User Pass

Forum > General Discussion > Politics and Religion > Lol, Biden asking the oil companies to bail him out.

Page:
 

Last Online: Aug 18, 2022 13:05:41
Coyote
Link
Originally posted by Cowpoker
Administrations can sure make it difficult on industries and regulations and politics can impact global trade and global and domestic prices.


Not that I'm sticking up for anyone here but, consider, America is not the ONLY country with refineries. Nor is it the only place with major oil companies. Nor is it the only place where new, or refurbished, refineries have NOT been built.
In my lifetime, the big oil companies have received PLENTY of tax breaks and incentives, over the decades... by various CONGRESSES under various Presidents, all in an effort to get them to build NEW refineries or completely update the old ones.
Where did all those billions and billions and billions and billions and billions and billions of dollars they've made over all that time... where did it all go? Mostly into their pockets and the pockets of their major stockholders. How much went into improving their refineries? If not nothing then what was spent is so small it doesn't register as a drop in the ocean.
And the ONLY power a President has is to implore them to change... or to sign the BILLS that CONGRESS passes that makes the rules, taxes, and such that the oil companies complain about. It's CONGRESS, not the President, is who you should point fingers at if you're such a pro-'oil-companies-never-get-any-breaks' kinda guy. Me? I could care fuckin less about any oil company. They've had decades to get it right... decades to read the signs... decades to figure it out... decades to do the right things... and they've done virtually nothing but complain when they have to clean up their spills every now and then. Fuck 'em.
https://www.youtube.com/watch?v=oUeptFM6xpE
Originally posted by DigitalDaggers
wipety-wipe-wipe

Edited by Theo Wizzago on Jun 19, 2022 21:40:04
 

Last Online: Aug 18, 2022 10:48:10
Link
That's an old way of thinking. The US government is in the oil business, even now they will make 60 billion+ collecting on fuel taxes and unlike the oil industry, who took a beating during the pandemic, the government ALWAYS has that margin on $35 oil or $135 oil.

Tax incentives and breaks have little to do with the construction of refineries, I'm not aware of a congressional act passed to specifically encourage or support the construction of new refineries. The last tax incentive on oil drilling that was in the cross hairs had to do with drilling companies not abandoning oil wells before they were tapped out. Basically the government paid them to be less efficient in order to fully utilize the site they were on instead of abandoning the well when the flow slowed for a better one.

With about 5 minutes of thought, the government could pass a law/create policy where the US government bought 10-20 million barrels daily when the price drops below $60 and sell 10-20 million every day the price is over $75. Stock pile cheap oil when supply is abundant or demand decreases and sell it. You could take that money on the long sale and suspend the federal fuel tax and replace it with the profit. In theory, it creates a market when the market is low and it floods the supply when the market is high. Stability is something that everyone should want in energy markets.

Fuel prices are at historic highs but oil isn't. The oil companies and drilling companies that went bankrupt in 2020 and the lack of workers that has hit every industry hard doesn't help either. Oil companies are drilling more, almost at levels prior to the pandemic but that doesn't mean that refined fuel is immediately available. Plus oil companies are businesses, why stick their neck out chasing $100 per barrel prices only to watch that increased production cause a massive drop in prices. That's bad business and the pandemic and awful response by two administrations removed the players that would make those foolish knee jerk business decisions.
 

Online
Admin
Link
Originally posted by Cowpoker
Plus oil companies are businesses, why stick their neck out chasing $100 per barrel prices only to watch that increased production cause a massive drop in prices. That's bad business and the pandemic and awful response by two administrations removed the players that would make those foolish knee jerk business decisions.


Huh, if only there was a powerful entity that could step in to do what's best for the country when private businesses refuse to do so.
Six inches of pure deliciousness...on a stick!
 

Last Online: Aug 18, 2022 10:48:10
Link
Originally posted by Corndog
Huh, if only there was a powerful entity that could step in to do what's best for the country when private businesses refuse to do so.


Too bad there isn't.

 

Last Online: Aug 18, 2022 13:58:09
Link
We knew the shit show was coming, and this is just one of the (Obama) Biden planned fuck ups.
Be Kind. Be Humble. Work Hard.
Doctor of Psychology
 

Online
Admin
Link
Originally posted by Cowpoker
Too bad there isn't.


There used to be, wonder what happened to it.
Six inches of pure deliciousness...on a stick!
 

Last Online: Aug 18, 2022 10:48:10
Link
Liberals and tree huggers
 

Online
Admin
Link
Originally posted by Cowpoker
Liberals and tree huggers


Do tree huggers want government to do less? Or is that neoliberals and conservatives? Which of those do you think makes up a bigger portion of the voting base?
Six inches of pure deliciousness...on a stick!
 

Online
Admin
Link
The government used to fund infrastructure vital to the health of the country when it wasn't economically reasonable to expect capitalists to do it. It's almost like there was a change in politics about 50 years ago. Around the time one party decided to start race baiting and the other party decided to agree with them on all issues besides the race thing.

Instead of the government building refineries crucial to the functioning of the country, they give billions of dollars to billionaires and beg them to do the right thing.
Six inches of pure deliciousness...on a stick!
Edited by Corndog on Jun 20, 2022 08:21:55
 

Online
Admin
Link
But of course, there's no incentive for them to do the right thing. The bigger problem they create, the more money we need to give them and the harder we have to beg them to fix the problem.

We get the worst of both worlds, we still have to pay money to support the industry, and the private industry is still making money off us. At least the oil barons are getting richer, so that should help us all sleep tonight.
Six inches of pure deliciousness...on a stick!
Edited by Corndog on Jun 20, 2022 08:29:45
 

Last Online: Aug 18, 2022 13:42:55
Link
I caught Biden personally changing the gas prices at my local pump. Chevron was irate that the prices went up and now they have record profits and dont know what to do with them. Thanks Biden.
Originally posted by Mods
Sorry, your posting privileges have been revoked.

Fine. Be consistent with violations.
 

Last Online: Aug 18, 2022 13:17:13
Link
Im sure you guys would be sticking up for Trump just the same if it even reached $4 during his time.
 

Last Online: Aug 18, 2022 13:58:09
Link
That mean tweet though….
Be Kind. Be Humble. Work Hard.
Doctor of Psychology
 

Last Online: Jul 4, 2022 18:37:10
Link
Originally posted by Hammer31
Im sure you guys would be sticking up for Trump just the same if it even reached $4 during his time.


you have to understand that the president doesn't really have the power to control these things. it's insane to blame one man.

but it's great that trump lost because he was the cause of every problem in human history. as you can see, because everything is much better now.

i mean... okay, demonstrably worse, but at least we can watch men beat women at sports.
 

Last Online: Aug 18, 2022 10:48:10
Link
Originally posted by Corndog
The government used to fund infrastructure vital to the health of the country when it wasn't economically reasonable to expect capitalists to do it. It's almost like there was a change in politics about 50 years ago. Around the time one party decided to start race baiting and the other party decided to agree with them on all issues besides the race thing.

Instead of the government building refineries crucial to the functioning of the country, they give billions of dollars to billionaires and beg them to do the right thing.


Private is fully capable of building refineries and pipelines if government gets out of the way. In fact, a cooperative government can attract outside investment.

See Venezuela if your curious about what happens when you shut off private investment and allow government to control the energy industry in your country.

Page:

Post Reply

You are not logged in. Please login if you want to post a reply.