Re:A Random Distribution of Wealth (2017)
by osigurdson on Friday June 24, 2022 @09:06AM
(#31861155)
Two years ago, oil was at $0. If the war in Ukraine ends, oil will likely go back to $40 or less. Larger projects take years to develop and long term prospects are dismal since we won't be using oil anymore. Can you really blame companies for being cautious?
[ Parent
| on HN ]
They have essentially tripled their profits at the expense of everyone else
This is what unbridled capitalism and profit seeking gets us
Itβs not easy/quick to spin up production. The demand is somewhat inelastic, and they sell it to the highest bidder. Not sure what you want?
Its purposeful, go listen to the calls
They have production capacity already and they refuse to use it
Re:A Random Distribution of Wealth (2017)
by osigurdson on Friday June 24, 2022 @01:59PM
(#31866680)
Were you petitioning for government bailouts for the oil industry when oil was at $0?