May 9, 2022·edited May 9, 2022Liked by Erik Dolson
Gas prices under Biden increased 48.4% in the year before Ukraine even though he blames Putin for all his problems. Within days of taking office Biden attacked oil companies, halted leases on federal lands, and took a series of executive actions all aimed at reducing gas and oil production. Combined with more demand from consumers the rules of supply and demand occur.
Friday California announced they will not have enough power this summer but of course did not say they have shut down many natural gas fired electric plants and now produce less power. Perhaps like biden they will also blame putin.
I know I do not like the high pump prices but those with trust funds and oil company stock certainly take some pleasure in higher profits.
Shell made 13%. Apple made 26% profit a bit better than Google. Ask what each company invests in toward their future growth and what they produce of real value to the economy. Nominally Shell will reinvest in more energy production worldwide.
Alas, Exxon only made ~6% profit. It has a bit less to reinvest in energy production. Exxon leases in NM are not being exploited for policy reasons but Nigeria will benefit.
For consumers, Bank of America made 31% profit. Money makes money, remarkable. Sadly in the coming days, the market thinks BAC will not do quite as well. They will be hurt along with consumers as wallets tighten.
So I dont like the high prices of the consumer goods but tell me how to not pay the higher prices. I have to travel to work to pay my Bill's. I have to eat. I feel I'm forced to pay the prices what options do I have. Only thing I can hope for is things change in November
Gas prices under Biden increased 48.4% in the year before Ukraine even though he blames Putin for all his problems. Within days of taking office Biden attacked oil companies, halted leases on federal lands, and took a series of executive actions all aimed at reducing gas and oil production. Combined with more demand from consumers the rules of supply and demand occur.
Friday California announced they will not have enough power this summer but of course did not say they have shut down many natural gas fired electric plants and now produce less power. Perhaps like biden they will also blame putin.
I know I do not like the high pump prices but those with trust funds and oil company stock certainly take some pleasure in higher profits.
Shell made 13%. Apple made 26% profit a bit better than Google. Ask what each company invests in toward their future growth and what they produce of real value to the economy. Nominally Shell will reinvest in more energy production worldwide.
Alas, Exxon only made ~6% profit. It has a bit less to reinvest in energy production. Exxon leases in NM are not being exploited for policy reasons but Nigeria will benefit.
For consumers, Bank of America made 31% profit. Money makes money, remarkable. Sadly in the coming days, the market thinks BAC will not do quite as well. They will be hurt along with consumers as wallets tighten.
So I dont like the high prices of the consumer goods but tell me how to not pay the higher prices. I have to travel to work to pay my Bill's. I have to eat. I feel I'm forced to pay the prices what options do I have. Only thing I can hope for is things change in November