On 3/17/2022 08:44, Cousin Ricky wrote:
> On 3022-03-12 14:55 (-4), Jim Henderson wrote:
>> On Mon, 07 Mar 2022 15:42:59 -0400, Cousin Ricky wrote:
>>> Another bind is our dependence on fossil fuels. If we shut down
>>> Russia's pipelines, our fuel prices go up. Even progressives are in a
>>> bind on this one, as this would hurt the poor the hardest.
>> I don't think this is actually the case. Shutting down Russia's
>> pipelines would be effective, if the petrochemical industry would not use
>> that as an excuse to raise prices.
>> They've posted record profits in the last year. It's not the cost (or
>> availability) of oil that's causing gas prices to go up. It's corporate
> Yeah, you're right.
XOM made so much freakin money last quarter they authorized a $10B stock
buyback. You only do this when you have so much money you can't bury it
Also, people forget the futures market. The gas you're buying now was
priced and paid for a year ago.
The MAGAs also like to complain that Biden's "Green initiative" has
slaughtered domestic oil production. This is not true. Production is up
18% from May 2021 to Dec 2021.
There is a big dropoff from Jan-Jun 2020, but The Orange Grifter was
still president then.
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