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ActualSpiders t1_iu3981o wrote

Reply to comment by [deleted] in Shell paid zero windfall tax in UK despite record global profits by hugglenugget

Sure. There's no connection between oil companies and oil producers. There's certainly no reason to think that oil companies making record profits has anything to do with the Saudi royal family combined being worth almost $1.5 trillion dollars. Yep, nothing linking those things at all.

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[deleted] t1_iu41ujl wrote

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ActualSpiders t1_iu56j99 wrote

No, it's the exact same reason every monopoly or cartel doesn't constantly raise their prices - a combination of topping out what the market can/will pay for the product (car travel in the US went down markedly over the spring & summer because gas was too expensive) and also wanting to stay "below the radar" because when consumers finally realize how they're being played they tend to demand action from their government.

This has all been studied extensively in economics & understood for generations now. Again, it ain't rocket science.

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[deleted] t1_iu59ln5 wrote

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ActualSpiders t1_iu5bac3 wrote

Supply and demand work differently in a market where supply is dominated by a cartel. Ho read some basic econ books and then get back to me because it's clear your understanding of the subject isn't sufficient to run a lemonade stand. Good day.

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