Oil companies, rhetoric, capitalism and rising prices

Albany NY

Description

So prices started to rise when Biden won not when he took office, it's not about supply or policies he implemented but about oil companies taking advantage of anti-Biden rhetoric to raise prices. Capitalism at its finest, and now they won't remove the oil from fields that are dormant, that have been licensed, that have no barriers to drilling, that are ready to go, instead maximize profits because the rhetoric gives them the cushion. So the people pushing the rhetoric are responsible for giving the oil companies the cover to raise prices, got it. Here is a fun chart: Col 1 Ave., Col 2 Low, Col 3 High 2016 $38.70 $26.66 $46.72 Dollar fell 2017 $48.98 $44.03 $57.44 OPEC cut oil supply to keep prices stable 2018 $61.34 $42.80 $67.79 2019 $57.95 $49.71 $65.42 2020 $37.22 $16.74 $53.87 Pandemic reduced demand 2021 $65.85 $49.52 $77.15 2022* (Q1) $94.68 $77.46 $106.00 Russian invasion of Ukraine created uncertainty about global supply