Inflation here? gas/grocery prices just continue to climb (8 Viewers)

[CapitalCitySaint]

Well ive recently come off of a self-imposed 6 mos posting hiatus, so i dont quite remember- but im going to go out on a limb and guess, based on BooBoo’s bio and general sentiment, that his livelihood (and other posters here) may be tied to the very industry he’s here defending… I got no problem with anyone who works in O & G, but at least be willing to admit that your industry is fleecing the American public right now like nothing else we’ve ever seen, and they’re getting away with it .

I worked for BP before. I have a ton of friends who still work in O&G but agreed... don't pretend that your industry is beyond reproach because babyyyyy we are getting effed in the a right now.

I work in Big Pharma - although I work in bio-pharmaceuticals - but am acutely aware of some of the very shady things that happen in my industry - especially once products are commercialized.

 

[Mr. Blue Sky]

I worked for BP before. I have a ton of friends who still work in O&G but agreed... don't pretend that your industry is beyond reproach because babyyyyy we are getting effed in the a right now.

I work in Big Pharma - although I work in bio-pharmaceuticals - but am acutely aware of some of the very shady things that happen in my industry - especially once products are commercialized.

Im in medical sales, but I spent many years living in Houston and almost went the O&G route a couple times.. im honest enough to admit that id be loving the windfall profits right now if id gone that route, but i promise yall i would also not be here talking about ‘price fixing’ for wanting gas prices to come down to a reasonable level, and i 100% wouldnt be intellectually dishonest enough to say that ‘O&G didnt take any money’ from the government since i know good and well they are literally getting it coming and going from us right now, in the forms of subsidies AND astronomical gas prices .

 

[BooBirdSaint]

The O&G industry ‘didn’t take any money’ ?? Maybe not in that instance, but to this day, my money and ur money- tax dollars- are used to subsidize an industry in which one company, Exxon i believe, made $9 Billion dollars just last quarter……….. So you are so far off the mark on that point, that it’s insane.

And since when does not wanting an industry to continue PRICE GOUGING, which is what they are doing while raking in Billions in profits and still increasing gasoline prices- since when does not wanting them to do that equal asking them to “price fix” ?? Seriously, get a grip .

And Apple made $100 billion. You think that iPhone is really worth $500 when it's made with 1.36 an hour labor? Or is a titanium hip really worth $15,000? Its not price gouging its economics.

Not a secrete that I work in O&G and have for almost 40 years (got my start at LL&E). Put holes in all over the globe in support of what everyone wants, energy. I just think that its funny that the O&G industry is always the bad guy when the price of gas goes up like the industry is in collusion on pricing. When in fact we the consumers and for a certain part the government control the price via demand and policy. I say government because they set national policy which often sets the tone for the O&G industry. Like when the President says no to drilling, pipelines and an end to fossil fuels. So when O&G shuts down refineries and stops drilling which is what the government wants it goes into meltdown mode and time to blame the O&G for not giving it away for free. If the Government really wanted to help consumers out there are so many levers they could pull to reduce gasoline prices indirectly. But, then the Government wouldn't have someone to blame for problems they created.
Don't like O&G then buy an EV car and you are free. How much is an EV car right now? Why isn't Tesla getting raked over the coals for increasing the price of its EV cars in this time of crisis?

 

[porculator]

Airlines run some of the largest fuel hedges on the planet. They are still paying for Jet fuel on Covid pricing thru the summer. Also, since the airlines took all that Government money I'm sure they are being strong armed by the Govt to keep fairs low. Unlike the O&G industry which didn't take any money is telling the Feds to pound salt when Washington openly asks them to price fix the gasoline market...

There is 0% chance "the govt" (feds, state, or local) can strong arm the airlines into keeping prices low. The airlines have basically gotten "too big to fail" and do whatever they want until they need money and expect bailouts. And they get it, because the airlines are who is paying for airports now, not governments. I assume this is the case for just about everything now, and why the government doesn't seem to have the ability to fix things that historically have been in their scope.

 

[Mr. Blue Sky]

And Apple made $100 billion. You think that iPhone is really worth $500 when it's made with 1.36 an hour labor? Or is a titanium hip really worth $15,000? Its not price gouging its economics.

Not a secrete that I work in O&G and have for almost 40 years (got my start at LL&E). Put holes in all over the globe in support of what everyone wants, energy. I just think that its funny that the O&G industry is always the bad guy when the price of gas goes up like the industry is in collusion on pricing. When in fact we the consumers and for a certain part the government control the price via demand and policy. I say government because they set national policy which often sets the tone for the O&G industry. Like when the President says no to drilling, pipelines and an end to fossil fuels. So when O&G shuts down refineries and stops drilling which is what the government wants it goes into meltdown mode and time to blame the O&G for not giving it away for free. If the Government really wanted to help consumers out there are so many levers they could pull to reduce gasoline prices indirectly. But, then the Government wouldn't have someone to blame for problems they created.
Don't like O&G then buy an EV car and you are free. How much is an EV car right now? Why isn't Tesla getting raked over the coals for increasing the price of its EV cars in this time of crisis?

So much here to unpack.. i dont have the time or the inclination to reply to each of ur points, but on an overarching level, no one here is suggesting (at least im not) that O&G is the ‘bad guy’ as you put it.. Just be honest about the fact that they have us all over a barrel (pun intended) at this point, becuase they can…….. and fwiw the price of Teslas has actually come down, in terms of there being more ‘basic’ models available and coming down the pike .. plus, most Americans dont “need” a Tesla in the same way that most Americans “need” fuel , and have traditionally needed fuel for decades… but you know this.. by all means, though, keep going around with your pretzel logic and maybe you’ll convince someone.. as for me, i took six months of a social media / message board hiatus and am not interested in coming back here and continuing this silliness , but knock yourself out .

 

[BooBirdSaint]

Just be honest about the fact that they have us all over a barrel (pun intended) at this point, becuase they can……

Well, at least the price of gas is out there for everyone to see unlike the prices for some industries...

 

[guidomerkinsrules]

And Apple made $100 billion. You think that iPhone is really worth $500 when it's made with 1.36 an hour labor? Or is a titanium hip really worth $15,000? Its not price gouging its economics.

Not a secrete that I work in O&G and have for almost 40 years (got my start at LL&E). Put holes in all over the globe in support of what everyone wants, energy. I just think that its funny that the O&G industry is always the bad guy when the price of gas goes up like the industry is in collusion on pricing. When in fact we the consumers and for a certain part the government control the price via demand and policy. I say government because they set national policy which often sets the tone for the O&G industry. Like when the President says no to drilling, pipelines and an end to fossil fuels. So when O&G shuts down refineries and stops drilling which is what the government wants it goes into meltdown mode and time to blame the O&G for not giving it away for free. If the Government really wanted to help consumers out there are so many levers they could pull to reduce gasoline prices indirectly. But, then the Government wouldn't have someone to blame for problems they created.
Don't like O&G then buy an EV car and you are free. How much is an EV car right now? Why isn't Tesla getting raked over the coals for increasing the price of its EV cars in this time of crisis?

Well first can we get a bit more nuanced than ‘the government’?
There’s no such entity - maybe there never has been but certainly not in the last few decades
There are competing factions and one is highly influenced by energy lobbyists- so no, it’s not simple

O&G should not have to apologize for producing that seemed universally beneficial- but, we now know that petroleum is not a net positive and so we need to work effectively to fix what O&G broke

Also obviously price gouging and economics are not mutually exclusive

 

[BooBirdSaint]

Well first can we get a bit more nuanced than ‘the government’? How about current Administration?
There’s no such entity - maybe there never has been but certainly not in the last few decades
There are competing factions and one is highly influenced by energy lobbyists- so no, it’s not simple Every industry plays in the Lobbyist space. It's how bail outs get made.

O&G should not have to apologize for producing that seemed universally beneficial- but, we now know that petroleum is not a net positive and so we need to work effectively to fix what O&G broke O&G has accepted Global Warming is a global issue and they are some of the larger investors in alternative energy solutions today.

Also obviously price gouging and economics are not mutually exclusive Correct for there to be price gouging in the gasoline markets there would need to be collusion since its a commodity regulated on both the State and Federal level. Gasoline prices rise or fall on market conditions (supply and demand which is basic economics if I remember my econ 101).

I didn't mean to derail the topic. My apologies to the OP. And just to be transparent, I know I cannot beat a Grizzle Bear.

 

[guidomerkinsrules]

I didn't mean to derail the topic. My apologies to the OP. And just to be transparent, I know I cannot beat a Grizzle Bear.

How about a freshly shaven bear?

 

[CapitalCitySaint]

And Apple made $100 billion. You think that iPhone is really worth $500 when it's made with 1.36 an hour labor? Or is a titanium hip really worth $15,000? Its not price gouging its economics.

Not a secrete that I work in O&G and have for almost 40 years (got my start at LL&E). Put holes in all over the globe in support of what everyone wants, energy. I just think that its funny that the O&G industry is always the bad guy when the price of gas goes up like the industry is in collusion on pricing. When in fact we the consumers and for a certain part the government control the price via demand and policy. I say government because they set national policy which often sets the tone for the O&G industry. Like when the President says no to drilling, pipelines and an end to fossil fuels. So when O&G shuts down refineries and stops drilling which is what the government wants it goes into meltdown mode and time to blame the O&G for not giving it away for free. If the Government really wanted to help consumers out there are so many levers they could pull to reduce gasoline prices indirectly. But, then the Government wouldn't have someone to blame for problems they created.
Don't like O&G then buy an EV car and you are free. How much is an EV car right now? Why isn't Tesla getting raked over the coals for increasing the price of its EV cars in this time of crisis?

I can choose not to purchase an iPhone and still be able to commute to work, the grocery store, doctors appts, etc. My grocery store won’t hike up the cost of food bc transporting it from farms and food processing centers is more expensive bc of the cost of fuel, etc. Me buying an iPhone or a MacBook is a choice. Gasoline is not a choice for most people & businesses in this country - it’s a necessity.

 

[TheRealJRad]

I was just at an industry convention and there was talk of 10% deductibles coming. 10% on top of rate increases. Thats not set in stone, so it may never come to pass, but at this point, nothing would surprise me.

My homeowner’s doubled this year. The only policy I could find in that price range has a 10% hurricane deductible.

 

[0rion]

I think it's pretty obvious to most that gas prices are being artificially inflated and gas companies are taking advantage of the situation.

 

[bigdaddysaints]

I think it's pretty obvious to most that gas prices are being artificially inflated and gas companies are taking advantage of the situation.

No, half would still Like to believe that gas prices worldwide is 100% the president's fault.

 

[Rickboy]

Went to Chick-Fil-A today. It’s been a while. Each combo meal was almost $9.00. Shakes were $5. All together it was just a hair over $40.

Yea, I’m not going to be doing much eating out any longer.

 

[bigdaddysaints]

Blue Store Chicken in BR is still $24 for 25 full sized wings. The first time i went, When i saw that on the menu, i thought it was buffalo wings. So i ordered 25 for me and my wife. When he brought me a pan full of 25 full sized wings, i was like, oops.. needless to say i had lunch for the next few days...lol. I don't know how they continue to sell their cheicken so cheap, and its so good. Honestly if i had my choice of Blue Store Chicken or Popeyes, I'll take the Blue Store. They also have their egg rolls 2 for a $1. I keep waiting on them to jack the prices up, but they have been holding steady...