Biden's America Last Program

[GURPS]

Jean-Pierre on drilling more in the US: 'We don't need to do that'​

Jean-Pierre argued that oil companies cut refinery capacity at the outset of the COVID-19 pandemic and have yet to increase that capacity back to pre-pandemic levels. Biden argues this, combined with Russia's invasion of Ukraine, is causing the increase in gas prices.

"Why not just drill more here in the U.S., though?" Doocy asked.

"Because we don't need to do that," Jean-Pierre responded. "What we need [oil companies] to do is, with the oil that's out there, we need them to refine that oil so that the capacity can go up and that prices would go down."

 

[Hijinx]

The Biden Administration went to war with the oil industry, now they want the oil industry to bail them out and yet they are still acting to destroy the industry.

The oil industry is telling them to fuk off, and they are too stupid to understand why.

 

[GURPS]

 

[GURPS]

 

[herb749]

I heard about the rebate gas cards. The latest is a federal gas tax holiday. Fed gas tax is 18 cents, but Biden said something about 80 cents. Is he going to force the states to go along .?

 

[GURPS]

When people are giving you an average 34/61 job approval on the economy, they want to hear a little more response to rapid inflation other than “make lemonade.” This is nearly a Marie Antoinette moment, with Biden basically telling Americans that he will let them drive EVs — cars that the current energy profile on the grid won’t support en masse, by the way. Rapid increases in gas prices are hammering American households now, and only became a problem when Biden became president. Just to remind everyone, this is the latest chart from EIA on gas prices, although the new record high will come out later today:

That “fundamental turn” happened in March 2021, and it hasn’t even leveled off yet.


Biden then tells reporters that “his team” will meet with oil executives to demand answers as to how they made $35 billion in the first quarter. Estimates for the entire industry put their Q1 profit margin at 11.1% — not a bad rate of return, but not even in the top twenty for profitable industries in the US. Assuming Biden’s right on the numbers, and that’s almost always a very bad assumption, the answer would be that they made it on $318 billion in revenues after paying $283 billion in costs. According to CSI Market, that puts the oil industry at #36 in terms of net profit margin — up from #59 in the previous quarter, but hardly a runaway top investment.

Biden's Incredible Transition II: "Fundamental Turn" Boogaloo

hotair.com

 

[herb749]

The media is acting giddy over the prospect of Biden having the .18 federal gas tax holiday. Its almost like they are saying, look at what he is doing for you. You should accept it and be gracious.

Then we should tell them, so I save $1.80 on 10 gallons when Mr I will end fossil fuels has cost me $18,00 .

 

[Clem72]

Exxon Mobil Corp (XOM) Stock Price & News - Google Finance

Get the latest Exxon Mobil Corp (XOM) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Tells you everything you need to know. The entire market going down, and gas companies going up. This administration has cut back access, but they obviously don't NEED the extra drilling sites and pipelines. They are price gouging and using the age old tactic of never letting a crisis go to waste.

 

[HemiHauler]

Exxon Mobil Corp (XOM) Stock Price & News - Google Finance

Get the latest Exxon Mobil Corp (XOM) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Tells you everything you need to know. The entire market going down, and gas companies going up. This administration has cut back access, but they obviously don't NEED the extra drilling sites and pipelines. They are price gouging and using the age old tactic of never letting a crisis go to waste.

Exactly right. Gas companies have stated unequivocally they are sitting on unused permits because there is no need to invest in more drilling operations since the price of oil is so high.

They aren't price gouging though, just simple supply and demand.

 

[Merlin99]

Exxon Mobil Corp (XOM) Stock Price & News - Google Finance

Get the latest Exxon Mobil Corp (XOM) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Tells you everything you need to know. The entire market going down, and gas companies going up. This administration has cut back access, but they obviously don't NEED the extra drilling sites and pipelines. They are price gouging and using the age old tactic of never letting a crisis go to waste.

I'm not sure how you're connecting the dots here. Stock prices don't equate to market costs of gasoline.

 

[SamSpade]

Exactly right. Gas companies have stated unequivocally they are sitting on unused permits because there is no need to invest in more drilling operations since the price of oil is so high.

You don't drill where there isn't any oil.

 

[phreddyp]

Exxon Mobil Corp (XOM) Stock Price & News - Google Finance

Get the latest Exxon Mobil Corp (XOM) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

www.google.com

Tells you everything you need to know. The entire market going down, and gas companies going up. This administration has cut back access, but they obviously don't NEED the extra drilling sites and pipelines. They are price gouging and using the age old tactic of never letting a crisis go to waste.

I guess you are incapable of reading a stock chart . Also challenged when doing electrical load calculations.

 

[Clem72]

I'm not sure how you're connecting the dots here. Stock prices don't equate to market costs of gasoline.

Stock prices equate (or should) to company profitability. If the company's stock is going gangbusters while the overall market trend is down, then they must have found a way to make more profit. If you are guys are insisting they aren't selling more oil, then they must be making a greater profit from what they are selling. If they are making a greater profit it's either because their costs have gone down (seems unlikely) or they have increased their margin on sales. Those are some pretty easy dots to follow. They saw an opportunity to blame cost increases on outside forces (war/labor/transportation/inflation/etc.) and are pocketing the difference.

 

[Merlin99]

Stock prices equate (or should) to company profitability. If the company's stock is going gangbusters while the overall market trend is down, then they must have found a way to make more profit. If you are guys are insisting they aren't selling more oil, then they must be making a greater profit from what they are selling. If they are making a greater profit it's either because their costs have gone down (seems unlikely) or they have increased their margin on sales. Those are some pretty easy dots to follow. They saw an opportunity to blame cost increases on outside forces (war/labor/transportation/inflation/etc.) and are pocketing the difference.

No, stock prices are a reflection of what investors think of a company. There are a lot of companies that have never turned a profit, but their stock skyrockets.

 

[Clem72]

No, stock prices are a reflection of what investors think of a company. There are a lot of companies that have never turned a profit, but their stock skyrockets.

That's less true in commodity stocks, and even LESS true in entire sectors. I linked 3 or 4 companies, but it's the entire category of oil companies up an average of 40% while the market is down 20-30% depending on the indices. That's not a bunch of investors suddenly deciding these companies were undervalued based on solid fundamentals. It was people noticing their product price has increased much faster than their costs.

 

[HemiHauler]

No, stock prices are a reflection of what investors think of a company. There are a lot of companies that have never turned a profit, but their stock skyrockets.

No, stock prices are more a reflection of how much the Fed is juicing the markets.

 

[Merlin99]

That's less true in commodity stocks, and even LESS true in entire sectors. I linked 3 or 4 companies, but it's the entire category of oil companies up an average of 40% while the market is down 20-30% depending on the indices. That's not a bunch of investors suddenly deciding these companies were undervalued based on solid fundamentals. It was people noticing their product price has increased much faster than their costs.

Investors see a still profitable market and invest in it instead of leaving their money in stocks that are losing value, so it must be price gouging?

 

[phreddyp]

That's less true in commodity stocks, and even LESS true in entire sectors. I linked 3 or 4 companies, but it's the entire category of oil companies up an average of 40% while the market is down 20-30% depending on the indices. That's not a bunch of investors suddenly deciding these companies were undervalued based on solid fundamentals. It was people noticing their product price has increased much faster than their costs.

Your lunacy amazes me !

 

[GURPS]

Democrats Explode After Supreme Court Makes It Harder To Kill Unborn Babies​

Democrats and other far-left activists erupted Friday afternoon after the U.S. Supreme Court struck down Roe v. Wade.

Rep. Alexandria Ocasio-Cortez (D-NY) led chants outside the Supreme Court, falsely claiming that the ruling from the nation’s highest court was “illegitimate” and encouraging activists to take to “the streets.”

The extreme remarks from Ocasio-Cortez come after a left-wing extremist was arrested outside the home of Supreme Court Justice Brett Kavanaugh for allegedly trying to assassinate the judge.

 

[GURPS]

The Left's Hatred for Ruth Bader Ginsburg Intensifies​

The Supreme Court handed down its opinion in the Dobbs case, and Roe v. Wade is no more. No, abortion is not banned. The original and heinous 1973 decision was overturned, and the issue is now sent back to the states. The legislative process is where this issue should be decided as abortion is not mentioned in the Constitution. Pass a law. If you want a right to an abortion, pass a law. The problem is Democrats really must bring their A-game convincing voters that baby-killing is a good thing. With this bunch, they’ll overreach. They’ll get too emotional. And they’ll come off as totally insane.

There is one woman we do need to thank. She has passed away, but her death also brought the end of Roe. The late Justice Ruth Bader Ginsburg’s refusal to retire under the Obama presidency proved to be a critical moment, though we didn’t know it at the time. It’s the reason why the Left has turned against her.

They’re not going to hardcore torch her corpse over this, but don’t be shocked if a few pieces about how this woman’s refusal to retire is at fault for this Supreme Court decision. Her death was true liberal whiplash. There was a meltdown, but then a realization that RBG screwed the Left on the abortion issue given the vacancy was going to be filled by Donald J. Trump with Amy Coney Barrett.