Viewing a single comment thread. View all comments

Good-Expression-4433 t1_iu4o3u4 wrote

Reply to comment by BMorris2526 in Please prepare yourself we just ordered more oil to heat the house and was told due to a pending shortage f diesel and home heating oil there will be rationing of it by Frequent_Ad_7824

It's not exactly self inflicted when oil companies are intentionally keeping prices higher and limiting production.

It's less a matter of direct politics and more a matter of unchecked corporate greed.

12

BMorris2526 t1_iu4oqfz wrote

I disagree. Oil companies don't control the price of oil. It's a free market and it's controlled by supply and demand. If they could control the price, they would not have been selling oil at $25.00 a barrel while the orange man was president.

2

Still-Significance-8 t1_iu6rhj3 wrote

They can absolutely manipulate the markets by simply shutting off wells and forcing scarcity. Then they can pump less oil and make more money. No oil company is going to increase production to sell it for less.

5

Dt74104 t1_iu69an2 wrote

You’re completely incorrect. The price of crude is controlled, in some ways, similarly to the price of diamonds. Never mind speculation affecting the indexes. “Free market” is not even close.

2