My good friend in the pleas remove your head from your asses.
Ok hear me out. And think about this instead of spinning and hating ok.
At this moment all of the gas you buy has 10% ethanol.
So that means on average we are importing 10% less crude ever day!
Now that's a huge change! I assure you if I could improve just one process here by 10% I would be given a GS-15 job tomorrow.
Now that aside, the ethanol you put in your car costs pennies because the fedgov subsidizes it. Ok so in theory big oils profits should be down because you are now consuming 10% less of what they have to offer. Correct?
But has their profits gone down? No. Price or crude goes up, so the price of gas goes up. I buy that. Add in the ethanol and the fact that Americans in general are driving less and in theory their local US profits should be even or going down. Simply because less is being bought up.
But that hasn't happened now has it?
|
Linear Mode
