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Old 05-13-2022, 09:56 AM   #57
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Originally Posted by Keith55 View Post
Meanwhile oil companies reap record profits!
Anyone can buy oil company stock and be an owner. I know - I own some. But those stocks haven't made me rich. This idea - that the oil companies are rolling in unearned profits - gets trotted out whenever government policy drives gas prices higher. It's not true.
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Old 05-13-2022, 10:07 AM   #58
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Originally Posted by Bobby F View Post
Anyone can buy oil company stock and be an owner. I know - I own some. But those stocks haven't made me rich. This idea - that the oil companies are rolling in unearned profits - gets trotted out whenever government policy drives gas prices higher. It's not true.
What government policies have driven gas prices higher?

The only one I can think of is the shutdown of the economy in 2020, which resulted in the USA almost stopping drilling for oil. In November of 2018 there were over 880 oil well drilling rigs operating in the USA, but by August of 2020 that number dropped to only 150. You cant produce gasoline and diesel fuel in the future if you stop drilling for crude oil! Fortunately, in the last year and a half or so, the number of oil well drilling rigs operating in the USA is back up over 550 and climbing, albeit slowly. When oil companies decide to spend more of their huge profits on drilling for oil, and the number of oil well drilling rigs operating in the USA gets back up in the 900 range or higher, we will see a leveling off of the price of crude oil, and subsequently gasoline and diesel fuel prices.

https://ycharts.com/indicators/us_oil_rotary_rigs
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Old 05-13-2022, 11:23 AM   #59
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Thread Warning

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Old 05-13-2022, 11:53 PM   #60
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Again Dan

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I believe the cost of driving MY RV has nothing to do with anything or anyone's political Party
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Old 05-14-2022, 05:43 AM   #61
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Originally Posted by Bobby F View Post
Anyone can buy oil company stock and be an owner. I know - I own some. But those stocks haven't made me rich. This idea - that the oil companies are rolling in unearned profits - gets trotted out whenever government policy drives gas prices higher. It's not true.
Dude, company profit and lose is public info. Go ahead and check out Exxon, Shell, BP.

And, our government even subsidizes them.

It’s the amount of stock you have in a company to collect wealth. No one ever got rich purchasing a single stock from one company.

[Mod Edit]
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Old 05-14-2022, 06:08 AM   #62
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Energy independence doesn't have anything to do with the price of fuel in the USA, crude is priced based on the global market

( this is true )

even if the USA produced 110% of the fuel we use, we'd still be paying high prices,

( We don't know that )

it's not like Exxon gives US buyers a discount, if world crude is priced at $120, they aren't going to sell it to American consumers for $80.

[mod edit]

Pumping more oil would help the world market prices a bit by increasing demand, but it wouldn't bring prices down to 2021 levels.
( again you don't know that IMHO)


[mod edit]
Where does this line of thinking come from?

Our independence from having to import oil has everything to do with our fuel prices.

If we are oil independent, the world market has no effect on us. We aren’t importing.

[Mod Edit]

We need to get out of the mindset of needing oil from other countries and stifling our production, which HAD lowered the price we paid at the pump.

[Mod Edit]

[Mod Edit]

I’ve worked In Saudi Arabia. They only have one grade of fuel, premium, at 85 cents per gallon. Why? Because they are oil independent. They import zero oil. We were on the way to being just like they are. Oil independent. Key word, were.

All data is publicly available or it can be had by a FOIA.
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Old 05-14-2022, 06:13 AM   #63
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Dude, you don’t get stocks. Its not about the amount of money made, its about the percentage of profit. Invest nothing, get nothing, put in a little, get a little, invest a lot, get a lot. Everyone had todays newspaper 30 months ago, plus 70 plus yrs. of history.

Sure, fuel has gone up approx 160%, food , and other things somewhat less. Ok.

I started an anti-inflation fund 22 months ago, and as of yesterday i had gained 573% in that time. Its easily doable for anyone.

So you can either sit around like a bunch of old maids, fussing, and stewing, or learn the rules of the game, how to play the game. Everyone’s choice.
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