Why gas prices are so high. (1 Viewer)

[Captain Cranks]

The answer

You can skip to 15:00 if you're not interested in the history of oil production.

 

[RCon]

tl'dr...  I'm assuming the answer is "because the gas companies can get away with it"?

 

[The Commish]

I was laughed at in threads for suggesting a good many of the things brought up here...weird.

 

[Captain Cranks]

tl'dr...  I'm assuming the answer is "because the gas companies can get away with it"?

Basically, the oil industry realizes it's reached an era of declining demand, so they're not investing cap ex or using their leases in order to maintain tight supply fundamentals.   

 

[FairWarning]

Can’t wait for electric cars to pay big road taxes. 

 

[urbanhack]

tl'dr...  I'm assuming the answer is "because the gas companies can get away with it"?

https://oilprice.com/Energy/Energy-General/Upstream-Oil-Industry-To-See-Highest-Profits-Ever-In-2022.html

 

[urbanhack]

Can’t wait for electric cars to pay big road taxes. 

Can't wait for the electric car guys to start receiving their subsidies:

https://e360.yale.edu/digest/fossil-fuels-received-5-9-trillion-in-subsidies-in-2020-report-finds#:~:text=Fossil Fuels Received %245.9 Trillion In Subsidies in 2020%2C Report Finds,-An open-pit&text=Coal%2C oil%2C and natural gas,8 percent of the total. 

 

[urbanhack]

Has anyone watched this yet?

https://www.pbs.org/wgbh/frontline/film/the-power-of-big-oil/

 

[Grace Under Pressure]

BP profit more than doubles on 'exceptional' oil trading

The UK-based energy giant said Tuesday that its underlying profit soared to $6.2 billion from $2.6 billion in the same period last year, boosted by "exceptional oil and gas trading" conditions.

Oil prices have shot up by nearly 40% since the start of 2022, with benchmark Brent crude trading well above $100 a barrel.

 

[FairWarning]

Can't wait for the electric car guys to start receiving their subsidies:

https://e360.yale.edu/digest/fossil-fuels-received-5-9-trillion-in-subsidies-in-2020-report-finds#:~:text=Fossil Fuels Received %245.9 Trillion In Subsidies in 2020%2C Report Finds,-An open-pit&text=Coal%2C oil%2C and natural gas,8 percent of the total. 

Something tells me that people will not like Musk and the big car companies getting subsidies.  Whether if they get them or not, a Tesla owner is still using the roads that gas vehicles are.

 

[Captain Cranks]

Something tells me that people will not like Musk and the big car companies getting subsidies.  Whether if they get them or not, a Tesla owner is still using the roads that gas vehicles are.

"gotten subsidies"

 

[urbanhack]

Something tells me that people will not like Musk and the big car companies getting subsidies.  Whether if they get them or not, a Tesla owner is still using the roads that gas vehicles are.

Why are any for-profit companies (for industries that we depend on) getting subsidies???????

 

[FairWarning]

Why are any for-profit companies (for industries that we depend on) getting subsidies???????

Same reason we build stadiums for billionaires. Somewhere down the road, the electric car owners will have to pay for road maintenance also.