word profiteering. The general term for what he is talking about is gouging. The chicken/egg farmers had to slaughter about 60M chickens (asian flu) which has eggs up over 100%. I get the feeling that Kev finds this to be profiteering, when actually, supply and demand are at play. What a laugh.
Ironic how he us ...[text shortened]... e in a Q&A in Econ101.
I think Kev and cohorts just want our money. Why don't they just say so?

Another stupid irrelevant post from arguably the stupidest and most irrelevant right wing poster on the site.
Notice the confusion between gouging a product and profiteering from ad hoc supply line issues.

@kevcvs57 said
Another stupid irrelevant post from arguably the stupidest and most irrelevant right wing poster on the site.
Notice the confusion between gouging a product and profiteering from ad hoc supply line issues.

Sorry that hit you wrong.
So tell us, what do you think of the rest of my post?

@averagejoe1 said
Sorry that hit you wrong.
So tell us, what do you think of the rest of my post?

💩

@averagejoe1 said
Everyone check out this socialist's casual use of the word profiteering. The general term for what he is talking about is gouging. The chicken/egg farmers had to slaughter about 60M chickens (asian flu) which has eggs up over 100%. I get the feeling that Kev finds this to be profiteering, when actually, supply and demand are at play. What a laugh.
Ironic how he us ...[text shortened]... e in a Q&A in Econ101.
I think Kev and cohorts just want our money. Why don't they just say so?

ExxonMobil on Tuesday joined other U.S. oil companies in reporting record 2022 earnings amid rising gas prices, sparking renewed calls by consumer and climate advocates for a Big Oil windfall profits tax.

https://childrenshealthdefense.org/defender/exxon-record-profits-gouging-consumers-cd/?utm_source=salsa&eType=EmailBlastContent&eId=a4b7f143-a882-4b37-9ccf-a295eddf571e

@metal-brain said
ExxonMobil on Tuesday joined other U.S. oil companies in reporting record 2022 earnings amid rising gas prices, sparking renewed calls by consumer and climate advocates for a Big Oil windfall profits tax.

https://childrenshealthdefense.org/defender/exxon-record-profits-gouging-consumers-cd/?utm_source=salsa&eType=EmailBlastContent&eId=a4b7f143-a882-4b37-9ccf-a295eddf571e

So, is nationalizing the oil industry the answer? Does Biden know how to run an oil company, opening and closing lines? Does a transsexual luggage-stealing cabinet member know how to run an oil company? What if Biden doesn't want to drill, but the teansexula wants to drill? How long for the red tape process?
Do liberal politicians have a feel for investment in oil fields, will they be able to work words like 'success' into their vocabulary ? Y'all don't get it, do you......

@averagejoe1 said
So, is nationalizing the oil industry the answer? Does Biden know how to run an oil company, opening and closing lines? Does a transsexual luggage-stealing cabinet member know how to run an oil company? What if Biden doesn't want to drill, but the teansexula wants to drill? How long for the red tape process?
Do liberal politicians have a feel for investment in oil ...[text shortened]... they be able to work words like 'success' into their vocabulary ? Y'all don't get it, do you......

The oil industry is not why the price of gas is so high.
Stop using refined fuel and oil as interchangeable terms.

Exxonmobile did not increase profits because of oil. They are also in the refining business. They made it from selling fuel. Do you know why JD Rockefeller avoided the oil drilling business? Because it was too risky and refined fuel was where the money was. Refining is where the real money is.

You don't buy oil. Oil refiners do. You buy refined fuel. You wouldn't know what to do with oil if you had it aside from selling it to the refiners. Nobody else buys it except the middle men like commodity traders and it all ends up at a refinery sooner or later.

@metal-brain said
The oil industry is not why the price of gas is so high.
Stop using refined fuel and oil as interchangeable terms.

Exxonmobile did not increase profits because of oil. They are also in the refining business. They made it from selling fuel. Do you know why JD Rockefeller avoided the oil drilling business? Because it was too risky and refined fuel was where the money w ...[text shortened]... ys it except the middle men like commodity traders and it all ends up at a refinery sooner or later.

I don’t take issue with this, you are correct, like Marauder is on occasion. But y’all avoid my question. You all on this Forum make remarks about some transgressions , some discontent with the way things are done. But you stop there.
There is no doubt that in the back of your mind you think only the govt can save us from the evilness of oil/gas companies and the evilness of the guys who make money off of it. But, you don’t tell us how the govt can fix things to satisfy libs who have climate issues, anti-rich-guy issues, etc.
So as I suggested above to nationalize the oil/gas industry for the equalization of all humans, what would be your suggestion. There are a LOT of people dependent on the govt, awaiting your answer.
I myself am not dependent on the govt, but let’s not get personal.

@averagejoe1 said
I don’t take issue with this, you are correct, like Marauder is on occasion. But y’all avoid my question. You all on this Forum make remarks about some transgressions , some discontent with the way things are done. But you stop there.
There is no doubt that in the back of your mind you think only the govt can save us from the evilness of oil/gas companies and the ev ...[text shortened]... govt, awaiting your answer.
I myself am not dependent on the govt, but let’s not get personal.

Nationalization of the oil can be good or bad depending on government. Mexico was so darn corrupt it turned out badly. It turned out good for Iran when Iran was a democracy, then the US overthrew that democracy and ruined it by installing a puppet dictator, the Shah.

It depends on the government. There is no black and white answer like the propaganda capitalists tell you. Centralization is bad with corrupt governments, good when government is not corrupt.

@metal-brain said
Nationalization of the oil can be good or bad depending on government. Mexico was so darn corrupt it turned out badly. It turned out good for Iran when Iran was a democracy, then the US overthrew that democracy and ruined it by installing a puppet dictator, the Shah.

It depends on the government. There is no black and white answer like the propaganda capitalists tell you. Centralization is bad with corrupt governments, good when government is not corrupt.

For sake of brevity, we should always discuss an issue from a legal set of circumstances. Eg, discuss the badness of wealthy guys, but if it is shown he is a crook with his money, then the post means nothing UNLESS his thievery is the subject of a post.
So here you say govt can be good or bad, but we all stipulate to that. So if I would like thoughts here on how to entrust our oil/gas production to the government, we stipulate that we assume an honest government. How would we get that done? Is it possible, would there still be investment, would price be ok , since there is no competition?
You say it all depends on the government. Yes, as that is the question…so how does govt do it? Don’t mention corruption, everything on the up and up.