Two decades ago the US waged war to get oil from the Middle East. Today it wages war to stop oil from the Middle East.
If their profits are increasing, that means their costs aren’t the issue.
Production costs haven’t gone up for anyone. It’s purely a supply issue, as production has been entirely halted for ~18% of the world’s oil
I hope they stay greedy, this will only accelerate the transition to renewables even faster.
My personal wackadoodle conspiracy theory, which I unload on anyone in my red state who doesn’t run away fast enough, is that trump is a liberal plant to trick the US into switching over to renewables.
*As they exploit the slight increase to their costs to make markedly more in profits by charging consumers a 1200% markup of the cost difference.
Dont forget about the US spending 35 billion dollars of tax payers money a year to subsidize the fossil fuel industry…
That’s the great thing about percentage-based profit margins.
