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Piggyback on Gas Prices
Old 06-15-2022, 02:47 PM
  #1

Oil companies are making billions in profits. Isn't this price gouging?

https://www.usatoday.com/story/money...22/9686761002/


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Yes,
Old 06-15-2022, 03:08 PM
  #2

Yes it is. Transferring all the cost and risk onto us.
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Old 06-15-2022, 03:10 PM
  #3

I am not sure why our country can't do something about that, either. I think the oil companies should be completely ashamed of themselves.
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Old 06-15-2022, 03:21 PM
  #4

Yes. They should be punished for it. How about they give those billions in profits back to the communities? Our schools could use that money more than an oil exec!
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Old 06-15-2022, 03:32 PM
  #5

Utterly ridiculous and my gas prices seem lower than most based on my post last week!

Greedy execs!!


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gas prices
Old 06-15-2022, 04:30 PM
  #6

When you say oil companies are making billions in profits, it is really the investors/shareholders in those oil companies that are making those profits. What I have learned is that the board of directors in each company has a fiduciary duty to maximize profits. And apparently the way to make those profits is by not increasing oil production but just raising the price of gas. Shortages raise prices.

In recent years there was a glut of new oil drilling, and the US became the top exporter as well as the domestic supplier, but because of that, prices were low, and investors were not happy. Now happy times are here again for the rich!
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Old 06-16-2022, 07:21 AM
  #7

Well yes…but this increase in profit rate may change soon because many people will be cutting back on using fuel due to its cost. This article uses data from the first 3 months of this year when people were traveling a lot post pandemic. This should soon slow down dramatically. We’ll see…
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