I do live in the real world idiot. It is you who does not. In fact I live in a part of California that has 2 primary industries, agriculture and petroleum production.
For decades OPEC controlled the world price of petroleum. Under the leadership of President Donald John Trump the United States achieved energy independence from OPEC. Within days of President Biden taking office that changed and US prices started to rise rapidly. OPEC does not consist of companies. It consists of governments. The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of 13 countries. OPEC - Wikipedia
Biden sets new Covid vaccine goal of 200 million shots within his first 100 days: 'I believe we can do it'
PS the US is Still energy independence from OPEC. Your Welcome
What do you think supply and demand is Billy? Supply is the greedy corporation, demand is the lowly consumer. Once again you prove you know nothing. How are you even able to get dressed in the morning?
When consumer demand for a commodity rises, the supplier will meet that demand at a higher price. In the gasoline market, the summer driving season is a good example. Many fuel retailers, especially along interstates and major highways, will raise prices to meet the increased demand for fuel by the traveling public.
If oil companies are "greedy" and they cut production to fill their pockets, then how do you explain the unprecedented oil production from those very companies under Trump?
Read this, simpleton.
Oil prices fell sharply as producers pumped more than the world could consume. OPEC was largely blamed for the free fall in oil prices because it refused to cut down its production. But OPEC said U.S. shale drillers were to blame for pumping too much, and should cut their production first.
https://www.cnbc.com/2018/05/15/what-drives-oil-prices.html
Expected.
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