After all, we’re invoking the Defense Production Act to boost rainbow and unicorn fart production.
President Joe Biden’s energy secretary, Jennifer Granholm, expressed ignorance ahead of a high-profile meeting with executives, stating she does not know what oil companies need to produce more gasoline.
You could start with expanding drilling leases. That’ one of the longest lead time fixes, so you need to do it first.
Then you let the refineries shift back to petroleum processing instead of biodiesel. (And end that insane ethanol boost; we know you want to destroy vehicles, but if this continues we won’t have an economy left for you idiots to transform.)
Refineries also need increased — and reliable — oil input. This is another long lead item, but remember — well Gropin’ Joe probably doesn’t — those pipeline projects he killed? Yeah, that’s when the BIDEN price increases started. Oil companies were projecting operation based on futures (you may have heard the term in passing; get a stock market type to explain to you in single syllable words). They planned their production around expected future flow, and you green-manure-for-grains killed that future market.
And telling gas stations to lower their prices (I swear I saw two or three reports of that already)??
Do you know why gas stations for last few decades have convenience stores or other associated restaurants and shops? Gasoline is damned near a loss-leader for them. Folks come in for the gas, and pick up some over-priced merchandise while they’re at it; and that where most of the station’s profit is. Very few stations can afford to cut their gas prices much, or they won’t have enough money to fill the pump tanks again (there’s that futures thing again; current prices reflecrt what the station projects to need for the next tanker load).
Oh, and that fucking brilliant plan of increasing taxes on oil companies?
WTF? Of course that’ll raise prices. If I were an Exxon shareholder, I’d demand the removal of any executive who paid that out of earnings which — futures again — they’ll need to keep paying for more oil to process. Those taxes will be passed on to the consumers.
And those nasty profits you economically challenged morons whine about? Higher current earning don’t mean higher profits until you figure in the higher expenses your policies are forcing on them.
And if someone can’t make a profit in the oil industry, why would they continue to invest in it?
Sure, you think think we wouldn’t need nasty oil if we’d just get rid of our intenal combustion vehicles and peddle to work or drive in our gas/coaled-generated electricity powered econoboxes.
One, that conversion will take decades at best.
Two, we’ll still need oil. Lubricants, plastics (and you do not want to return to the days of non-plastic medical care), chemical feedstocks, medicines… It’s a long list.
I’m fairly sure none of these morons passed so much as a high school Home Ec course.
Now excuse while I go mow the grass with my unicorn fart gas powered mower.
Assuming I have enough left in the tank to do the whole yard.
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