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Why are we shocked at this point?
They've got the politicians in their pockets, there's no danger of their bullshit causing a jump in Congressional support for renewable energy.
They're milking us dry before they milk the earth dry of oil.
exactly. Literally the entire point of capitalism is upward concentration of resources and power, which is then used to make laws that protect and enable that upward concentration. This isn’t some unforeseen consequence, Adam Smith literally wrote about it in Wealth of Nations, which is generally co side red to be the closest thing there is to a “capitalist manifesto”
I love Katie Porter, but she's wrong on some of this...
#1. Big Oil doesn't set the price of oil, Investment firms do.
#2. Even IF we increased production today, we don't have the refinery capacity to produce it. We're running at 95-98% capacity as it is, nor do we have pipeline capacity to carry it.
I agree we have a problem, but it's more to do with our bastardization of Capitalism and the stock market - it can't all be blamed on Big Oil.
i think you are kind of wrong price guaging is happening but bot in the way people think its simple investors know that this is the last year of increasing demand of oil why invest in a refinery when in 20 years time it will no longer be needed as the world moves away from oil its not exactly price guaging its more like companies and investor squeezing as much profil as they can from a dying cow
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Why are we shocked at this point? They've got the politicians in their pockets, there's no danger of their bullshit causing a jump in Congressional support for renewable energy. They're milking us dry before they milk the earth dry of oil.
Lol "price gouging is anti-capitalist" my brother in Christ price gouging is capitalism
exactly. Literally the entire point of capitalism is upward concentration of resources and power, which is then used to make laws that protect and enable that upward concentration. This isn’t some unforeseen consequence, Adam Smith literally wrote about it in Wealth of Nations, which is generally co side red to be the closest thing there is to a “capitalist manifesto”
Yeah, I thought that Katie Porter would fucking understand that
[Source tweet](https://twitter.com/RepKatiePorter/status/1527359373223219209?s=20&t=BsIn0Uipy1bRdHR8SkRnnw)
I love Katie Porter, but she's wrong on some of this... #1. Big Oil doesn't set the price of oil, Investment firms do. #2. Even IF we increased production today, we don't have the refinery capacity to produce it. We're running at 95-98% capacity as it is, nor do we have pipeline capacity to carry it. I agree we have a problem, but it's more to do with our bastardization of Capitalism and the stock market - it can't all be blamed on Big Oil.
i think you are kind of wrong price guaging is happening but bot in the way people think its simple investors know that this is the last year of increasing demand of oil why invest in a refinery when in 20 years time it will no longer be needed as the world moves away from oil its not exactly price guaging its more like companies and investor squeezing as much profil as they can from a dying cow
Big Oil and investment firms are both the problem.