Some shit don't add up. Price per barrel up by 10 percent over historical rates yet gas is $5.79 average in Oregon. Whos making the money other than Demonrats?
A windfall is by definition unexpected and above the norm. What the left is always harping about in cases like this is "windfall profits". Well, the petroleum industry's profits are neither unexpected nor above the norm. Every commercial endeavor has to make a profit to remain viable. The petroleum industry has experienced an increase in costs and so wholesale prices must keep pace and that's that. They don't control retail prices at franchises or independent retailers, but those businesses have to make a profit too and it's usually a minimum percentage above cost. The leftists pulling Sleepy Joe's strings not only knew perfectly well that their "energy policy" would result in skyrocketing prices and shortages, it was, obviously, their intention that we are in this boat. These idiots are just deflecting as usual.
Gas is high in California because of the tax and rules already in place. If they tax them more it'll come out of the consumers pocket. Newsom is such a jackass.
Grease Slick is being very slippery. Big breaking news a month before the election of a special legislative session to maybe take place a month after it. Nice to see him making an effort to look concerned about his base, and maybe even the AT LEAST 50% of us who never vote for any Democrat despite what the Secretary of State ever says. --nines
I'm surprised the oil companies haven't adopted Hollywood Accounting. It's how they turn a movie that grosses 10 times its cost into a losing effort. There's a good write-up on it here. https://www.theatlantic.com/business/archive/2011/09/how-hollywood-accounting-can-make-a-450-million-movie-unprofitable/245134/
There's an old joke about the Mafia trying to hire a new accountant. The first accountant they interviewed was asked on simple question: "What's 2 plus 2?". He answered 4. The next accountant was asked the same question and gave the same answer. The third accountant was asked how much 2 plus 2 was, and his answer was "How much do you want it to be?". Guess who got the job.
Most of the profits will be hidden, any taxes that must be paid will simply be passed on to the consumer. Our legislators have simply lost touch with the real world and can't see the simple economics involved.
I would counter that most of our legislators, especially in California, didn't lose touch with reality, they never knew what was real to begin with because they were educated at public schools and public universities, and many were raised by Marxists. Add the facts that many have never held a job that wasn't a government job and almost none have ever signed the front of a paycheck and it tells you everything you need to know about why this state is screwed.
on 19-APR-2020 the price of oil/bbl was $16.94. Now the Bribem has stopped all of the production that led to that price, Nuisance is blaming the oil co.'s for the rise in gasoline prices when, on 05-JUN-2022 oil was $120.67/bbl and today is $88.85.
Typical Demonrat logic. ...and this guy thinks that he's going to be President 2025.
Just like the proverbial shit, oil taxes just roll downhill. It's just great having an caste elitist, economic illiterate as governor.
ReplyDeleteSome shit don't add up. Price per barrel up by 10 percent over historical rates yet gas is $5.79 average in Oregon. Whos making the money other than Demonrats?
ReplyDeleteA windfall is by definition unexpected and above the norm. What the left is always harping about in cases like this is "windfall profits". Well, the petroleum industry's profits are neither unexpected nor above the norm. Every commercial endeavor has to make a profit to remain viable. The petroleum industry has experienced an increase in costs and so wholesale prices must keep pace and that's that. They don't control retail prices at franchises or independent retailers, but those businesses have to make a profit too and it's usually a minimum percentage above cost. The leftists pulling Sleepy Joe's strings not only knew perfectly well that their "energy policy" would result in skyrocketing prices and shortages, it was, obviously, their intention that we are in this boat. These idiots are just deflecting as usual.
ReplyDeleteGas is high in California because of the tax and rules already in place. If they tax them more it'll come out of the consumers pocket. Newsom is such a jackass.
ReplyDeleteGlad I'm out of CA forever.
ReplyDeleteGrease Slick is being very slippery. Big breaking news a month before the election of a special legislative session to maybe take place a month after it. Nice to see him making an effort to look concerned about his base, and maybe even the AT LEAST 50% of us who never vote for any Democrat despite what the Secretary of State ever says.
ReplyDelete--nines
When you tax windfall, won't there me less wind, and therefore less wind energy?
ReplyDeleteI'm surprised the oil companies haven't adopted Hollywood Accounting. It's how they turn a movie that grosses 10 times its cost into a losing effort. There's a good write-up on it here. https://www.theatlantic.com/business/archive/2011/09/how-hollywood-accounting-can-make-a-450-million-movie-unprofitable/245134/
ReplyDeleteThere's an old joke about the Mafia trying to hire a new accountant. The first accountant they interviewed was asked on simple question: "What's 2 plus 2?". He answered 4. The next accountant was asked the same question and gave the same answer. The third accountant was asked how much 2 plus 2 was, and his answer was "How much do you want it to be?". Guess who got the job.
Most of the profits will be hidden, any taxes that must be paid will simply be passed on to the consumer. Our legislators have simply lost touch with the real world and can't see the simple economics involved.
There was a Zero Mostel/ Gene Wilder movie along the same lines.
DeleteI would counter that most of our legislators, especially in California, didn't lose touch with reality, they never knew what was real to begin with because they were educated at public schools and public universities, and many were raised by Marxists. Add the facts that many have never held a job that wasn't a government job and almost none have ever signed the front of a paycheck and it tells you everything you need to know about why this state is screwed.
ReplyDeleteThe solution to too much government: MORE government.
ReplyDeleteThen, Newsom will blame Texas and Florida for "stealing" all the big companies.
ReplyDeleteon 19-APR-2020 the price of oil/bbl was $16.94. Now the Bribem has stopped all of the production that led to that price, Nuisance is blaming the oil co.'s for the rise in gasoline prices when, on 05-JUN-2022 oil was $120.67/bbl and today is $88.85.
ReplyDeleteTypical Demonrat logic. ...and this guy thinks that he's going to be President 2025.
Nemo