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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (255515)	10/27/2022 10:59:08 PM
From: neolib	2 Recommendations Recommended By bentway Wharf Rat Read Replies (3) \| Respond to of 359689

Gas prices are entirely due to Putin and OPEC. I'm happy for them to be high now, as they are slitting their own throats. Have you been paying any attention to the rapid rise of EVs as a result? High gas prices are doing a better job than government subsidies did to kick start the EV market. In China, the largest auto market by far now, EVs are 25% of the total. We have crossed the tipping point. This is going to clobber oil demand within just a few years. The USA I think is going to hit 10% EVs this year! High oil prices are the best thing that can happen both for the environment, as well as for the economy, because the wealth created by the transition to EVs will far outweigh the economic damping we are getting currently from higher energy prices.

To: koan who wrote (255515)	10/27/2022 11:51:05 PM
From: Wharf Rat	1 Recommendation Recommended By Ms. Baby Boomer Respond to of 359689

"The oil companies profits have tripled to 9 billion in third quarter." Yep; it's a volatile industry. When times are bad, and demand for oil drops, their profits drop. When global demand exceeds supply, like now, profits go up. Total Q4 and full-year 2020 earnings: Oil major's profit falls 66% cnbc.com Feb 9, 2021 — The energy major said full-year 2020 net profit came in at $4.06 billion, beating expectations of $3.86 billion from analysts polled by ... == It's not the first time this has happened. In 2008 (which also wasn't the first time), the price was bid up to about $150.bbl, IIRC, before it crashed. Every time it happens, corporate hatred follows, somebody investigates, nothing is found, Bernie makes an angry speech, and we buy more cars that use their products. Exxon's Second-Quarter Earnings Set a Record nytimes.com Aug 1, 2008 — Exxon's profits were nearly $90,000 a minute over the quarter, but it was less than Wall Street had expected. Exxon's shares fell 4.6 percent, ... == and then.... Oil producers running out of storage space - NBC News nbcnews.com Mar 3, 2009 — As demand for crude has plummeted, the world suddenly finds ... Many oil tankers are little more than floating storage facilities now. -- and this time Oil held in storage at sea approaching 2009 record as glut ... reuters.com Apr 1, 2020 — There are over 770 supertankers in the world - each carrying a maximum of 2 million barrels - and shipping sources estimate that between 25 to ... == I'm not sure how much gouging is going on. World oil production is 5 M BPD below where it was 2018, so the price gets bid up. peakoilbarrel.com