(07-09-2022, 12:12 PM)SeldomRite Wrote:

(07-09-2022, 11:32 AM)The Real Marty Wrote: So your solution to high oil prices is to have the  government run the oil industry?

It's the answer to the question of why America is exporting oil instead of using it for the benefit of the nation.

The question, if we ever did nationalize oil, is would the government use that power rationally like Norway does, rewarding expertise and reinvesting significant profits to improve operational efficiency, or would our government use it like Venezuela does, rewarding political loyalists and diverting all profits to social welfare schemes and corrupt politicians ?

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(07-09-2022, 10:23 AM)The Real Marty Wrote:

(07-09-2022, 09:38 AM)mikesez Wrote:  My rational brain agrees with everything you just said, However my lizard brain thinks it's too much of a coincidence that Biden sent out that dumb tweet, and wholesale gasoline prices started going down the very next day.   Coincidences like that will make a conspiracy theorists out of a lot of us...

A free market system works best when businesses try to make as much money as possible.  That brings competition, increased production, economic growth, and jobs.  

You don't cure inflation by asking people to lower their prices.  That's idiotic.  This whole idea that inflation is being driven by greedy businesses is pure demagoguery.

Oh I know.
My best guess is someone in the oil industry tipped Biden off that some extra supply was about to be offered for sale, or that a big time speculator was about to abandon their market positions, and he timed that tweet perfectly to make it look like he ordered the prices to go down.

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