What goes up is not going to come down ...

[Johnny P]

What does Biden have to do with record 1st Quarter profits of ALL oil companies?

Largest free cash flow in 25 years. Sounds like a leopards ate your face argument if it's all about capitalism and government staying out of the way?

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Vern says you aren't working hard enough.

Pull up those boot straps.

Capitalism just started under Slo Joe?

[Vern Humphrey]

Capitalism just started under Slo Joe?

Capitalism is dying under Slo Joe.

[Art]

Back to the OP.

One reason it (cost of living) never comes down to where it was is "fiat currency" which is based on nothing other than the government's word. currency based on something else (gold, silver, paladium whatever) is limited to a finite amount which means in an emergency, or in case of the need to buy off the "plebs," there's never enough.

With fiat currency, even with the most diligent control of the printing press, there is a constant rate of inflation. 1% to 2% a year is just fine and we've been at that since the early 1980s. Now we're back to partying like its 1978.

There is an interesting scene in the old movie "Viva Villa." After the revolution Pancho Villa (Wallace Beery) is informed the country couldn't pay its bills. His solution is to contract a printing firm to print a bunch of paper money. When the printers come in with chests of paper money they demand payment. Villa tells them to take payment from the money they printed. When they demand to be paid in specie Villa throws a tantrum and tosses them out. That's fine if you want to be Venezuela.

[Roadkingtrax]

Capitalism just started under Slo Joe?

You're the one complaining about the system you want? Vern says you need to work harder.

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Capitalism is dying under Slo Joe.

So you agree the oil companies might be manipulating the market? Ouch.

[Art]

[QUOTE=Roadkingtrax;632345]What does Biden have to do with record 1st Quarter profits of ALL oil companies?

In big companies profits come and go with the circumstances. Exxon alone lost over $22,000,000,000.00 in 2020 because no one was going anywhere.

[Roadkingtrax]

We have a choice to buy gas or not...right.

[togor]

What does Biden have to do with record 1st Quarter profits of ALL oil companies?

In big companies profits come and go with the circumstances. Exxon alone lost over $22,000,000,000.00 in 2020 because no one was going anywhere.

Exactly the reason petroleum investors want high prices now. Tomorrow's drilling can wait for tomorrow, as far as Wall Street is concerned.

But the purely political partisans here cannot acknowledge this.