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Shell reports $9.5 billion profit in 2022 3rd quarter. Last year it made $4.1 billion in the same quarter [1]

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Date: 2022-03-27

frauenfelder: frauenfelder: and that once Trump is there, he’ll turn the dial down to $1.64 a gallon

Are they somehow for direct government control of business and regulated price controls now? I get that they don’t actually have a platform, but that seems rather far from the original Republican party platform of the past.

If only I could get my parents to see this instead of nostalgia for something that doesn’t exist.

Everyone with even basic high school economics should know there’s only two ways to reduce the price of gas. Increase supply or decrease demand.

Oil companies aren’t going to increase supply. The capital investment in new refining is to large and the payback so long that it wouldn’t happen before demand drops for other reasons. In the short term, they’ll make more money not investing too. High prices are great for them.

That means decreasing demand. Either through alternatives faster, or other economic conditions that eliminate demand. Pay no attention to the other impacts of economic conditions that lower gas demand.

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[1] Url: https://bbs.boingboing.net/t/shell-reports-9-5-billion-profit-in-2022-3rd-quarter-last-year-it-made-4-1-billion-in-the-same-quarter/233658

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