This is exactly why corporations love the “left vs right” drama, because the real fight needs to be between the bottom and top (people vs corrupt corporations)
@@TheRealLesterGreen Only people that waste their lives inside these legal fictions, or profit from the non-productive extraction of wealth they generate, say that. Everyone that has actually seen corporate world from inside knows that the morons-in-charge are worse than bureaucrats in government.
labor unions don't fix prices.. they negotiate with the company for better wages or benefits Though many just wanted a safer place to work at.. because safety often comes behind profits.. (And many car companies cut back on safety to increase profits) Also some know their wages get stolen or their getting unfairly paid based on how much profit is being made.. If a CEOs is makeing almost a billion or more.. then they surely can pay more than minimum wage and then some
@@SgtJoeSmith Apples to oranges - labor unions negotiate contracts (wages being part of the contract), corporations adjust prices unilaterally *at will* and consumers often have little recourse.
So...after the FTC finishes their investigation, then what? Another fine which is a drop in the bucket to these psychopaths? We all know that these people will never see the inside of a jail cell, nor will they break up these corporations.
Overall, 51% of traders anticipate that this year will be favorable for stocks, mutual funds, and other equity-based investments, despite the high returns currently offered by Treasury yields and other safer, cash-like options. I’m actively seeking market opportunities that could generate $1 million ahead of my retirement target in 2025.
Focusing on stocks with a history of stable, increasing dividends-even during economic downturns-can be a solid strategy. Alternatively, consulting a certified market strategist can provide valuable guidance on promising equities.
Absolutely. Having the right financial planner is critical. My portfolio is strategically diversified for all market conditions, and it recently achieved a 90% increase since early last year. My CFP and I are aiming for a seven-figure goal, though it may take until Q3 2024.
I work with Rebecca Lynne Buie, a licensed advisor. I suggest you research her name; you should be able to find the information needed to initiate contact and arrange a consultation.
Exactly. If memory serves me correctly, there were 57/58 refineries shut down between 1985 and 1995. I may have the numbers wrong, but a lot of refineries were shut down and you could see the increase of gasoline.
@@monitor1725 There was government pressure to shut down smaller less efficient refineries. The larger a refinery, the more efficient it is and less polluting per barrel of oil. The EPA is in many ways responsible for making these smaller refineries too expensive to run.
And who regulates that? They are in it together. We have an illusion of a democracy. It’s a big club, and you ain’t in it - neither am I. transfer of wealth.
Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.
Exactly so. And the totally inept executives still only stay afloat because how many of them are monopolies. These jerks couldn't run a fair and competitive company to save their lives but of course the workers would take the blame
@@elisegeum1514 Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.
@@jamesrisse2173 Sounds like someone (you) supports electric cars, there by supporting slavery to mine cobalt and lithium for said electric vehicles. Which run off a grid powered mostly by what? Liberals commit atrocities to the planet just like anyone else.
@@jonm9361 The senators in the letter clearly are in strong favor of the merger, try to blame the Biden administration for high prices and make claims like "costs to consumers will fall" after the merger. They try to disguise it in language of investigate it fairly. I do agree that the video misrepresents it somewhat, but it's easy to see that they really don't want it investigated in my opinion.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
And one candidate for president wants to give additional corporate giveaways so he can continue to get more campaign money. Time for a tax hike on corporations and a decrease on the little guy.
@@grayman618one thing I find very fascinating is that over the years, around 1960-1970ish corporations used to pay up to 90% in taxes. It’s been slashed down to about 35% these days, and trump wants to lower it even further. With the tax code filled with even more loopholes, how are we supposed to manage govt spending?
The Saudis cut production by 1.5 million barrels a day recently. Why is MBS doing this. It costs them money? But someone in America is "owned" by MBS, he said it himself. His name is Trumps son in law. If tRump gets back in the White House because people are pissed about the cost of gas, look at who stands to gain from high gas prices and why they are artificially high.
This is been happening for so long and all and everyone Involved has made all their money and he’s not willing to give up all that they made. It’s just the way the American corporations are about greed and making money off the American people.
Thanks for exposing them like that. The old system needs to change, we cannot go longer like this. Disgusting how a handful of people sets the rest of the world up to chaos
It’s like the International Monetary Fund - a select few control prices in the US and the world so THEY benefit from the hard work of others and not the ones who actually do the hard labor. These “executives “ with millions of bonuses do nothing maybe shuffle a stack of papers once a day and spend the rest at the golf course.
Did you know that state and federal taxes add about 50 cents per gallon of gas, while the oil companies make about 30 cents per gallon? In other words, the government makes more off of you than the oil company does and the government doesn't spend a penny to drill for the oil, transport the oil, refine the oil, and ship it it to distribution facilities.
That tax money goes for the roads you drive on. The 50 cent tax and the thirty cents the oil company makes doesn't add up to three four or five dollars at the pump does it. It's called price gouging..
How are we subsidizing oil companies. I sure would be like to know. It’s sure not the depletion allowance. I have mineral ownership and paid money for them on my farm it’s depreciation just like any other business.
From a recent Forbes article - this is the recent Biden subsidy plan for the oil industry, which the Republicans criticize as not enough. Republican administrations tend to increase these amounts. "In the U.S., the fossil fuel industry collected $757 billion of incentives in 2023, from preferential oil and gas lease and royalty rates, specialty tax preferences, research and development aid, loan guarantees, and tax incentives..."
@@arnoldjohnson3317 Historically, subsidies granted to the fossil fuel industry were designed to lower the cost of fossil fuel production and incentivize new domestic energy sources. Today, U.S. taxpayer dollars continue to fund many fossil fuel subsidies that are outdated, but remain embedded within the tax code.
We also subsidize beef while they routinely destroy water, pollute enmasse, and brainwash people into overeating beef until they have a heart attack. We subsidize everything that's bad for us. There are hundreds of lawsuits right now against beef/dairy operations for destroying groundwater, drinking water, waterways, reservoirs/lakes, etc, just in the US alone.
Indeed it is. All the regulations that were put in place in the 90s to stop monopolies, promote competition, and keep prices down have been steadily wiped away by the federal government starting in 2000. Now the Oil industry, the food packaging companies, and our financial institutions have consolidated under just a few companies and lending institutions to dictate prices and control supply. They are steadily letting their greed drive our population into poverty. The fact that 38 republican senators signed this letter to get the FTC to back off their investigation is very telling.
False, government corruption is the real danger. They make all the rules, want to have all the guns and control all the money! That’s why nationalized socialism and Marxism is so dangerous! We can manage with corrupt individuals easier than corrupt government!
Lina Khan is probably the greatest advocate for consumers in the country right now. Brace yourself for a bunch of random internet bots coming in to bash her for going after their bosses.
@@0my high crude oil does not benefit the environment. The demand curve for oil is largely inelastic and is not impacted by price fixing. So falsely inflating the price of oil just means more money going into the oil industry which means more money for lobbying, propaganda and disinformation.
Why not? They are the same people that own the media too. And big pharma, and the food industry, and the insurance companies, and the military industrial complex, and the telecommunications industry, and the bankers etc etc. they are all linked. They own everything. Including your so called democracy
It's because the of Biden regulations and policies, oil companies have to pay a higher price to drill and refine because of the new Green Deal regulations. That extra money ain't coming out of their profits so they pass it on to us the consumer.
Many years ago I worked for a CEO of an oil company. This was during the oil shortage in the 70s . I saw paperwork on his desk that showed at what price the shortage would end . As soon as it hit that price there was plenty of oil available.
This isn't limited to gas prices. Every major industry with different companies now collude to increase prices at the same time. And I mean every... single...one.
Their profits TRIPLED in 2021. Profits rose steadily, then in the last quarter of 2022 they reported that their profits had DOUBLED. Yeah. That’s price gouging
What is your source? Who are you talking about? Some selective use of years and possibly statistics here. In order to get some idea of what has really gone on for the last few years, I looked up earnings per share (EPS) for EXXON Mobile. I just picked them because they are a big U.S. corporation. Here is what I got from macrotrends (the first site that popped up on my search) on the internet: 2020 to 2021 EPS DECLINED by 202.67%; 2021 to 2022 EPS INCREASED 146.01%; 2022 to 2023 EPS DECLINED 32.96% ; for the 12 months ending June 30 2024 EPS DECLINED 33.12% year over year. The fact is the oil industry has always been boom or bust. During boom years everyone hollers price gouging. During bust years, only stock holders, families of oil company production employees and oil company creditors seem to notice.
That's what happens when you get rid of a good president that had everything under control and gave us record low gas and oil prices but more importantly complete energy independence from every other nation in the world for the first time in our lives which resulted in obviously increase National Security low inflation and a booming economy period only a hateful ignorant person would be against this and what to vote for somebody who changed it on his first day in office like Joe Biden did. stop playing sports team and personality politics, instead vote for experience and results
The FTC is going after companies for price fixing? Can't wait for some judge to rule that large companies are allowed to fix prices as a matter of protected speech.
Not only that, but it is the basis of capitalism. A vendor can charge what they feel is a reasonable price. Customer grievances go to FTC. Executive branch has to use Executive Orders to activate its checks and balances on the issue. Government price fixing is socialist, according to capitalists everywhere who begrudge being required to clean up their own messes or provide health benefits to its employees who have endured harm in doing their job, while unaware of side effects of these jobs. Until it's too late. And then they are thrown under the bus. It's American business models such as these, and wholesale bribery that generate so much animosity against America. It's NOT you and I, it's the businessmen they hate so much.
@@ronaldviens7862 Capitalism implies there is competition, but our government has allowed these companies to become monopolies. Theodore Roosevelt is spinning in his grave.
The state and the us government make more off of a gallon of gas than the oil companies do. State taxes average about 32 cents per gallon, and the US adds 18.3 cents per gallon for a total of about 50 cents, while oil companies make about 30 cents per gallon.
WHEN SOMEONE CAN REALIZE THAT PROPAGANDA IS A NAFARIOSLY CREATED AGENDA !! TRUTH MATTERS !!?? WAIT UNTIL IRAN CLOSES THE STRAITS OF HORMUZ !!! BRIC!!! #2 PIPE LINE ?? GERMANY ?? STOP THE USE OF THE AMERICAN DOLLAR AS A WEAPON!!!
@@Smedley1947 🎯....The pump is not the only place oil and gas companies profit, it's just their fastest form of increasing daily revenue by the minute if not seconds...Petroleum products are in almost everything...🤨
@@shenmisheshou7002 and the government spends their money on infrastructure and other energy sources to protect our environment like they're drinking water and the area you breathe not stuffing their pockets like big corporations.
Unions playing you like a bitch? They just got a 12% increase in pay for 30,000 workers. And yes Unions get a cut. So enjoy they higher prices Unions have ever in world history made things cost less. And when they spend workers paychecks for dumbass videos like this it's because they want more money. From you
Everyone here seems shocked that a CEO’s 1st allegiance is to his shareholders. Weird. “I pledge allegiance to my shareholders for I know they’ll fire me if I put anything before them, country included.” That’s not a knock on CEOs, it’s just their job description.
Project 2025 is nothing but a plan to turn the country over to corporations. Now you understand why they need to fire all of the bureaucrats who know what they're doing to replace them with Toadies from the many Industries who are loyal to Donald Trump. This is just like communism with everything being handed to the party of the rich.
Because it makes them rich too, it is really quite simple. Watch them jack up prices before the election. The outrage will be directed at the left instead of the greedy corporations.
Because big oil throws money at political stooges in the form of bribes...er I mean "political donations" pass a few bills in oils favor, block others that could hurt their profits and then the congress critter finds a nice bonus to their re-election fund.
All human activity is financed thru the same International Central Banking System that commands our DoS DoD and CIA as their muscle since 1945. US politicians are recruited puppets with no real control over any part of this treasure harvestation. Politics are the entertainment division of the Military Industrial Congressional Complex that Eisenhower warned us about in his farewell speech in 1961...go RUclips that speech.
@40CaliberMr Really you can't understand? Just ask yourself how does bribing officials in Congress figure into the equation. There you go, it's because Congress has bought off by the petroleum industry. See that wasn't so hard. Now you know. And when Trump is re-elected he is going to turn loose every facet of the business world by doing away with all their regulations so they will be free to do any God damn thing they want in the way of pollution; screwing up your air water and food. For money. It's that simple. This is not a complicated thing.
Not surprised at all. These prices are part of their reelection platforms. Republicans want this and I’d be surprised if they are not only blocking the FTC but also have a deal with these companies.
I worked for an Oil Company for 10 years and done of this surprises me. But when I tell people what I know, they tell me I don't know what I'm talking about.
This is the same problem with all products. Eliminating the competition by becoming the competition squeezing every last dime out of those that need your product to survive.
Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.
and people believe if we drill more prices will come down. We are already producing a record high amount as of last year and it's still high. It's called price fixing but if you listen to the msm price fixing isn't happening, of course they are owned by billionares that do price fixing.
Oh the corrupt government that has trillions it CANNOT account for? The government that has given billions to Ukraine. The government that is giving Billions to illegal immigrants while Americans struggle. Your being conned but hey Venezuela has an excellent socialist model or how about Cuba, or Honduras. Oh wait they all fighting to come HERE.
And then remember how much YOU as an individual received during the great recession even though you pay taxes, too. And then let's look at how much those forgiven PPP loans were compared to the pennies everyone else received.
I laugh when trump says "drill baby drill" & his followers start screaming thinking more drilling willl give them lower gas prices. The truth is with directional drilling, rigs can set up on one location & drill multiple holes. When oil prices exceeded $100.00 a barrel (and could have provided cheaper gas at the pumps), those energy producers capped the holes they drilled.They kept that oil & gas that the US needed from ever being produced. And they continue to do it today. The drilling has already took place but the oil & gas sits in the ground because producers want high gas prices & high profits. Common sense tells you that you can't produce oil & gas if you don't put production equipment on the location & pipe that energy into pipelines where it become gasoline & natural gas for our homes. The "drill baby drill" is just an act. It's a game that many republican energy producers are playing to fleece America.
@WALLYDRAG502 Trickle down fuel costs. The gouging of fuel costs are hurting all of us. The big oil companies just got caught colluding to keep prices high because they are greedy and they are trying to keep the shareholders and investors happy. Big oil is screwing us.
A lot of things in our country should be regulated, all these corporations are at an all time greed high! The working men & women are paying for their extreme luxuries!!
Record profits. Transfer of wealth. Allowed to happen by your representatives, who also gain from these prices. They do not work or speak for you. Your democracy is an illusion.
In addition to manipulating crude oil cost they also scammed us another way. When the gas prices shot up after COVID I did some rough figuring. The gas companies were blaming pump prices on the cost per barrel price. But when I used the lower cost per barrel numbers to estimate their cost to refine and distribute, the pump prices went up unreasonably. Just because crude oil cost per barrel increases 20%, that should not equal a 20% increase per gallon at the pump. The refining and delivery cost should have no reason to go up proportional to the increase in crude cost. But that's what they were doing. Using the increase in crude prices to gouge us at the pump. Politicians promised to hold hearings. I sent a copy of my calculations to my Congressional representatives but never heard back or anything more about the matter.
This is called a transfer of wealth, and a collapse of our civilization and environment. This is called capitalism on steroids. Out of control capitalism.
There’s 346million people in the USA of that there’s 131million households. Adding 200b$ in cost to gas cost each household at least 1500$ extra a year. These criminals need to be put in prison. And when I say criminals I mean the ceos and the politicians. When is enough enough
They let them get away with it look at trump getting away with everything bankruptcy, insurrection,felonies, dont pay taxes etc... what a joke,people getting possed off
@@HH-le1vi To get into deep discussion about this would be beyond my knowledge on the subject. But,on the surface,it’s easy to see that too much DE-REGULATION can attribute to contaminated water,soil and air. Not to mention horrible accidents,such as the train derailment in E. Palestine,Ohio. Yes,it would be great to enforce penalties to where they actually carry some weight. But,better to have SOME regulation than none,though.
@@francismarion6400 for a time yes. and only if you don't subsidise other sources of energy. but a step-wise reduction of subsidies for fossil fuel would immediately create an enormous pressure on the energy market to find other forms to generate revenue and open up possibilities for renewables to emerge.
@@francismarion6400 take those subsidies and use them to subsidize electricity for families and small businesses, any leftover can go to renewable expansion and efficiency or maintenance.
Wrong. I don't care what the FTC says. I trust CEO's more than govt...govt prices would be worse. Biden didn't help cutting off that Canadian pipeline.
Yes, it’s well known that the prices of gas is fixed; the problem is that a non-trivial amount of people believe that the price fixing is purely done by the government, even when confronted with unimpeachable evidence to the contrary.
@@davidbrakefield188 that's not entirely true. Citizens can lobby the US government or the US government Can voluntarily choose to sue on behalf of the American people greatly increasing the portion of the settlement that goes to US citizens. All that said the government has a poor record of settling for a much smaller amount of money than what a for-profit law firm would have received. Regardless of which someone else is going to benefit too much is not a reason to not do a thing that needs to be done.
@@runed0s86 again that's not really true. If the US government sues on behalf of the American people part of the settlement will include fuel companies not increasing prices to pay for the settlement of their collusion to increase prices.
Canadian here. I didn't even have to watch the whole thing to know that this is true. the oil companies ALWAYS have an excuse to raise the price but can't seem to find a reason to lower it.
@@mitchelpinion1852 if you're referring to oil, yes I am aware of that. the price of gas, however (where I live) goes up and stays there for a while, then at some point it goes up again and stays there. very rarely will it come down. one trick the oil companies use is to say that the oil in the system has to make it's way down stream until the next price reset. I should have clarified my reference to raising the price of gas, as opposed to oil.
@@kevinducharme1263 Gasoline prices go up and down all the time. The long term trend is up, just like everything else. Inflation is a government policy, not an oil company policy. Of course oil companies want to make all the money they can, that's called free enterprise. I am 76, and, proportional to other prices, gasoline doesn't seem any more expensive to me than it was when I was 20. The best protection against too high of prices is to prevent monopolies, reduce demand and increase supply. Things like price controls are proven to reduce supply and cause shortages. Of course there is one big semi-monopolistic player in oil - OPEC. Our government has no control over them and no real control over the international price of oil OR gasoline. With the introduction of fracking and increased U.S. production (which the Democratic party has done its best to resist), the power of OPEC has been significantly reduced. The government can, and should prevent domestic monopolies and price fixing. The executive branch just needs to do it's job in that area. But biggest determination of prices is international supply and demand.
The conspiracy theory is that Musk supports Trump because Trump wants to make sure these CEOs keep doing what they are doing. That means EV will become even more interesting for the American public. Now that Musk can cut FTC’s resources, one can only imagine these merges coming back to the table.
The obsession to hoard more and more assets is a mental health condition that capitalism rewards, at the expense of those hoarded from. Get clear around this phemomenon and make different choices, or shut up and bend over, and don't whimper.
Thats not even a controversial statement anymore. The W.T.O., the fricken international union of capitalists; agrees. I mean, they want the capitalism to continue, but the metrics to change. In some mysterious manner that will likely make less sense. But they agree. And when they agree capitalism has became too much about capital; then its just embarrasing and backwards to disagree.
My favorite part is when everyone starts whining to the gov to do something about it, when all they can do is just manipulate the market with their own stash of crude, or try to suck up to the Saudis. And then when gas goes down they start buying big ass trucks again.
Oil has been corrupt since the beginning. We need to help Venezuela move towards freedom and 3-Dengage as a oil provider. At the same time we need to push electric vehicle prices down, get them made in the US, and build electrical infrastructure. Break the OPEC corruption scheme.
Project 2025 would make all civil servants political appointees instead of industry experts. Imagine FTC, EPA, FCC,FBI, IRS, DOJ…. All political appointees
Key Takeaway, 37 or 38 governors yes, governors pushback on the FTC. I equal that to racketeering. Governments or governors in cahoots with the oil production industry. And what bothers me worse is that 80% of Americans do not understand the implication.
That’s the question. I’ve been watching this for decades. Prices go down around thanks giving then go up right after new years so that people have more money to spend on gifts and travel. School ends, prices drop (a tiny bit) so may people travel. Same investors in hotels and resorts, also invested in oil. Most of us don’t even know we’re being played. And I guess knowing vs not knowing makes me at least feel sane!! 😅
This specific monopoly can only do what it does because of people's reliance on cars. So a simple solution is to fight for less reliance on cars. You can go to your local city commission meetings and fight for less car-centric infrastructure. Odds are there are many roads/areas in your city that the planning department is looking at repairing/improving. Pushing for road diets where needed is crucial. I don't believe there is any other way that isn't full blown barbaric riots.
Getting an electric car is not the answer. They cost to much. Nobody can afford to get a charger instslled in their home. And if you have more then one car , you have to have more then one charget. It cost more and takes more resources to make electric cars. Thats not an option at all. But good public trasportation is. Trains are another good idea. Other countrys have trains and it works out well for them. Im tired of listening to this same old arguement, but as long as there are billionaires that refuse to help the average person we will never ever get anything that will help us. They make cars that suck down fuel on purpose and every old over the hill in a midlife crisis man has to have a huge gas guzzling truck to drive to the damn store. So nothing will ever change for the better in this country. The billionaires who run this country won't let that happen.
They also buy up all the drilling leases than set on them, keeping anyone else from drilling and putting the crude on the market. All to keep prices high.
@8:20 - "But a back of the envelope calculation suggests the cost Pioneer's collusion alone was about $200 billion a year in higher prices. That's thousands of dollars a year for every American family." Hmm, $200P9 / 130P6 families => $1,538 per year per family, not thousands.. MPU needs a new envelope. Pioneer Nat Resources 2023 revenue totaled $19.3 billion. Pioneer Nat Resources oil 2023 production totaled 136 million barrels Permian Basin total 2023 production totaled 1.92 billion barrels. USA crude oil total consumption, 2023- 6.94 billion bbls. If the premise of this video is correct, then PXD was able to increase the average price of crude oil by approx $29/ bbl in 2023. The average crude oil price in the USA in 2023 was about $82.50/ bbl. Take away that supposed $29 increase from collusion and PXD would have been selling crude for $53.50/ bbl, likely below its cost of production. Why didn't the crude oil price stay at $100 or $90/ bbl if Pioneer and OPEC had such control over pricing? @4:55 Oil prices rose dramatically in 2022, yet oil companies did not haul ass to drill, drill, drill. Uh, after having little return on their investments for the prior 5 years, the number of active oil rigs fell and oil field workers had to find other jobs and many did not return. Also, the West Texas oil pipelines are pretty much at capacity and no one wants a new pipeline buried in their backyard. Another boom and bust cycle. And how long did the $100+/ bbl oil last? Also, a number of gas and diesel refiners shut down and never started back up. If Pioneer and other Permian Basin producers are limiting production to increase the price of crude, why are the West Texas oil pipelines at their maximum capacity? ==> Even if Pioneer had colluded with OPEC, the assertion that this cost consumers $200 billion per year in higher prices is ludicrous. ********************** Another: Permian Basin, otherwise known as PeB. I have worked in West Texas/ Permian Basin and never heard it referred to PeB other than on some maps. If oil companies are making so much money, are you buying shares in them? If you had bought BP stock in 1990, you would have gained -0.5%/yr; Shell, 3.9%/yr, Exxon Mobil, 6.4%/yr + dividends; Pioneer Nat Resources, 7.7%/yr. (So much for the huge profits claimed in this video.) The S&P 500 Index gained 7.1%/yr over the last 27 yrs. Biden and Harris do not want to sell leases in the most lucrative areas of the Gulf and want to severely limit oil leases on Federal land. Harris is against fracking, (even if it follows environmental safeguards?). Will that lower fuel prices? Will that provide good paying jobs? Will that help the USA balance of trade? Will that help USA security? If an Administration wants to force movement away from fossil fuels, it should raise the price through taxation, not by limiting production and not by making it less efficient.
After record low profits in 2020, it was of zero surprise whatsoever when prices skyrocketed as soon as the pandemic was over, for whatever reason was convenient. None of these companies ever had any intention of just writing off those losses, not when they had the power to recoup them at our expense.
If you think it’s bad in the USA, be very happy you don’t live in Europe! It’s 9 dollars a gallon in the UK when I went over there this year and rented a car. I was shocked! 3.50 didn’t seem so bad after that experience lol. I do however think these big corporations should not price gouge no matter what it is based on… food, gas, electricity, etc…
*You know what happens when these greedy corporations raise the prices of gas for extreme profit? They raise the cost of literally EVERY OTHER PRODUCT AND GOOD. Everyone is so quick to blame one party over another for these prices…when it’s really the heirarchy of oil tycoons causing all of us harm.🤦🏼♂️*
You are partially correct ... However unless you have a plan to make people not be greedy we need govt watch dogs like Lena Khan ... When Republicans get in and worse if Trump gets in she will be out of a job ... Because the plan is to close or neuter consumer protection departments.
The sugar industry is under investigation now for price-fixing. It's the same thing. The biggest companies colluding to make sure retail prices keep rising, regardless of what the "market" says.
People seem to forget gas was 7 dollars a gallon here in california back in 06. People always think whatever political party is in office controls gas and that's so not true. But it is amazing that whenever someone new is voted into office gas prices go down for a few months almost every single time.hmmmm
@@benhernandez8738 well, I also don’t pay a cent to charge our Tesla as it’s grandfathered in to Supercharging for free for life. The other three EV’s out family drives charge off of the solar and battery back up. And I still turn the meter backwards. I’ve got a $101 credit in this months pay cycle as I’m typing this right now. And every other year, I have my utility send me a check to cash out the excess energy generated. So effectively, it doesn’t cost anything to power the other three EV’s either. Yes, the solar panels and batteries had an upfront cost, but they’ve already returned more than half of my investment in what I don’t pay in electric & gas bills, with a full ROI estimated to be reached in just 9 more years, due to the 1:1 net metering agreement we are grandfathered into for the next 24 years. As a result of generating my own fuel in excess, I’ve also switched all of my appliances from gas to electric, so I don’t have a natural gas bill either. And if the utility companies raise the price of a kWh, and it’s likely they will, it wouldn’t affect us as we already generate more than we use and no matter what the rate is, we still receive either bill credits or we receive a check for the net excess. If anything, the more a kWh costs, the bigger the checks we’ll receive. 💰 None of this is new. Millions of people have solar and battery back up and EV’s. Yet there are still people choose to pay natural gas bills or pay for gasoline, oil changes, etc when they don’t have to. And if you generate enough electricity and store it to offset or eliminate peak usage, you eliminate your electricity bill as well. It’s not rocket science. And if there’s an outage at the power company, my home remains powered and I can still charge my vehicles. Conversely, gas station pumps don’t work when power goes down. Plus electric powered vehicles last much longer and require far less maintenance. And you don’t have the inconvenience of having to stop at gas stations all year long. 90+% of most EV drivers charge from home, waking up to a “full tank” every day. And the average EV now costs less than the average gas vehicles. It’s a net positive from the start. If the sun shines where you live, (and I’m guessing it does) there’s plenty of opportunity to capture the sun’s energy to power your home and vehicles. If you had all the fuel you needed to power your home and vehicles, why wouldn’t you use that fuel. Why would you buy fuel you can’t make? Month after month.. year after year? All that money just goes to big oil and foreign countries. Why not be self sufficient and in control of your energy costs? Or to put it another way.. if you could mount something on your roof that would generate free fuel silently and cleanly that your home or vehicle could run on, you’d probably use that fuel, right? Big oil would rather you not come to this realization, and have you continue to buy and burn their fuel instead. But you pay the high cost of doing so. And they get wealthy as long as you keep doing so. They’ll lobby and misinform the public as much as they can and as long as they can to keep you from making the switch. How long to continue to transfer money into their pockets is up to you.
I've always said the right has there hands tried to big energy!! And this is the reason they continue to give them gigantic tax breaks, because they not only get large donations but they are big investor as well, in return they profit large amounts as shareholders of these energy companies leaving them extremely wealthy beyond comprehension and they in return also benefit with extreme tax breaks!! The real question is what are they going to do about it!! This b.s. five year removal from the board does nothing to stop this greed!! He's still tied in and can make moves at will as he has always done!! You find out the truth about big energy drilling it's own people for profit and still nothing happens... I tell you what as much as I've been against EV vehicles... Choosing an alternative vehicle might just be the only way to nip these bastard right where it hurts them the most!!!
Greed and money man. Those greedy people can't just be content with their tax cuts and that money saving. They decide to go further beyond and suck the common person even more dry.
Stupidest comment ever. So seize land owners mineral rights? Seize investors money? Or would you pay for what you are nationalizing? If so how? Borrow more money? Look at our current national debt as an illustration of government management. You think the government would do a better job of meeting customer needs than corporations? Nationalization is a ticket to gross mismanagement and corruption. Mexico's national oil company? Venezuela's oil production? Any communist country that owns or has owned all the natural resources and industry? I guess you could cite Saudi Arabia. I am sure there is no corruption there. If it weren't for private enterprise there would be no oil fields or production to nationalize, either here or in other countries where the government now controls oil production and sales.
Look at California. Are you saying that's the gas company doing it??. Let the oil industry develop normally. Market forces will decide the price. It's demand and supply. Misinformation is the root problem in USA
This is exactly why corporations love the “left vs right” drama, because the real fight needs to be between the bottom and top (people vs corrupt corporations)
Johnny Silverhand was right.
@@autophreaktrishielda man of culture I see
But unions are by definition left
Corporations are people and usually the best and brightest people we have.
@@TheRealLesterGreen Only people that waste their lives inside these legal fictions, or profit from the non-productive extraction of wealth they generate, say that. Everyone that has actually seen corporate world from inside knows that the morons-in-charge are worse than bureaucrats in government.
What? Big corporations fixing prices? Shocking…
My actual face 😮 🙄😮😮
Sorry my face slipped there for a second
like the UAW fixing labor prices? Or teamsters union fixing labor prices?
labor unions don't fix prices..
they negotiate with the company for better wages or benefits
Though many just wanted a safer place to work at.. because safety often comes behind profits..
(And many car companies cut back on safety to increase profits)
Also some know their wages get stolen or their getting unfairly paid based on how much profit is being made..
If a CEOs is makeing almost a billion or more.. then they surely can pay more than minimum wage and then some
@@SgtJoeSmith Apples to oranges - labor unions negotiate contracts (wages being part of the contract), corporations adjust prices unilaterally *at will* and consumers often have little recourse.
Don't forget to include our government, which is constantly working against our interests!!
So...after the FTC finishes their investigation, then what? Another fine which is a drop in the bucket to these psychopaths? We all know that these people will never see the inside of a jail cell, nor will they break up these corporations.
Nor will anyone who's been ripped off ever see a dime.
A fine they pass on to the consumer
The administrations will change and it will all be quickly swept under the rug....again.
cONGRESS WONT LET THOSE FOLKS GP TO JAIL AKA THE HOUSE REPUBLICANS!
Remember the banking crisis. Total fraud and not one banker went to jail.
Overall, 51% of traders anticipate that this year will be favorable for stocks, mutual funds, and other equity-based investments, despite the high returns currently offered by Treasury yields and other safer, cash-like options. I’m actively seeking market opportunities that could generate $1 million ahead of my retirement target in 2025.
Focusing on stocks with a history of stable, increasing dividends-even during economic downturns-can be a solid strategy. Alternatively, consulting a certified market strategist can provide valuable guidance on promising equities.
Absolutely. Having the right financial planner is critical. My portfolio is strategically diversified for all market conditions, and it recently achieved a 90% increase since early last year. My CFP and I are aiming for a seven-figure goal, though it may take until Q3 2024.
I’ve faced significant losses and am holding on to try and recover. I need assistance-who is the investment advisor you’re working with?
I work with Rebecca Lynne Buie, a licensed advisor. I suggest you research her name; you should be able to find the information needed to initiate contact and arrange a consultation.
Thank you for sharing! I did a quick search and found her website. I hope she responds to my email soon.
I'd be shocked if they didn't collude. They're that corrupt!
Exactly. If memory serves me correctly, there were 57/58 refineries shut down between 1985 and 1995. I may have the numbers wrong, but a lot of refineries were shut down and you could see the increase of gasoline.
@@monitor1725 There was government pressure to shut down smaller less efficient refineries. The larger a refinery, the more efficient it is and less polluting per barrel of oil. The EPA is in many ways responsible for making these smaller refineries too expensive to run.
By design.
Yes. These corrupt multimillion, billion and trillion dollar corporate entities are proving that, The love of money is the root of all evil.
The finger waving is going to be like nothing else in American history.
Companies are not about products and services anymore, it's all about profit shareholders and price gouging because they can.
And who regulates that?
They are in it together. We have an illusion of a democracy.
It’s a big club, and you ain’t in it - neither am I.
transfer of wealth.
Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.
Theadore Roosevelt woulda stoped that
Exactly so. And the totally inept executives still only stay afloat because how many of them are monopolies. These jerks couldn't run a fair and competitive company to save their lives but of course the workers would take the blame
@@elisegeum1514 Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.
"38 Republican Senators wrote a letter telling her to back off" - there it is, the most important line of this entire video full of important lines.
@@jonm9361 "investigate the thing fairly" by removing references to climate change - which is what this video was all about, right?
@@jonm9361Why do you defend oligarchs? Such bootlicking.
@@jamesrisse2173 Sounds like someone (you) supports electric cars, there by supporting slavery to mine cobalt and lithium for said electric vehicles. Which run off a grid powered mostly by what? Liberals commit atrocities to the planet just like anyone else.
@@jonm9361 The senators in the letter clearly are in strong favor of the merger, try to blame the Biden administration for high prices and make claims like "costs to consumers will fall" after the merger. They try to disguise it in language of investigate it fairly. I do agree that the video misrepresents it somewhat, but it's easy to see that they really don't want it investigated in my opinion.
So Democrats ARE NOT taking oil industry donations??!!! Is THAT what you are saying?
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
This is happening in many different industries these days. Corporate greed is out of control.
Fact
And one candidate for president wants to give additional corporate giveaways so he can continue to get more campaign money. Time for a tax hike on corporations and a decrease on the little guy.
@@grayman618 fact
@@grayman618one thing I find very fascinating is that over the years, around 1960-1970ish corporations used to pay up to 90% in taxes. It’s been slashed down to about 35% these days, and trump wants to lower it even further. With the tax code filled with even more loopholes, how are we supposed to manage govt spending?
They pay less in taxes and then rape us at the pump.
If they get any "FINES" They will just pass that cost on to the consumer's!! They need to go straight to jail period!!!!!!!
The Saudis cut production by 1.5 million barrels a day recently. Why is MBS doing this. It costs them money? But someone in America is "owned" by MBS, he said it himself. His name is Trumps son in law. If tRump gets back in the White House because people are pissed about the cost of gas, look at who stands to gain from high gas prices and why they are artificially high.
You got that right, no more fines, just prison time. IMO
This is been happening for so long and all and everyone Involved has made all their money and he’s not willing to give up all that they made. It’s just the way the American corporations are about greed and making money off the American people.
Exactly
Better yet, shut them down.
I want a in on the lawsuit. Americans deserve a huge settlement!
Thanks for exposing them like that. The old system needs to change, we cannot go longer like this. Disgusting how a handful of people sets the rest of the world up to chaos
But the people blindly follow, and fight between themselves.
Left right blue red etc etc etc
It’s like the International Monetary Fund - a select few control prices in the US and the world so THEY benefit from the hard work of others and not the ones who actually do the hard labor. These “executives “ with millions of bonuses do nothing maybe shuffle a stack of papers once a day and spend the rest at the golf course.
Greed destroys everything.
You spelled crony capitalism wrong
@@martinmckay2889 Heh. Well, what drives crony capitalism?
@@Craxin01 yep
Corporate greed will drag the average citizen down, time for boycotting greedy corporations.
Amen 100%
thats what ive been saying all along
Makes my stomach turn. The rich just keep getting richer. Corporate greed at its finest. Wouldn’t it be nice to see middle America get ahead.
Did you know that state and federal taxes add about 50 cents per gallon of gas, while the oil companies make about 30 cents per gallon? In other words, the government makes more off of you than the oil company does and the government doesn't spend a penny to drill for the oil, transport the oil, refine the oil, and ship it it to distribution facilities.
That tax money goes for the roads you drive on. The 50 cent tax and the thirty cents the oil company makes doesn't add up to three four or five dollars at the pump does it. It's called price gouging..
Don’t ever get rid this beneficial lady . She is for our people of America. We need her badly in our government !!!
Trump will.
It’s a shame that mainstream media will not tell this truth.
Should really call it by its true name, corporate media, and they won't because all of their CEOs are Trump donors.
They won't tell the truth because they are bought
@RedneckandPinay Republicans have done this to us not the left. Learn who is doing what before you post
They own them😮
It’s corporate media and they are talking heads for their corporations
And we're still subsidizing the oil industry... Absolute insanity
How are we subsidizing oil companies. I sure would be like to know. It’s sure not the depletion allowance. I have mineral ownership and paid money for them on my farm it’s depreciation just like any other business.
From a recent Forbes article - this is the recent Biden subsidy plan for the oil industry, which the Republicans criticize as not enough. Republican administrations tend to increase these amounts.
"In the U.S., the fossil fuel industry collected $757 billion of incentives in 2023, from preferential oil and gas lease and royalty rates, specialty tax preferences, research and development aid, loan guarantees, and tax incentives..."
💯%!!!!
@@arnoldjohnson3317 Historically, subsidies granted to the fossil fuel industry were designed to lower the cost of fossil fuel production and incentivize new domestic energy sources. Today, U.S. taxpayer dollars continue to fund many fossil fuel subsidies that are outdated, but remain embedded within the tax code.
We also subsidize beef while they routinely destroy water, pollute enmasse, and brainwash people into overeating beef until they have a heart attack. We subsidize everything that's bad for us. There are hundreds of lawsuits right now against beef/dairy operations for destroying groundwater, drinking water, waterways, reservoirs/lakes, etc, just in the US alone.
Put them all in jail.
Straight to jail
They own the jail too 😔
I rather other punishments
Let's start with the senators that wrote the letters and work our way out from there!
I stopped buying it 5 years ago when I bought an EV. So far, I’ve saved $12,000 in fuel costs. Join the revolution!
Was it a Tesla? If it's a Tesla I literally won't be able to get one due to how expensive they are
Khan is the best FTC Chair I have ever seen. The things she is doing are finally in interest of consumers something I never thought would happen.
Corporate corruption is a real danger in the United States!
It's out of control greed has taken over buy big corporations not president fault
So are the Biden energy policies.
the real corruption is the gov't passing laws and stopping oil production, mandating electric vehicles
Indeed it is. All the regulations that were put in place in the 90s to stop monopolies, promote competition, and keep prices down have been steadily wiped away by the federal government starting in 2000. Now the Oil industry, the food packaging companies, and our financial institutions have consolidated under just a few companies and lending institutions to dictate prices and control supply. They are steadily letting their greed drive our population into poverty. The fact that 38 republican senators signed this letter to get the FTC to back off their investigation is very telling.
False, government corruption is the real danger. They make all the rules, want to have all the guns and control all the money! That’s why nationalized socialism and Marxism is so dangerous! We can manage with corrupt individuals easier than corrupt government!
Lina Khan is probably the greatest advocate for consumers in the country right now. Brace yourself for a bunch of random internet bots coming in to bash her for going after their bosses.
High crude prices are good for both the environment and the natural gas market. Also, beep beep boop bot beep bop beep
😂Unions make things cost more. Stop being soo stupid
Almost every time we hear good news Lina Khan is mentioned.
@@0my high crude oil does not benefit the environment. The demand curve for oil is largely inelastic and is not impacted by price fixing. So falsely inflating the price of oil just means more money going into the oil industry which means more money for lobbying, propaganda and disinformation.
@@youruniquehandle2 good point. I forgot about the inelastic part. Any environmental benefit wouldn't materialize for decades.
This should be a major news story in every outlet, but it isn't.
Why not?
They are the same people that own the media too. And big pharma, and the food industry, and the insurance companies, and the military industrial complex, and the telecommunications industry, and the bankers etc etc.
they are all linked.
They own everything. Including your so called democracy
They are also paid to cover( up) stories.
It’s Trumps buddies and they run the media to soooooo
They are in on it! Get a clue! Ratings me profits are the news that matters to them. Haven't you paid attention to the crooked Murdochs?
Every major net work has been compromised by the thirst for money. Greed is the capitalist way.
I'm glad this video was put out, now we can stop blaming presidents for high gas prices because they have no control on gas prices it's all GREED.
Scumbags
Corporate greed must be slapped down and price gouging stopped!
POOR PEOPLE DROOL RICH PEOPLE RULE !
It's because the of Biden regulations and policies, oil companies have to pay a higher price to drill and refine because of the new Green Deal regulations. That extra money ain't coming out of their profits so they pass it on to us the consumer.
@@craftman5632 POOR PEOPLE DROOL RICH PEOPLE RULE ! Biden regulations and policies have nothing to do with this video.... FOOL!🤣🤣🤣🤣🤣🤣🤣
@@craftman5632 No new green deal has ever passed. Stop listening to the liars. Did you even watch this video? Are you unable to accept facts or what?
Wow are you that blind to believe what lies trump and republicans tell you, there was no new green deal republicans did not allow it. @craftman5632
Just remember when businesses or corporations call for fewer regulations or oversight it means they want to improve their profit margin.
Many years ago I worked for a CEO of an oil company. This was during the oil shortage in the 70s . I saw paperwork on his desk that showed at what price the shortage would end . As soon as it hit that price there was plenty of oil available.
And?????
@@RobertCHoweSr They're saying that there was no shortage.
REPEALING CITIZENS UNITED would help a lot ,getting the government to do something else !!!
LOL but first you have to get the corrupt judges out that brought that about. Kind of a big catch 22.
This isn't limited to gas prices. Every major industry with different companies now collude to increase prices at the same time. And I mean every... single...one.
Added to shrinkflation and just pure monopolistic subsidiarys and its about time for a 2A movement
Conspire... and they all use McKinsey and their software to do so.
We should elect a president who has experience in keeping prices reasonable.
@@personnesenki4521 uh... and one that doesn't accept corporate donations. Who is that again?
@@jamesrisse2173 They all do.
Their profits TRIPLED in 2021. Profits rose steadily, then in the last quarter of 2022 they reported that their profits had DOUBLED. Yeah. That’s price gouging
What is your source? Who are you talking about? Some selective use of years and possibly statistics here. In order to get some idea of what has really gone on for the last few years, I looked up earnings per share (EPS) for EXXON Mobile. I just picked them because they are a big U.S. corporation. Here is what I got from macrotrends (the first site that popped up on my search) on the internet: 2020 to 2021 EPS DECLINED by 202.67%; 2021 to 2022 EPS INCREASED 146.01%; 2022 to 2023 EPS DECLINED 32.96% ; for the 12 months ending June 30 2024 EPS DECLINED 33.12% year over year. The fact is the oil industry has always been boom or bust. During boom years everyone hollers price gouging. During bust years, only stock holders, families of oil company production employees and oil company creditors seem to notice.
That's what happens when you get rid of a good president that had everything under control and gave us record low gas and oil prices but more importantly complete energy independence from every other nation in the world for the first time in our lives which resulted in obviously increase National Security low inflation and a booming economy period only a hateful ignorant person would be against this and what to vote for somebody who changed it on his first day in office like Joe Biden did.
stop playing sports team and personality politics, instead vote for experience and results
did not have this problem until Biden took Over
@@LIndaZak-wg7xe yes all due to radical extreme politicians war on oil.
State taxes go up also money Maker/ States are not complaining about the price/ And not looking into it either.😊
The FTC is going after companies for price fixing? Can't wait for some judge to rule that large companies are allowed to fix prices as a matter of protected speech.
Approaching the tipping point at high speed!
The current SCOTUS would very likely vote that way in a 6-3 split 😡
Not only that, but it is the basis of capitalism. A vendor can charge what they feel is a reasonable price. Customer grievances go to FTC. Executive branch has to use Executive Orders to activate its checks and balances on the issue. Government price fixing is socialist, according to capitalists everywhere who begrudge being required to clean up their own messes or provide health benefits to its employees who have endured harm in doing their job, while unaware of side effects of these jobs. Until it's too late. And then they are thrown under the bus.
It's American business models such as these, and wholesale bribery that generate so much animosity against America. It's NOT you and I, it's the businessmen they hate so much.
@@ronaldviens7862it’s all so stupid when you look at it. They’ve whined and complained and swindled their way into more rights than anybody.
@@ronaldviens7862
Capitalism implies there is competition, but our government has allowed these companies to become monopolies. Theodore Roosevelt is spinning in his grave.
Government taxes make up a big part of the price too
38 Republicans senators.
This is the type of stuff that makes it difficult to be patriotic. This level of corruption is just ridiculous.
Uhhh, wut? Democrats are just as bad
😂 plenty of democrats to. But unions are experts at propaganda so they obviously got you good.
And its in litteraly every single market at an average market saturation of 80%+ its all seals ALL THE WAY DOWN
Your bias is blinding, but I can't say why because this channel deletes comments
@user-iy1vo2jf2q The video
It's amazing...they are making billions and they still want more...it's truly a sickness.🤨
The state and the us government make more off of a gallon of gas than the oil companies do. State taxes average about 32 cents per gallon, and the US adds 18.3 cents per gallon for a total of about 50 cents, while oil companies make about 30 cents per gallon.
WHEN SOMEONE CAN REALIZE THAT PROPAGANDA IS A NAFARIOSLY CREATED AGENDA !! TRUTH MATTERS !!?? WAIT UNTIL IRAN CLOSES THE STRAITS OF HORMUZ !!! BRIC!!! #2 PIPE LINE ?? GERMANY ?? STOP THE USE OF THE AMERICAN DOLLAR AS A WEAPON!!!
When they have triple the profits does your little scenario actually hold true?
@@Smedley1947 🎯....The pump is not the only place oil and gas companies profit, it's just their fastest form of increasing daily revenue by the minute if not seconds...Petroleum products are in almost everything...🤨
@@shenmisheshou7002 and the government spends their money on infrastructure and other energy sources to protect our environment like they're drinking water and the area you breathe not stuffing their pockets like big corporations.
It's happening in plain sight...ridiculous
In China they jail people for corruption... while here we say you can't join the board for a while lol
Exactly. And our tax dollars still go to these thieves. The Congress WE ELECT is for SALE.
And “We THE PEOPLE” aren’t doing anything about it…..
Unions playing you like a bitch? They just got a 12% increase in pay for 30,000 workers. And yes Unions get a cut. So enjoy they higher prices Unions have ever in world history made things cost less. And when they spend workers paychecks for dumbass videos like this it's because they want more money. From you
Everyone here seems shocked that a CEO’s 1st allegiance is to his shareholders. Weird. “I pledge allegiance to my shareholders for I know they’ll fire me if I put anything before them, country included.” That’s not a knock on CEOs, it’s just their job description.
When Trump was president Gas was $2.30. If The Dems get back in office we will have $9.00
And you would blame the democrats...did you not watch the video
Now I understand why they want to get rid of Lina Kahn, she’s actually doing a great job.
yup
Yes; that's because they want to deregulate more and she would hold them accountable.
Project 2025 is nothing but a plan to turn the country over to corporations. Now you understand why they need to fire all of the bureaucrats who know what they're doing to replace them with Toadies from the many Industries who are loyal to Donald Trump. This is just like communism with everything being handed to the party of the rich.
For the life of me, I don't understand why the US government keeps subsidizing the oil companies to the tune of billions of dollars.
Because it makes them rich too, it is really quite simple. Watch them jack up prices before the election. The outrage will be directed at the left instead of the greedy corporations.
Because big oil throws money at political stooges in the form of bribes...er I mean "political donations"
pass a few bills in oils favor, block others that could hurt their profits and then the congress critter finds a nice bonus to their re-election fund.
We the taxpayers subsidize the oil industry to the tune of $20 billion dollars each year in the USA
All human activity is financed thru the same International Central Banking System that commands our DoS DoD and CIA as their muscle since 1945.
US politicians are recruited puppets with no real control over any part of this treasure harvestation.
Politics are the entertainment division of the Military Industrial Congressional Complex that Eisenhower warned us about in his farewell speech in 1961...go RUclips that speech.
@40CaliberMr
Really you can't understand? Just ask yourself how does bribing officials in Congress figure into the equation. There you go, it's because Congress has bought off by the petroleum industry. See that wasn't so hard. Now you know. And when Trump is re-elected he is going to turn loose every facet of the business world by doing away with all their regulations so they will be free to do any God damn thing they want in the way of pollution; screwing up your air water and food. For money. It's that simple. This is not a complicated thing.
Im pissed at those Republicans who tried to block this FTC action.
Outraged? You bet. Surprised? Nope.
Not surprised at all. These prices are part of their reelection platforms. Republicans want this and I’d be surprised if they are not only blocking the FTC but also have a deal with these companies.
As if there’s any difference between Democrats and Republicans anymore.
They're all accessories before, during and after the fact.
Investors.
Don't forget the same "reeee! all Biden's fault!" brigade that will happily vote those Repukes back into office.
I worked for an Oil Company for 10 years and done of this surprises me. But when I tell people what I know, they tell me I don't know what I'm talking about.
It seems to me that greed is a mental illness and we need to call it out as such.
This is the same problem with all products. Eliminating the competition by becoming the competition squeezing every last dime out of those that need your product to survive.
Of course it's price gouging and greed plain and simple
It’s all corporate greedynomics.
Your level of entitlement is plain and simple.
@@maximemeis2867 so is your level of stupidity
Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.
@@maximemeis2867 Come back with an actual argument or facts, plain and simple
and people believe if we drill more prices will come down. We are already producing a record high amount as of last year and it's still high. It's called price fixing but if you listen to the msm price fixing isn't happening, of course they are owned by billionares that do price fixing.
We need a new anti trust act and the will to enforce it.
You didn't know this already? Yeahhh this is happening in literally every sector of the economy
The government should sue them for price gouging
Oh the corrupt government that has trillions it CANNOT account for? The government that has given billions to Ukraine. The government that is giving Billions to illegal immigrants while Americans struggle. Your being conned but hey Venezuela has an excellent socialist model or how about Cuba, or Honduras. Oh wait they all fighting to come HERE.
The government is in on it
Americans should sue them! They could pay every single American a BILLION dollars and still have hundreds of billions!
@@luislora5796 You don't think the US government is just as corrupt
Are there laws against that? If not, they can't sue
This should be talked about more and brought to light.
Thank you and keep bringing the truth!!
We need to find a way to go after these oil companies!
Remember the phrase
Too big to fail
Yes.
Oligarchs & monopolies
And then remember how much YOU as an individual received during the great recession even though you pay taxes, too.
And then let's look at how much those forgiven PPP loans were compared to the pennies everyone else received.
I laugh when trump says "drill baby drill" & his followers start screaming thinking more drilling willl give them lower gas prices. The truth is with directional drilling, rigs can set up on one location & drill multiple holes. When oil prices exceeded $100.00 a barrel (and could have provided cheaper gas at the pumps), those energy producers capped the holes they drilled.They kept that oil & gas that the US needed from ever being produced. And they continue to do it today. The drilling has already took place but the oil & gas sits in the ground because producers want high gas prices & high profits. Common sense tells you that you can't produce oil & gas if you don't put production equipment on the location & pipe that energy into pipelines where it become gasoline & natural gas for our homes. The "drill baby drill" is just an act. It's a game that many republican energy producers are playing to fleece America.
It's part of gougeflation.
We are being gouged.
No shit... have you seen taco bell recently? Lol
An .89 chkn burrito now costs
$8.99 10x increase....
@WALLYDRAG502
Trickle down fuel costs.
The gouging of fuel costs are hurting all of us.
The big oil companies just got caught colluding to keep prices high because they are greedy and they are trying to keep the shareholders and investors happy.
Big oil is screwing us.
It’s called a transfer of wealth.
A lot of things in our country should be regulated, all these corporations are at an all time greed high! The working men & women are paying for their extreme luxuries!!
And how are those countries who regulate the hell out of everything doing?
It's not just the oil industry, all industries are keeping prices high and blaming inflation damn well knowing they're doing it.
Because the narrative has been successfully changed to blame Biden and it’s working for people who don’t do research
Look up the egg 🥚🥚🥚 price-fixing scandal!!!
It appears nearly every business is going all in on corruption!!!
🫣🫣🫣
...and each time someone blames the president, they are doing their work for them for free.
Record profits.
Transfer of wealth.
Allowed to happen by your representatives, who also gain from these prices. They do not work or speak for you.
Your democracy is an illusion.
And you don't think government policies and excess spending have anything to do with it?
In addition to manipulating crude oil cost they also scammed us another way. When the gas prices shot up after COVID I did some rough figuring. The gas companies were blaming pump prices on the cost per barrel price. But when I used the lower cost per barrel numbers to estimate their cost to refine and distribute, the pump prices went up unreasonably. Just because crude oil cost per barrel increases 20%, that should not equal a 20% increase per gallon at the pump. The refining and delivery cost should have no reason to go up proportional to the increase in crude cost. But that's what they were doing. Using the increase in crude prices to gouge us at the pump. Politicians promised to hold hearings. I sent a copy of my calculations to my Congressional representatives but never heard back or anything more about the matter.
This is called "greed"
This is called a transfer of wealth, and a collapse of our civilization and environment.
This is called capitalism on steroids. Out of control capitalism.
There’s 346million people in the USA of that there’s 131million households. Adding 200b$ in cost to gas cost each household at least 1500$ extra a year. These criminals need to be put in prison. And when I say criminals I mean the ceos and the politicians. When is enough enough
When their pockets are full, and the people are fighting each other.
I hear you!
They let them get away with it look at trump getting away with everything bankruptcy, insurrection,felonies, dont pay taxes etc... what a joke,people getting possed off
What's sad is that a lot of those people unhappy with gas pricing think government regulation is a bad thing.
Regulation doesn't do anything. The government is terrible at keeping things under control. They can't even control them and their spending.
@@HH-le1vi Found the corporate shill
@@HH-le1vi To get into deep discussion about this would be beyond my knowledge on the subject. But,on the surface,it’s easy to see that too much DE-REGULATION can attribute to contaminated water,soil and air. Not to mention horrible accidents,such as the train derailment in E. Palestine,Ohio. Yes,it would be great to enforce penalties to where they actually carry some weight. But,better to have SOME regulation than none,though.
@@wasd____ found the person who doesn't understand what a shit bag the government is at anything.
They actually think regulation is the CAUSE. That's what they're told.
Refineries Should be owned by American
Good job MPU. Telling the story that nobody else dares to tell.
END ALL FOSSIL FUEL SUBSIDIES! NOW!
END POLLUTERS NGO FRAUD
That would increase the cost of electricity.
@@francismarion6400 for a time yes. and only if you don't subsidise other sources of energy. but a step-wise reduction of subsidies for fossil fuel would immediately create an enormous pressure on the energy market to find other forms to generate revenue and open up possibilities for renewables to emerge.
@@francismarion6400 take those subsidies and use them to subsidize electricity for families and small businesses, any leftover can go to renewable expansion and efficiency or maintenance.
@@TheRealSykx Just remove the taxes from fuel. That would help families and small businesses immediately.
Thanks. I have been trying to explain this to people for years.
Wrong. I don't care what the FTC says. I trust CEO's more than govt...govt prices would be worse. Biden didn't help cutting off that Canadian pipeline.
America needs a class action lawsuit to recoup some of our money!!!!!! I'm certain all Americans know and have known that gas prices are fixed.
The lawyers get all of the money so what's the use putting more money in the crooks pockets.
Yes, it’s well known that the prices of gas is fixed; the problem is that a non-trivial amount of people believe that the price fixing is purely done by the government, even when confronted with unimpeachable evidence to the contrary.
If we sue the gas companies, they'll just raise gas prices to pay the lawsuit...
@@davidbrakefield188 that's not entirely true. Citizens can lobby the US government or the US government Can voluntarily choose to sue on behalf of the American people greatly increasing the portion of the settlement that goes to US citizens.
All that said the government has a poor record of settling for a much smaller amount of money than what a for-profit law firm would have received.
Regardless of which someone else is going to benefit too much is not a reason to not do a thing that needs to be done.
@@runed0s86 again that's not really true. If the US government sues on behalf of the American people part of the settlement will include fuel companies not increasing prices to pay for the settlement of their collusion to increase prices.
Same thing happened after Hurricane Katrina; record prices, record profits
Canadian here. I didn't even have to watch the whole thing to know that this is true. the oil companies ALWAYS have an excuse to raise the price but can't seem to find a reason to lower it.
Prices go up AND down daily
@@mitchelpinion1852 if you're referring to oil, yes I am aware of that. the price of gas, however (where I live) goes up and stays there for a while, then at some point it goes up again and stays there. very rarely will it come down. one trick the oil companies use is to say that the oil in the system has to make it's way down stream until the next price reset. I should have clarified my reference to raising the price of gas, as opposed to oil.
@@kevinducharme1263 Gasoline prices go up and down all the time. The long term trend is up, just like everything else. Inflation is a government policy, not an oil company policy. Of course oil companies want to make all the money they can, that's called free enterprise. I am 76, and, proportional to other prices, gasoline doesn't seem any more expensive to me than it was when I was 20. The best protection against too high of prices is to prevent monopolies, reduce demand and increase supply. Things like price controls are proven to reduce supply and cause shortages. Of course there is one big semi-monopolistic player in oil - OPEC. Our government has no control over them and no real control over the international price of oil OR gasoline. With the introduction of fracking and increased U.S. production (which the Democratic party has done its best to resist), the power of OPEC has been significantly reduced. The government can, and should prevent domestic monopolies and price fixing. The executive branch just needs to do it's job in that area. But biggest determination of prices is international supply and demand.
The conspiracy theory is that Musk supports Trump because Trump wants to make sure these CEOs keep doing what they are doing. That means EV will become even more interesting for the American public. Now that Musk can cut FTC’s resources, one can only imagine these merges coming back to the table.
The problem with Capitalism is it's all about Capital and nothing else
i think we're in the late stages of capitalism, where it no longer serves us (if it ever did), we serve it
The obsession to hoard more and more assets is a mental health condition that capitalism rewards, at the expense of those hoarded from. Get clear around this phemomenon and make different choices, or shut up and bend over, and don't whimper.
that's the ism
Thats not even a controversial statement anymore.
The W.T.O., the fricken international union of capitalists; agrees.
I mean, they want the capitalism to continue, but the metrics to change. In some mysterious manner that will likely make less sense. But they agree.
And when they agree capitalism has became too much about capital; then its just embarrasing and backwards to disagree.
My favorite part is when everyone starts whining to the gov to do something about it, when all they can do is just manipulate the market with their own stash of crude, or try to suck up to the Saudis. And then when gas goes down they start buying big ass trucks again.
Imagine my complete lack of surprise.
The other part they forgot to add to this was taxes. We pay so much in taxes at the pump.
I trust both Biden and Harris to hold corporations accountable. Illegal activities gouging the American people deserves not just fines, but jail time!
Of course it was Republican legislators working with the oil companies.
The blues take oil money too. They are both corrupt.
It’s a show they perform. Your democracy is an illusion. They are bought and paid for.
All the dummies want the ceo in office to give them more breaks pathetic
So what now? This is ridiculous. People need to revolt.
Buy a bicycle and grow your own food.
Take care of your family and friends.
Car pooling? Less cars used less gas used
The fact that they report incredible profits, tells us it's price gauging. The fact that it's going on tells us government is allowing it to happen.
The democrats put a price gouging bill on the floor of the house. No republicans would vote for it because they are paid by these corporations.
Oil has been corrupt since the beginning. We need to help Venezuela move towards freedom and 3-Dengage as a oil provider. At the same time we need to push electric vehicle prices down, get them made in the US, and build electrical infrastructure. Break the OPEC corruption scheme.
The world needs more people like FTC commissioner Lina Khan in my opinion
The FTC needs more people like her. And the IRS. And the DOJ. And Congress. Shit,we just need more people like her in Washington,period.
Project 2025 would make all civil servants political appointees instead of industry experts. Imagine FTC, EPA, FCC,FBI, IRS, DOJ….
All political appointees
POOR PEOPLE DROOL RICH PEOPLE RULE !
It will also violate the establishment clause of the first amendment. But who cares right? Because Jesus.
“The horrors! The horrors.” (From the movie, “Apocalypse Now”)
Aren't all the alphabet salavering to just put forth the truth back now and forever Tobe. Politcal opoints
Have you ever voted for any of these positons.
Shocker. A deceptive corporation.
The union. 30,000 oil workers are Unions. Enjoy
Yup. Rich gotta rich. Poor gotta serve, suffer, and SUBMIT. 💪😎✌️
Key Takeaway, 37 or 38 governors yes, governors pushback on the FTC. I equal that to racketeering. Governments or governors in cahoots with the oil production industry. And what bothers me worse is that 80% of Americans do not understand the implication.
My question is what can we the people do? It's so easy to be helpless and complain, but what can we do as the workers of the world to make change?
That’s the question.
I’ve been watching this for decades.
Prices go down around thanks giving then go up right after new years so that people have more money to spend on gifts and travel. School ends, prices drop (a tiny bit) so may people travel. Same investors in hotels and resorts, also invested in oil.
Most of us don’t even know we’re being played.
And I guess knowing vs not knowing makes me at least feel sane!! 😅
This specific monopoly can only do what it does because of people's reliance on cars. So a simple solution is to fight for less reliance on cars. You can go to your local city commission meetings and fight for less car-centric infrastructure. Odds are there are many roads/areas in your city that the planning department is looking at repairing/improving. Pushing for road diets where needed is crucial. I don't believe there is any other way that isn't full blown barbaric riots.
@@Kai-zm3ix vote blue. Get maga out of the United States.
Get an electric car!!!
Getting an electric car is not the answer. They cost to much. Nobody can afford to get a charger instslled in their home. And if you have more then one car , you have to have more then one charget. It cost more and takes more resources to make electric cars. Thats not an option at all. But good public trasportation is. Trains are another good idea. Other countrys have trains and it works out well for them. Im tired of listening to this same old arguement, but as long as there are billionaires that refuse to help the average person we will never ever get anything that will help us.
They make cars that suck down fuel on purpose and every old over the hill in a midlife crisis man has to have a huge gas guzzling truck to drive to the damn store.
So nothing will ever change for the better in this country. The billionaires who run this country won't let that happen.
They also buy up all the drilling leases than set on them, keeping anyone else from drilling and putting the crude on the market. All to keep prices high.
@@topperman4541 yes Then people like to blame the president saying he stoped the drilling but it was the oil and gas people doing the stoping
nice lie
It should be illegal to speculate commodities, but no one ever talks about that
@8:20 - "But a back of the envelope calculation suggests the cost Pioneer's collusion alone was about $200 billion a year in higher prices. That's thousands of dollars a year for every American family." Hmm, $200P9 / 130P6 families => $1,538 per year per family, not thousands..
MPU needs a new envelope.
Pioneer Nat Resources 2023 revenue totaled $19.3 billion.
Pioneer Nat Resources oil 2023 production totaled 136 million barrels
Permian Basin total 2023 production totaled 1.92 billion barrels.
USA crude oil total consumption, 2023- 6.94 billion bbls. If the premise of this video is correct, then PXD was able to increase the average price of crude oil by approx $29/ bbl in 2023. The average crude oil price in the USA in 2023 was about $82.50/ bbl. Take away that supposed $29 increase from collusion and PXD would have been selling crude for $53.50/ bbl, likely below its cost of production.
Why didn't the crude oil price stay at $100 or $90/ bbl if Pioneer and OPEC had such control over pricing?
@4:55 Oil prices rose dramatically in 2022, yet oil companies did not haul ass to drill, drill, drill. Uh, after having little return on their investments for the prior 5 years, the number of active oil rigs fell and oil field workers had to find other jobs and many did not return. Also, the West Texas oil pipelines are pretty much at capacity and no one wants a new pipeline buried in their backyard. Another boom and bust cycle. And how long did the $100+/ bbl oil last? Also, a number of gas and diesel refiners shut down and never started back up.
If Pioneer and other Permian Basin producers are limiting production to increase the price of crude, why are the West Texas oil pipelines at their maximum capacity?
==> Even if Pioneer had colluded with OPEC, the assertion that this cost consumers $200 billion per year in higher prices is ludicrous.
**********************
Another: Permian Basin, otherwise known as PeB. I have worked in West Texas/ Permian Basin and never heard it referred to PeB other than on some maps.
If oil companies are making so much money, are you buying shares in them? If you had bought BP stock in 1990, you would have gained -0.5%/yr; Shell, 3.9%/yr, Exxon Mobil, 6.4%/yr + dividends; Pioneer Nat Resources, 7.7%/yr. (So much for the huge profits claimed in this video.) The S&P 500 Index gained 7.1%/yr over the last 27 yrs.
Biden and Harris do not want to sell leases in the most lucrative areas of the Gulf and want to severely limit oil leases on Federal land. Harris is against fracking, (even if it follows environmental safeguards?). Will that lower fuel prices? Will that provide good paying jobs? Will that help the USA balance of trade? Will that help USA security? If an Administration wants to force movement away from fossil fuels, it should raise the price through taxation, not by limiting production and not by making it less efficient.
They've been colluding for decades!
After record low profits in 2020, it was of zero surprise whatsoever when prices skyrocketed as soon as the pandemic was over, for whatever reason was convenient. None of these companies ever had any intention of just writing off those losses, not when they had the power to recoup them at our expense.
If you think it’s bad in the USA, be very happy you don’t live in Europe! It’s 9 dollars a gallon in the UK when I went over there this year and rented a car. I was shocked! 3.50 didn’t seem so bad after that experience lol. I do however think these big corporations should not price gouge no matter what it is based on… food, gas, electricity, etc…
Thank you for exposing those white-collar criminals
Nationalize the oil industry. Seems to be working well for Norway.
WATER FIRST
If I knew for sure that the oil supply had gone post-scarcity, I'd fully agree.
@@dominicfucinari1942 We are the largest EXPORTER of refined products in the world. Those products are made from OUR oil.
Gas prices in Norway are always sufficiently greater than in USA.
Ya, super tight immigration there too.
*You know what happens when these greedy corporations raise the prices of gas for extreme profit? They raise the cost of literally EVERY OTHER PRODUCT AND GOOD. Everyone is so quick to blame one party over another for these prices…when it’s really the heirarchy of oil tycoons causing all of us harm.🤦🏼♂️*
You are partially correct ... However unless you have a plan to make people not be greedy we need govt watch dogs like Lena Khan ... When Republicans get in and worse if Trump gets in she will be out of a job ... Because the plan is to close or neuter consumer protection departments.
Thank you for making this video. I wish the whole world would watch this.
The sugar industry is under investigation now for price-fixing. It's the same thing. The biggest companies colluding to make sure retail prices keep rising, regardless of what the "market" says.
Government needs to take control over our oil companies for the safety of American economy
Have you looked at a gas pump while you use it? You pay more in taxes than you do for the gas the government ain't doing shit for you
Watch groups and means to investigate corruption, other crimes, and hold them accountable, YES. Full control, NO, as that is non-democratic.
The government needs to stay out of our lives and stay the hell out of others countries
@@kensweetser6901 Seriously! These people are begging to be controlled it's nuts
People seem to forget gas was 7 dollars a gallon here in california back in 06. People always think whatever political party is in office controls gas and that's so not true. But it is amazing that whenever someone new is voted into office gas prices go down for a few months almost every single time.hmmmm
and the Price of Gas was Cheap when Trump was in office
Well these gas stations haven’t got a cent from me in over ten years. Switched to a 100% EV and haven’t paid any attention to gas prices since. ⛽️👎🏼🚫
Me too.
Watch,next the electricity will go up because too many people own electric cars so they'll jack up that next
@@benhernandez8738 well, I also don’t pay a cent to charge our Tesla as it’s grandfathered in to Supercharging for free for life. The other three EV’s out family drives charge off of the solar and battery back up. And I still turn the meter backwards. I’ve got a $101 credit in this months pay cycle as I’m typing this right now. And every other year, I have my utility send me a check to cash out the excess energy generated. So effectively, it doesn’t cost anything to power the other three EV’s either. Yes, the solar panels and batteries had an upfront cost, but they’ve already returned more than half of my investment in what I don’t pay in electric & gas bills, with a full ROI estimated to be reached in just 9 more years, due to the 1:1 net metering agreement we are grandfathered into for the next 24 years.
As a result of generating my own fuel in excess, I’ve also switched all of my appliances from gas to electric, so I don’t have a natural gas bill either.
And if the utility companies raise the price of a kWh, and it’s likely they will, it wouldn’t affect us as we already generate more than we use and no matter what the rate is, we still receive either bill credits or we receive a check for the net excess.
If anything, the more a kWh costs, the bigger the checks we’ll receive. 💰
None of this is new. Millions of people have solar and battery back up and EV’s. Yet there are still people choose to pay natural gas bills or pay for gasoline, oil changes, etc when they don’t have to. And if you generate enough electricity and store it to offset or eliminate peak usage, you eliminate your electricity bill as well. It’s not rocket science. And if there’s an outage at the power company, my home remains powered and I can still charge my vehicles. Conversely, gas station pumps don’t work when power goes down. Plus electric powered vehicles last much longer and require far less maintenance. And you don’t have the inconvenience of having to stop at gas stations all year long. 90+% of most EV drivers charge from home, waking up to a “full tank” every day. And the average EV now costs less than the average gas vehicles. It’s a net positive from the start.
If the sun shines where you live, (and I’m guessing it does) there’s plenty of opportunity to capture the sun’s energy to power your home and vehicles. If you had all the fuel you needed to power your home and vehicles, why wouldn’t you use that fuel. Why would you buy fuel you can’t make? Month after month.. year after year? All that money just goes to big oil and foreign countries. Why not be self sufficient and in control of your energy costs?
Or to put it another way.. if you could mount something on your roof that would generate free fuel silently and cleanly that your home or vehicle could run on, you’d probably use that fuel, right? Big oil would rather you not come to this realization, and have you continue to buy and burn their fuel instead. But you pay the high cost of doing so. And they get wealthy as long as you keep doing so. They’ll lobby and misinform the public as much as they can and as long as they can to keep you from making the switch. How long to continue to transfer money into their pockets is up to you.
they'll be slapped with a fine of 1% of their gross profits and continue doing it.
Diaper Donny lowered corporate taxes from 35% to 21%, yet prices have INCREASED dramatically. Why?
Mo money
I've always said the right has there hands tried to big energy!! And this is the reason they continue to give them gigantic tax breaks, because they not only get large donations but they are big investor as well, in return they profit large amounts as shareholders of these energy companies leaving them extremely wealthy beyond comprehension and they in return also benefit with extreme tax breaks!! The real question is what are they going to do about it!! This b.s. five year removal from the board does nothing to stop this greed!! He's still tied in and can make moves at will as he has always done!! You find out the truth about big energy drilling it's own people for profit and still nothing happens... I tell you what as much as I've been against EV vehicles... Choosing an alternative vehicle might just be the only way to nip these bastard right where it hurts them the most!!!
Excess government spending and too low interest rates.
@@Wishes890 big oil is making to much money . They have the ability to lower prices but won’t. We need it so we will pay for it.
Greed and money man. Those greedy people can't just be content with their tax cuts and that money saving. They decide to go further beyond and suck the common person even more dry.
This is why ALL natural resources in a country should be nationalized for the people of the nation.
lol they'll scream socialism and make it all political.
socialism: the means of production are controlled by the people
Stupidest comment ever. So seize land owners mineral rights? Seize investors money? Or would you pay for what you are nationalizing? If so how? Borrow more money? Look at our current national debt as an illustration of government management. You think the government would do a better job of meeting customer needs than corporations? Nationalization is a ticket to gross mismanagement and corruption. Mexico's national oil company? Venezuela's oil production? Any communist country that owns or has owned all the natural resources and industry? I guess you could cite Saudi Arabia. I am sure there is no corruption there. If it weren't for private enterprise there would be no oil fields or production to nationalize, either here or in other countries where the government now controls oil production and sales.
Look at California. Are you saying that's the gas company doing it??. Let the oil industry develop normally. Market forces will decide the price. It's demand and supply. Misinformation is the root problem in USA
Just when I thought that developing countries were corrupted.