Home› Tug Tavern

Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Sign In Register
Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

Problem solved by Kindergarten economics

CuntWaffleCuntWaffle Member Posts: 22,499
in Tug Tavern
· Share on FacebookShare on Twitter

Comments

  • WestlinnDuckWestlinnDuck Member Posts: 15,234 Standard Supporter
    PurpleThrobber said:

    Maybe the government should just nationalize the oil companies. That's worked out great in Venezuela.

    Yeah, imagine what the US government bureaucracy could do with the oil industry. It would be like how well the US and Oregon Department of Transportations work. Bridges springing up over night and freeways widened in a year. Hell, oil production would just skyrocket.
    · Share on FacebookShare on Twitter
  • Bob_CBob_C Member, Swaye's Wigwam Posts: 10,488 Swaye's Wigwam
    PurpleThrobber said:

    Maybe the government should just nationalize the oil companies. That's worked out great in Venezuela.

    Have seen more than a few suggest that. lHave also seen a lot of price controls suggestions. Unintended consequences galore. People are really dumb.
    · Share on FacebookShare on Twitter
  • Fenderbender123Fenderbender123 Member Posts: 2,979
    Maybe we can do the math. I'm willing to bet that oil companies aren't even profiting 25 cents for every gallon purchased. either way, obviously that's a stupid solution. Lowering prices for any reason other than reduce in demand or increase in supply will create shortages.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 15,234 Standard Supporter
    Well, for Exxon Mobile their profit percentage is 8.4%. So completely eliminating their profit on gas at $5 a gallon would reduce the price by 42 cents. And like Venezuela, their oil production would plummet.


    · Share on FacebookShare on Twitter
  • SFGbobSFGbob Member Posts: 32,090
    Notice how he doesn’t mention getting rid of the Federal and state taxes on fuel.
    · Share on FacebookShare on Twitter
  • MikeDamoneMikeDamone Member Posts: 37,781
    Or maybe if people just made more money then they could afford gas.
    · Share on FacebookShare on Twitter
  • LebamDawgLebamDawg Member Posts: 8,709 Standard Supporter
    it might be kindergarten level, but I was told there would be no maff
    · Share on FacebookShare on Twitter
  • GrundleStiltzkinGrundleStiltzkin Member Posts: 61,496 Standard Supporter
    CuntWaffle said:

    If one thinks that makes cents (lolololoollool), get a load of the per-gallon gas taxes. Savings eight ways to Sunday.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 15,234 Standard Supporter
    UW_Doog_Bot said:

    Lulz Carter did price controls. It's part of what caused the crisis. Biden really is trying to make Carter not the worst president.

    When Reagan got rid of the price controls on oil in January 1981, noted economist, Ted Kennedy, said that this would just result in higher gasoline prices. For some unknown reason, the price of gasoline plummeted while the American economy grew dramatically under Reagan.


    · Share on FacebookShare on Twitter
  • PurpleThrobberPurpleThrobber Member Posts: 44,043 Standard Supporter
    MikeDamone said:

    Or maybe if people just made more money then they could afford gas.

    I know - print more money so employees can pay people more money and everything else will stay the same price.
    · Share on FacebookShare on Twitter
  • SledogSledog Member Posts: 33,723 Standard Supporter

    · Share on FacebookShare on Twitter
  • 46XiJCAB46XiJCAB Member Posts: 20,967

    It's not Joey's fault that gas prices have been on an upward trajectory since the day he was elected. That's why he just sent a staffer to meet with the narco-dictator that the US doesn't even recognize as the legit leader of Venezuela.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 15,234 Standard Supporter
    Don't worry. The future looks so much better - if you are buying oil futures.

    https://www.powerlineblog.com/archives/2022/03/oil-dont-look-now-but.php

    OIL: DON’T LOOK NOW BUT. . .
    One of my go-to persons on energy is John Kemp, a London-based analyst. (Follow him on Twitter, or you can get on his email list if you like.) His note today examines U.S. oil stocks, and guess what? Our oil sticks are rapidly depleting, in what Kemp calls “the biggest oil shock since the 1970s”

    U.S. petroleum inventories are depleting to critically low levels as output fails to keep pace with the rapid rebound in consumption after the pandemic, putting intense upward pressure on oil prices.

    Petroleum inventories were depleting at an unsustainable rate even beforeRussia’s invasion of Ukraine and the disruption of Russia’s petroleum exports in response.

    U.S. inventories of crude oil and refined products outside the strategic petroleum reserve have fallen in 63 out of the last 88 weeks according to data from the Energy Information Administration (EIA).

    Commercial stocks have depleted by a total of 315 million barrels since the middle of 2020, more than offsetting the 204 million barrels accumulated during the first wave of the pandemic and lockdowns.

    This chart from his latest chartbook likely portends much more pain at the pump ahead.


    · Share on FacebookShare on Twitter
Sign In or Register to comment.