Yup, we trade around a little for logistical reasons like refining abilities. But if the US produced twice what it consumed, it would sell the rest on the world market and have a VERY strong dollar. We're in a better spot than we were twenty years ago though for energy independence.
You can cherry pick a few items to make a case, but that's just cherry picking. I could also "cherry pick" certain other items just to say we we are in deflation, but that would not be accurate. The best gauge is CPI or PCE, which takes the most accurate, broadest view. Inflation was over a whopping 9% in the spring. Here is a 2025 chart. There has been massive improvement, despite what some single items might cost. Our economy, and America, is healing.
Not sure where you got that chart and I can't read it because the x-axis label is missing. But your conclusion is not correct. Inflation has not been 9% for years. The economy is not healing. Job growth has completely stalled due to tariff uncertainty. the president is literally trying to fire a fed governor right now so he can replace her with his people and drive interest rates lower. Before that he attacked the fed chairman, claiming gross mismanagement of federal reserve renovation project. that's not a sign of a healing economy.
Gimmie some, please.
Exactly, so I don't know why people expect increases in US-produced oil to lower their gas prices in the US. Oil is sold on a world market and subject to supply and demand both at the level of crude as well as refining. Pumping more oil from the ground in the US that is headed for Asia for refinement isn't going to lower gas prices here but you'd be surprised how resistant many were here a few years ago when we were discussing it because it didn't jive with a particular agenda. It is what it is as they say...
Because they listen to, "Drill baby drill". They do not understand Capitalism.
ExxonMobil, Shell, BP and others also operate their own gas stations. If they're so honorable, why aren't we seeing gas at their stations being sold with "reasonable" markups on top of wholesale prices? In the retail space, competition seems plentiful. Are you suggesting there is a cartel agreement among the dozens of companies who sell fuel to consumers? This is a genuine question, perhaps there is one, IDK - I often see all gas stations in my area mysteriously move prices up and down in perfect unison - something that's unlikely to happen spontaneously in a free market environment.It’s not big oil even though everyone likes to blame them.
Big oil goes out and searches for oil, drills it out of the ground, moves it to the refinery and refines it, then moves it to your local distribution depot for about $2 a gallon. All those things cost billions in capital up front, which may not even pay out.
Then your local gas station tacks $1 on to it because they have "costs" but we still blame big oil.
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Everyone likes to hate on big oil but the local rip off center is just the nice little guy. Trust me, Sheetz, QT or Pilot are not little guys. Do you think they put no margin on gasoline and then put 300% on a soda?
I wouldn't expect big oil to have that, I'm just sick of people saying for years that prices are controlled by supply and demand...
Hardly
I’m thinking ….As opposed to greed and opportunity? You with me?
Exxon owns zero retail stations - they divested years ago - there all franchised. Chevron owns a number of stations on the West Coast but nowhere else - which according to their shareholder reports - they keep primarily to help show a positive corporate image in the West Coast market where govco is constantly trying to shut down their refineries. Shell and BP I don't know - I don't pay much attention to foreign owned oil companies, not that I have anything against them.
Probably for the same reason grocery stores don't give groceries away. However it would be interesting per your above question to compare pricing at corporate stores vs franchise stores in the same market over a period of time. Some California business grad student needs to do this for us.
Come here when there is a hurricane in the gulf, wholesale prices haven't changed, but retail prices double. Its price fixing, or profiteering, or whatever you want to call it.
There are too few refineries because no one has built one here in decades. Still per what I posted above wholesale price of gas in most places is still under $2 and that includes everything including refining, yet the stations are still charging $3+. So you figure out who makes the most on a gallon.
Yep!
They don't "care", but there not going to deploy capital where there constantly being sued. There not going to build refineries, or pipelines or other capex intensive infrastructure where they might get approval after 10 years of trying then the next change in leadership shuts them down after they already made a ton of investments - like the Keystone Pipeline. Go look at Capex for big US oil, and compare how much of its spent domestically. Better to spend it in Guyana where people like them.
You are incorrect. I never said "inflation was 9% for years". I specifically said "Inflation was over a whopping 9% in the spring". You need to do two things. First, reread, and try to comprehend with accuracy, and second, end your political criticisms. Its 100% against the rules.
Correct. Gas is as low as $2.29 around Houston. I can buy it for $2.35 or $2.39 right down the street. Far cry from the $5+ gas not too long ago. America is healing!
