Oil Companies Are Colluding to Raise Gas Prices in America

The FTC uncovered a series of texts between Pioneer Natural Resources CEO Scott Sheffield and OPEC officials agreeing to limit oil production to raise prices.
They raked in huge profits, while their scheme cost consumers $200 billion a year in higher prices.
That’s about $3000 a year per family.
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[@EcoStu2050]

This is exactly why corporations love the “left vs right” drama, because the real fight needs to be between the bottom and top (people vs corrupt corporations)

[@autophreaktrishield]

Johnny Silverhand was right.

[@Blackatchaproduction]

​@@autophreaktrishielda man of culture I see

[@YRS24]

But unions are by definition left

[@itsoktobehappy461]

Corporations are people and usually the best and brightest people we have.

[@rickb3650]

@@itsoktobehappy461 Only people that waste their lives inside these legal fictions, or profit from the non-productive extraction of wealth they generate, say that. Everyone that has actually seen corporate world from inside knows that the morons-in-charge are worse than bureaucrats in government.

[@donfolstar]

"38 Republican Senators wrote a letter telling her to back off" - there it is, the most important line of this entire video full of important lines.

[@jamesrisse2173]

@@jonm9361 "investigate the thing fairly" by removing references to climate change - which is what this video was all about, right?

[@marshallsweatherhiking1820]

@@jonm9361Why do you defend oligarchs? Such bootlicking.

[@jtg753]

@@jamesrisse2173 Sounds like someone (you) supports electric cars, there by supporting slavery to mine cobalt and lithium for said electric vehicles. Which run off a grid powered mostly by what? Liberals commit atrocities to the planet just like anyone else.

[@adkjfasldkf]

​@@jonm9361 The senators in the letter clearly are in strong favor of the merger, try to blame the Biden administration for high prices and make claims like "costs to consumers will fall" after the merger. They try to disguise it in language of investigate it fairly. I do agree that the video misrepresents it somewhat, but it's easy to see that they really don't want it investigated in my opinion.

[@Kidd4ever]

So Democrats ARE NOT taking oil industry donations??!!! Is THAT what you are saying?

[@elisegeum1514]

Companies are not about products and services anymore, it's all about profit shareholders and price gouging because they can.

[@denverspin]

And who regulates that? They are in it together. We have an illusion of a democracy. It’s a big club, and you ain’t in it - neither am I. transfer of wealth.

[@practicaliching2311]

Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.

[@Michael-F4ul5kzbuck]

Theadore Roosevelt woulda stoped that

[@johnassal5838]

Exactly so. And the totally inept executives still only stay afloat because how many of them are monopolies. These jerks couldn't run a fair and competitive company to save their lives but of course the workers would take the blame

[@practicaliching2311]

@@elisegeum1514 Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.

[@shanemichael3925]

Corporate greed will drag the average citizen down, time for boycotting greedy corporations.

[@allencheck501]

Amen 100%

[@scottwolverine3062]

thats what ive been saying all along

[@JohnWachuta]

Makes my stomach turn. The rich just keep getting richer. Corporate greed at its finest. Wouldn’t it be nice to see middle America get ahead.

[@shenmisheshou7002]

Did you know that state and federal taxes add about 50 cents per gallon of gas, while the oil companies make about 30 cents per gallon? In other words, the government makes more off of you than the oil company does and the government doesn't spend a penny to drill for the oil, transport the oil, refine the oil, and ship it it to distribution facilities.

[@busterg2167]

That tax money goes for the roads you drive on. The 50 cent tax and the thirty cents the oil company makes doesn't add up to three four or five dollars at the pump does it. It's called price gouging..

[@TanisC]

So...after the FTC finishes their investigation, then what? Another fine which is a drop in the bucket to these psychopaths? We all know that these people will never see the inside of a jail cell, nor will they break up these corporations.

[@mooseymoose]

Nor will anyone who's been ripped off ever see a dime.

[@zoloftsucks-archive7608]

A fine they pass on to the consumer

[@wholeNwon]

The administrations will change and it will all be quickly swept under the rug....again.

[@monkknom6919]

cONGRESS WONT LET THOSE FOLKS GP TO JAIL AKA THE HOUSE REPUBLICANS!

[@Dannyboy0202]

Remember the banking crisis. Total fraud and not one banker went to jail.

[@dth99times]

The FTC is going after companies for price fixing? Can't wait for some judge to rule that large companies are allowed to fix prices as a matter of protected speech.

[@mikemann1960]

Approaching the tipping point at high speed!

[@sjsomething4936]

The current SCOTUS would very likely vote that way in a 6-3 split 😡

[@ronaldviens7862]

Not only that, but it is the basis of capitalism. A vendor can charge what they feel is a reasonable price. Customer grievances go to FTC. Executive branch has to use Executive Orders to activate its checks and balances on the issue. Government price fixing is socialist, according to capitalists everywhere who begrudge being required to clean up their own messes or provide health benefits to its employees who have endured harm in doing their job, while unaware of side effects of these jobs. Until it's too late. And then they are thrown under the bus. It's American business models such as these, and wholesale bribery that generate so much animosity against America. It's NOT you and I, it's the businessmen they hate so much.

[@ISureDont]

@@ronaldviens7862it’s all so stupid when you look at it. They’ve whined and complained and swindled their way into more rights than anybody.

[@anitapownall9556]

​​@@ronaldviens7862 Capitalism implies there is competition, but our government has allowed these companies to become monopolies. Theodore Roosevelt is spinning in his grave.

[@AnonymousMusing]

I'd be shocked if they didn't collude. They're that corrupt!

[@monitor1725]

Exactly. If memory serves me correctly, there were 57/58 refineries shut down between 1985 and 1995. I may have the numbers wrong, but a lot of refineries were shut down and you could see the increase of gasoline.

[@crissd8283]

@@monitor1725 There was government pressure to shut down smaller less efficient refineries. The larger a refinery, the more efficient it is and less polluting per barrel of oil. The EPA is in many ways responsible for making these smaller refineries too expensive to run.

[@DonaldDolph-ob8yv]

By design.

[@happylistener4628]

Yes. These corrupt multimillion, billion and trillion dollar corporate entities are proving that, The love of money is the root of all evil.

[@MrScientifictutor]

The finger waving is going to be like nothing else in American history.

[@ericweber1969]

This is a crime. Good on FTC chair Khan for doing the right thing to try and hold them accountable.

[@AAB463]

I love Lina Khan; the wealthy, greedy in congress are trying every nasty trick to get rid of her. We, the American people, have to protect her. Thank you Lina Khan! You are fantastic!

[@wilberwhateley7569]

What? Big corporations fixing prices? Shocking…

[@WMDistraction]

My actual face 😮 🙄😮😮 Sorry my face slipped there for a second

[@SgtJoeSmith]

like the UAW fixing labor prices? Or teamsters union fixing labor prices?

[@Yukosan13]

​labor unions don't fix prices.. they negotiate with the company for better wages or benefits Though many just wanted a safer place to work at.. because safety often comes behind profits.. (And many car companies cut back on safety to increase profits) Also some know their wages get stolen or their getting unfairly paid based on how much profit is being made.. If a CEOs is makeing almost a billion or more.. then they surely can pay more than minimum wage and then some

[@wilberwhateley7569]

@@SgtJoeSmith Apples to oranges - labor unions negotiate contracts (wages being part of the contract), corporations adjust prices unilaterally *at will* and consumers often have little recourse.

[@artoffderidikulous3009]

Don't forget to include our government, which is constantly working against our interests!!

[@LIndaZak-wg7xe]

Their profits TRIPLED in 2021. Profits rose steadily, then in the last quarter of 2022 they reported that their profits had DOUBLED. Yeah. That’s price gouging

[@mitchelpinion1852]

What is your source? Who are you talking about? Some selective use of years and possibly statistics here. In order to get some idea of what has really gone on for the last few years, I looked up earnings per share (EPS) for EXXON Mobile. I just picked them because they are a big U.S. corporation. Here is what I got from macrotrends (the first site that popped up on my search) on the internet: 2020 to 2021 EPS DECLINED by 202.67%; 2021 to 2022 EPS INCREASED 146.01%; 2022 to 2023 EPS DECLINED 32.96% ; for the 12 months ending June 30 2024 EPS DECLINED 33.12% year over year. The fact is the oil industry has always been boom or bust. During boom years everyone hollers price gouging. During bust years, only stock holders, families of oil company production employees and oil company creditors seem to notice.

[@40CaliberMr]

For the life of me, I don't understand why the US government keeps subsidizing the oil companies to the tune of billions of dollars.

[@joeljoss1916]

Because it makes them rich too, it is really quite simple. Watch them jack up prices before the election. The outrage will be directed at the left instead of the greedy corporations.

[@Gekigundam]

Because big oil throws money at political stooges in the form of bribes...er I mean "political donations" pass a few bills in oils favor, block others that could hurt their profits and then the congress critter finds a nice bonus to their re-election fund.

[@pepawg2281]

We the taxpayers subsidize the oil industry to the tune of $20 billion dollars each year in the USA

[@GBuds_RVremodel]

All human activity is financed thru the same International Central Banking System that commands our DoS DoD and CIA as their muscle since 1945. US politicians are recruited puppets with no real control over any part of this treasure harvestation. Politics are the entertainment division of the Military Industrial Congressional Complex that Eisenhower warned us about in his farewell speech in 1961...go KZbin that speech.

[@Smedley1947]

@40CaliberMr Really you can't understand? Just ask yourself how does bribing officials in Congress figure into the equation. There you go, it's because Congress has bought off by the petroleum industry. See that wasn't so hard. Now you know. And when Trump is re-elected he is going to turn loose every facet of the business world by doing away with all their regulations so they will be free to do any God damn thing they want in the way of pollution; screwing up your air water and food. For money. It's that simple. This is not a complicated thing.

[@blast_processing6577]

This should be a major news story in every outlet, but it isn't.

[@denverspin]

Why not? They are the same people that own the media too. And big pharma, and the food industry, and the insurance companies, and the military industrial complex, and the telecommunications industry, and the bankers etc etc. they are all linked. They own everything. Including your so called democracy

[@ruby319able]

They are also paid to cover( up) stories.

[@SixOneNiner23]

It’s Trumps buddies and they run the media to soooooo

[@samstewart9249]

They are in on it! Get a clue! Ratings me profits are the news that matters to them. Haven't you paid attention to the crooked Murdochs?

[@robertgregory6693]

Every major net work has been compromised by the thirst for money. Greed is the capitalist way.

[@wlr1589]

This is happening in many different industries these days. Corporate greed is out of control.

[@marvinfrederick6363]

Fact

[@grayman618]

And one candidate for president wants to give additional corporate giveaways so he can continue to get more campaign money. Time for a tax hike on corporations and a decrease on the little guy.

[@marvinfrederick6363]

@@grayman618 fact

[@bonkgameing]

@@grayman618one thing I find very fascinating is that over the years, around 1960-1970ish corporations used to pay up to 90% in taxes. It’s been slashed down to about 35% these days, and trump wants to lower it even further. With the tax code filled with even more loopholes, how are we supposed to manage govt spending?

[@tagle2818]

They pay less in taxes and then rape us at the pump.

[@haska6007]

Thanks for exposing them like that. The old system needs to change, we cannot go longer like this. Disgusting how a handful of people sets the rest of the world up to chaos

[@denverspin]

But the people blindly follow, and fight between themselves. Left right blue red etc etc etc

[@luislora5796]

The government should sue them for price gouging

[@susiek2834]

Oh the corrupt government that has trillions it CANNOT account for? The government that has given billions to Ukraine. The government that is giving Billions to illegal immigrants while Americans struggle. Your being conned but hey Venezuela has an excellent socialist model or how about Cuba, or Honduras. Oh wait they all fighting to come HERE.

[@BillyTurner-vb3hf]

The government is in on it

[@vickimcburney8977]

Americans should sue them! They could pay every single American a BILLION dollars and still have hundreds of billions!

[@liamsdad33]

@@luislora5796 You don't think the US government is just as corrupt

[@trevenirey2354]

Are there laws against that? If not, they can't sue

[@jon1913]

Lina Khan is probably the greatest advocate for consumers in the country right now. Brace yourself for a bunch of random internet bots coming in to bash her for going after their bosses.

[@0my]

High crude prices are good for both the environment and the natural gas market. Also, beep beep boop bot beep bop beep

[@jasonrod4523]

😂Unions make things cost more. Stop being soo stupid

[@DankoStojanovic]

Almost every time we hear good news Lina Khan is mentioned.

[@jon1913]

@@0my high crude oil does not benefit the environment. The demand curve for oil is largely inelastic and is not impacted by price fixing. So falsely inflating the price of oil just means more money going into the oil industry which means more money for lobbying, propaganda and disinformation.

[@0my]

@@jon1913 good point. I forgot about the inelastic part. Any environmental benefit wouldn't materialize for decades.

[@GtrPknMama]

Corporate greed must be slapped down and price gouging stopped!

[@BIGBADWOOD]

POOR PEOPLE DROOL RICH PEOPLE RULE !

[@craftman5632]

It's because the of Biden regulations and policies, oil companies have to pay a higher price to drill and refine because of the new Green Deal regulations. That extra money ain't coming out of their profits so they pass it on to us the consumer.

[@BIGBADWOOD]

@@craftman5632 POOR PEOPLE DROOL RICH PEOPLE RULE ! Biden regulations and policies have nothing to do with this video.... FOOL!🤣🤣🤣🤣🤣🤣🤣

[@thowl7065]

@@craftman5632 No new green deal has ever passed. Stop listening to the liars. Did you even watch this video? Are you unable to accept facts or what?

[@arieshellstormm9487]

Wow are you that blind to believe what lies trump and republicans tell you, there was no new green deal republicans did not allow it. ​@craftman5632

[@CubbyTech]

And we're still subsidizing the oil industry... Absolute insanity

[@arnoldjohnson3317]

How are we subsidizing oil companies. I sure would be like to know. It’s sure not the depletion allowance. I have mineral ownership and paid money for them on my farm it’s depreciation just like any other business.

[@5353Jumper]

From a recent Forbes article - this is the recent Biden subsidy plan for the oil industry, which the Republicans criticize as not enough. Republican administrations tend to increase these amounts. "In the U.S., the fossil fuel industry collected $757 billion of incentives in 2023, from preferential oil and gas lease and royalty rates, specialty tax preferences, research and development aid, loan guarantees, and tax incentives..."

[@levmoses742]

💯%!!!!

[@jensonee]

@@arnoldjohnson3317 Historically, subsidies granted to the fossil fuel industry were designed to lower the cost of fossil fuel production and incentivize new domestic energy sources. Today, U.S. taxpayer dollars continue to fund many fossil fuel subsidies that are outdated, but remain embedded within the tax code.

[@CRneu]

We also subsidize beef while they routinely destroy water, pollute enmasse, and brainwash people into overeating beef until they have a heart attack. We subsidize everything that's bad for us. There are hundreds of lawsuits right now against beef/dairy operations for destroying groundwater, drinking water, waterways, reservoirs/lakes, etc, just in the US alone.

[@ThatGuy-xg5hj]

Corporate corruption is a real danger in the United States!

[@dannyhudson9659]

It's out of control greed has taken over buy big corporations not president fault

[@robedmund9948]

So are the Biden energy policies.

[@iamfromthegov]

the real corruption is the gov't passing laws and stopping oil production, mandating electric vehicles

[@GregALang]

Indeed it is. All the regulations that were put in place in the 90s to stop monopolies, promote competition, and keep prices down have been steadily wiped away by the federal government starting in 2000. Now the Oil industry, the food packaging companies, and our financial institutions have consolidated under just a few companies and lending institutions to dictate prices and control supply. They are steadily letting their greed drive our population into poverty. The fact that 38 republican senators signed this letter to get the FTC to back off their investigation is very telling.

[@MrBreeze66]

False, government corruption is the real danger. They make all the rules, want to have all the guns and control all the money! That’s why nationalized socialism and Marxism is so dangerous! We can manage with corrupt individuals easier than corrupt government!

[@maryannbray3305]

Don’t ever get rid this beneficial lady . She is for our people of America. We need her badly in our government !!!

[@JacksonHoulihan]

Now I understand why they want to get rid of Lina Kahn, she’s actually doing a great job.

[@onomatopoeia162003]

yup

[@RubenCali23]

Yes; that's because they want to deregulate more and she would hold them accountable.

[@Smedley1947]

Project 2025 is nothing but a plan to turn the country over to corporations. Now you understand why they need to fire all of the bureaucrats who know what they're doing to replace them with Toadies from the many Industries who are loyal to Donald Trump. This is just like communism with everything being handed to the party of the rich.

[@waris4thewealthy549]

It's amazing...they are making billions and they still want more...it's truly a sickness.🤨

[@shenmisheshou7002]

The state and the us government make more off of a gallon of gas than the oil companies do. State taxes average about 32 cents per gallon, and the US adds 18.3 cents per gallon for a total of about 50 cents, while oil companies make about 30 cents per gallon.

[@user-uc9ot7ur7l]

WHEN SOMEONE CAN REALIZE THAT PROPAGANDA IS A NAFARIOSLY CREATED AGENDA !! TRUTH MATTERS !!?? WAIT UNTIL IRAN CLOSES THE STRAITS OF HORMUZ !!! BRIC!!! #2 PIPE LINE ?? GERMANY ?? STOP THE USE OF THE AMERICAN DOLLAR AS A WEAPON!!!

[@Smedley1947]

When they have triple the profits does your little scenario actually hold true?

[@waris4thewealthy549]

@@Smedley1947 🎯....The pump is not the only place oil and gas companies profit, it's just their fastest form of increasing daily revenue by the minute if not seconds...Petroleum products are in almost everything...🤨

[@kendallschneider3337]

​@@shenmisheshou7002 and the government spends their money on infrastructure and other energy sources to protect our environment like they're drinking water and the area you breathe not stuffing their pockets like big corporations.

[@sharonrichardson4581]

If they get any "FINES" They will just pass that cost on to the consumer's!! They need to go straight to jail period!!!!!!!

[@wingman416]

The Saudis cut production by 1.5 million barrels a day recently. Why is MBS doing this. It costs them money? But someone in America is "owned" by MBS, he said it himself. His name is Trumps son in law. If tRump gets back in the White House because people are pissed about the cost of gas, look at who stands to gain from high gas prices and why they are artificially high.

[@evilroyslade2491]

You got that right, no more fines, just prison time. IMO

[@alanmiyagishima7612]

This is been happening for so long and all and everyone Involved has made all their money and he’s not willing to give up all that they made. It’s just the way the American corporations are about greed and making money off the American people.

[@Barbara-jn2gw]

Exactly

[@Steve-O_FPV]

Better yet, shut them down.

[@eperez419]

I want a in on the lawsuit. Americans deserve a huge settlement!

[@mgreg8134]

Just remember when businesses or corporations call for fewer regulations or oversight it means they want to improve their profit margin.

[@catherineromero1862]

Project 2025 would make all civil servants political appointees instead of industry experts. Imagine FTC, EPA, FCC,FBI, IRS, DOJ…. All political appointees

[@BIGBADWOOD]

POOR PEOPLE DROOL RICH PEOPLE RULE !

[@vomitkermit3446]

It will also violate the establishment clause of the first amendment. But who cares right? Because Jesus.

[@logicrealitytruth]

“The horrors! The horrors.” (From the movie, “Apocalypse Now”)

[@user-zq3iz3zn5m]

Aren't all the alphabet salavering to just put forth the truth back now and forever Tobe. Politcal opoints

[@user-zq3iz3zn5m]

Have you ever voted for any of these positons.

[@RedneckandPinay]

It’s a shame that mainstream media will not tell this truth.

[@skankhunt3624]

Should really call it by its true name, corporate media, and they won't because all of their CEOs are Trump donors.

[@Alber6959]

They won't tell the truth because they are bought

[@sleepydoppy8516]

@RedneckandPinay Republicans have done this to us not the left. Learn who is doing what before you post

[@1ntwndrboy198]

They own them😮

[@victoriastars6172]

It’s corporate media and they are talking heads for their corporations

[@kevinducharme1263]

Canadian here. I didn't even have to watch the whole thing to know that this is true. the oil companies ALWAYS have an excuse to raise the price but can't seem to find a reason to lower it.

[@mitchelpinion1852]

Prices go up AND down daily

[@kevinducharme1263]

@@mitchelpinion1852 if you're referring to oil, yes I am aware of that. the price of gas, however (where I live) goes up and stays there for a while, then at some point it goes up again and stays there. very rarely will it come down. one trick the oil companies use is to say that the oil in the system has to make it's way down stream until the next price reset. I should have clarified my reference to raising the price of gas, as opposed to oil.

[@mitchelpinion1852]

@@kevinducharme1263 Gasoline prices go up and down all the time. The long term trend is up, just like everything else. Inflation is a government policy, not an oil company policy. Of course oil companies want to make all the money they can, that's called free enterprise. I am 76, and, proportional to other prices, gasoline doesn't seem any more expensive to me than it was when I was 20. The best protection against too high of prices is to prevent monopolies, reduce demand and increase supply. Things like price controls are proven to reduce supply and cause shortages. Of course there is one big semi-monopolistic player in oil - OPEC. Our government has no control over them and no real control over the international price of oil OR gasoline. With the introduction of fracking and increased U.S. production (which the Democratic party has done its best to resist), the power of OPEC has been significantly reduced. The government can, and should prevent domestic monopolies and price fixing. The executive branch just needs to do it's job in that area. But biggest determination of prices is international supply and demand.

[@frankpedigo6261]

Many years ago I worked for a CEO of an oil company. This was during the oil shortage in the 70s . I saw paperwork on his desk that showed at what price the shortage would end . As soon as it hit that price there was plenty of oil available.

[@user-zq3iz3zn5m]

And?????

[@skovol007]

@@user-zq3iz3zn5m They're saying that there was no shortage.

[@DistrustHumanz]

This isn't limited to gas prices. Every major industry with different companies now collude to increase prices at the same time. And I mean every... single...one.

[@ithmiths]

Added to shrinkflation and just pure monopolistic subsidiarys and its about time for a 2A movement

[@mr.giggles4995]

Conspire... and they all use McKinsey and their software to do so.

[@personnesenki4521]

We should elect a president who has experience in keeping prices reasonable.

[@jamesrisse2173]

@@personnesenki4521 uh... and one that doesn't accept corporate donations. Who is that again?

[@personnesenki4521]

@@jamesrisse2173 They all do.

[@Craxin01]

Greed destroys everything.

[@martinmckay2889]

You spelled crony capitalism wrong

[@Craxin01]

@@martinmckay2889 Heh. Well, what drives crony capitalism?

[@martinmckay2889]

@@Craxin01 yep

[@dannyfreeman1113]

We need to find a way to go after these oil companies!

[@TheHonda6211]

38 Republicans senators. This is the type of stuff that makes it difficult to be patriotic. This level of corruption is just ridiculous.

[@0my]

Uhhh, wut? Democrats are just as bad

[@jasonrod4523]

😂 plenty of democrats to. But unions are experts at propaganda so they obviously got you good.

[@ithmiths]

And its in litteraly every single market at an average market saturation of 80%+ its all seals ALL THE WAY DOWN

[@0my]

Your bias is blinding, but I can't say why because this channel deletes comments

[@drd7525]

​@user-iy1vo2jf2q The video

[@angelmujahid2233]

Khan is the best FTC Chair I have ever seen. The things she is doing are finally in interest of consumers something I never thought would happen.

[@barryulrich2170]

This is the same problem with all products. Eliminating the competition by becoming the competition squeezing every last dime out of those that need your product to survive.

[@travisholly3797]

I'm glad this video was put out, now we can stop blaming presidents for high gas prices because they have no control on gas prices it's all GREED.

[@guscurcio7832]

There’s 346million people in the USA of that there’s 131million households. Adding 200b$ in cost to gas cost each household at least 1500$ extra a year. These criminals need to be put in prison. And when I say criminals I mean the ceos and the politicians. When is enough enough

[@denverspin]

When their pockets are full, and the people are fighting each other. I hear you!

[@JonStark117]

*You know what happens when these greedy corporations raise the prices of gas for extreme profit? They raise the cost of literally EVERY OTHER PRODUCT AND GOOD. Everyone is so quick to blame one party over another for these prices…when it’s really the heirarchy of oil tycoons causing all of us harm.🤦🏼‍♂️*

[@HandyMan657]

It's not just the oil industry, all industries are keeping prices high and blaming inflation damn well knowing they're doing it.

[@strawdemindset]

Because the narrative has been successfully changed to blame Biden and it’s working for people who don’t do research

[@sevensages5279]

Look up the egg 🥚🥚🥚 price-fixing scandal!!! It appears nearly every business is going all in on corruption!!! 🫣🫣🫣

[@cartoonraccoon2078]

...and each time someone blames the president, they are doing their work for them for free.

[@denverspin]

Record profits. Transfer of wealth. Allowed to happen by your representatives, who also gain from these prices. They do not work or speak for you. Your democracy is an illusion.

[@mitchellmerrill8459]

Thanks. I have been trying to explain this to people for years.

[@AuxiliaryPanther]

Im pissed at those Republicans who tried to block this FTC action.

[@shadowspark220]

Outraged? You bet. Surprised? Nope.

[@angiebear8727]

Not surprised at all. These prices are part of their reelection platforms. Republicans want this and I’d be surprised if they are not only blocking the FTC but also have a deal with these companies.

[@benjaminbingaman1848]

As if there’s any difference between Democrats and Republicans anymore.

[@ronaldviens7862]

They're all accessories before, during and after the fact. Investors.

[@Mikgwerd]

Don't forget the same "reeee! all Biden's fault!" brigade that will happily vote those Repukes back into office.

[@rayray9571]

Put them all in jail.

[@ericw1261]

Straight to jail

[@aaronbrumgard7285]

They own the jail too 😔

[@Bill-cb4bh]

I rather other punishments

[@stevenj7673]

Let's start with the senators that wrote the letters and work our way out from there!

[@proudhavenot]

It seems to me that greed is a mental illness and we need to call it out as such.

[@nealsidor1323]

Not at all surprised... VOTE🔵'24 🇺🇸

[@aabrightlove]

You didn't know this already? Yeahhh this is happening in literally every sector of the economy

[@Rodzillaone]

A lot of things in our country should be regulated, all these corporations are at an all time greed high! The working men & women are paying for their extreme luxuries!!

[@keamort9974]

We need a new anti trust act and the will to enforce it.

[@RiverratGoRVing]

Gas Companies are the ones who Control Gas Prices not the Government.

[@marvelouslife1309]

It's actually OPEC that controls gas and oil prices. They're the ones controlling energy prices.

[@Mags120fish1]

Exactly. Tell that to the cult party.

[@Alps-e3h]

False both government and oil companies! In california they tax 60cents not only at the pump but also at the refrinment process ! This was all done by the SF coalition on the war for clean air ! Here is the catch you still need oil lol And guess who gets hurt by this the most it’s poor and working class people ! Don’t you just love those blue self righteous people from the city lol All newsom has to do is get ride of 30 cents total in taxes (both refrinement + pump ) and that would drastically reduce the cost of gas ! You still have 90 cents of tax which is more than plenty to get things done with in the state ! But yall can’t critically think this far because of your loyalty to your party and your lack of intellectual composure!!!

[@58nomad]

It's part of gougeflation. We are being gouged.

[@WALLYDRAG502]

No shit... have you seen taco bell recently? Lol An .89 chkn burrito now costs $8.99 10x increase....

[@58nomad]

@WALLYDRAG502 Trickle down fuel costs. The gouging of fuel costs are hurting all of us. The big oil companies just got caught colluding to keep prices high because they are greedy and they are trying to keep the shareholders and investors happy. Big oil is screwing us.

[@denverspin]

It’s called a transfer of wealth.

[@Linkous12]

What's sad is that a lot of those people unhappy with gas pricing think government regulation is a bad thing.

[@HH-le1vi]

Regulation doesn't do anything. The government is terrible at keeping things under control. They can't even control them and their spending.

[@wasd____]

@@HH-le1vi Found the corporate shill

[@myleslong5584]

@@HH-le1vi To get into deep discussion about this would be beyond my knowledge on the subject. But,on the surface,it’s easy to see that too much DE-REGULATION can attribute to contaminated water,soil and air. Not to mention horrible accidents,such as the train derailment in E. Palestine,Ohio. Yes,it would be great to enforce penalties to where they actually carry some weight. But,better to have SOME regulation than none,though.

[@HH-le1vi]

@@wasd____ found the person who doesn't understand what a shit bag the government is at anything.

[@robertthweatt1900]

They actually think regulation is the CAUSE. That's what they're told.

[@allenchurch2870]

America needs a class action lawsuit to recoup some of our money!!!!!! I'm certain all Americans know and have known that gas prices are fixed.

[@davidbrakefield188]

The lawyers get all of the money so what's the use putting more money in the crooks pockets.

[@jacobcarlson4010]

Yes, it’s well known that the prices of gas is fixed; the problem is that a non-trivial amount of people believe that the price fixing is purely done by the government, even when confronted with unimpeachable evidence to the contrary.

[@runed0s86]

If we sue the gas companies, they'll just raise gas prices to pay the lawsuit...

[@john2g1]

@@davidbrakefield188 that's not entirely true. Citizens can lobby the US government or the US government Can voluntarily choose to sue on behalf of the American people greatly increasing the portion of the settlement that goes to US citizens. All that said the government has a poor record of settling for a much smaller amount of money than what a for-profit law firm would have received. Regardless of which someone else is going to benefit too much is not a reason to not do a thing that needs to be done.

[@john2g1]

@@runed0s86 again that's not really true. If the US government sues on behalf of the American people part of the settlement will include fuel companies not increasing prices to pay for the settlement of their collusion to increase prices.

[@larryfinley9221]

I stopped buying it 5 years ago when I bought an EV. So far, I’ve saved $12,000 in fuel costs. Join the revolution!

[@FoxEmblem01]

Was it a Tesla? If it's a Tesla I literally won't be able to get one due to how expensive they are

[@markfrank5937]

The fact that they report incredible profits, tells us it's price gauging. The fact that it's going on tells us government is allowing it to happen.

[@thowl7065]

The democrats put a price gouging bill on the floor of the house. No republicans would vote for it because they are paid by these corporations.

[@Kai-zm3ix]

My question is what can we the people do? It's so easy to be helpless and complain, but what can we do as the workers of the world to make change?

[@levmoses742]

That’s the question. I’ve been watching this for decades. Prices go down around thanks giving then go up right after new years so that people have more money to spend on gifts and travel. School ends, prices drop (a tiny bit) so may people travel. Same investors in hotels and resorts, also invested in oil. Most of us don’t even know we’re being played. And I guess knowing vs not knowing makes me at least feel sane!! 😅

[@josephcarreon2341]

This specific monopoly can only do what it does because of people's reliance on cars. So a simple solution is to fight for less reliance on cars. You can go to your local city commission meetings and fight for less car-centric infrastructure. Odds are there are many roads/areas in your city that the planning department is looking at repairing/improving. Pushing for road diets where needed is crucial. I don't believe there is any other way that isn't full blown barbaric riots.

[@sleepydoppy8516]

@@Kai-zm3ix vote blue. Get maga out of the United States.

[@stevendurante3485]

Get an electric car!!!

[@monaweir5814]

Getting an electric car is not the answer. They cost to much. Nobody can afford to get a charger instslled in their home. And if you have more then one car , you have to have more then one charget. It cost more and takes more resources to make electric cars. Thats not an option at all. But good public trasportation is. Trains are another good idea. Other countrys have trains and it works out well for them. Im tired of listening to this same old arguement, but as long as there are billionaires that refuse to help the average person we will never ever get anything that will help us. They make cars that suck down fuel on purpose and every old over the hill in a midlife crisis man has to have a huge gas guzzling truck to drive to the damn store. So nothing will ever change for the better in this country. The billionaires who run this country won't let that happen.

[@andrewrichmond8937]

Remember the phrase Too big to fail Yes. Oligarchs & monopolies

[@BreakingGaia]

And then remember how much YOU as an individual received during the great recession even though you pay taxes, too. And then let's look at how much those forgiven PPP loans were compared to the pennies everyone else received.

[@kjjennings3814]

God! The greed in the world is unreal! The sellouts in our Country is devastating!

[@SomethingVISCID]

END ALL FOSSIL FUEL SUBSIDIES! NOW!

[@DgurlSunshine]

END POLLUTERS NGO FRAUD

[@francismarion6400]

That would increase the cost of electricity.

[@bartelgrant]

@@francismarion6400 for a time yes. and only if you don't subsidise other sources of energy. but a step-wise reduction of subsidies for fossil fuel would immediately create an enormous pressure on the energy market to find other forms to generate revenue and open up possibilities for renewables to emerge.

[@TheRealSykx]

​@@francismarion6400 take those subsidies and use them to subsidize electricity for families and small businesses, any leftover can go to renewable expansion and efficiency or maintenance.

[@francismarion6400]

@@TheRealSykx Just remove the taxes from fuel. That would help families and small businesses immediately.

[@frankdidonato9718]

Of course it's price gouging and greed plain and simple

[@happylistener4628]

It’s all corporate greedynomics.

[@maximemeis2867]

Your level of entitlement is plain and simple.

[@frankdidonato9718]

@@maximemeis2867 so is your level of stupidity

[@practicaliching2311]

Net profit margins at US oil refineries are running (-0.01%) right now. They are not gouging anybody. These companies are run by conservatives. If you want to see real gouging, you have to look at liberal run co.panies like google at 25.9% net profit margins.

[@notHere132]

@@maximemeis2867 Come back with an actual argument or facts, plain and simple

[@olencone4005]

After record low profits in 2020, it was of zero surprise whatsoever when prices skyrocketed as soon as the pandemic was over, for whatever reason was convenient. None of these companies ever had any intention of just writing off those losses, not when they had the power to recoup them at our expense.

[@richardbaker7150]

Refineries Should be owned by American

[@JohnEButton]

It's happening in plain sight...ridiculous

[@Monkehrawrrr]

In China they jail people for corruption... while here we say you can't join the board for a while lol

[@wholeNwon]

Exactly. And our tax dollars still go to these thieves. The Congress WE ELECT is for SALE.

[@HoustonRacewayKid]

And “We THE PEOPLE” aren’t doing anything about it…..

[@jasonrod4523]

Unions playing you like a bitch? They just got a 12% increase in pay for 30,000 workers. And yes Unions get a cut. So enjoy they higher prices Unions have ever in world history made things cost less. And when they spend workers paychecks for dumbass videos like this it's because they want more money. From you

[@jtjones4081]

Everyone here seems shocked that a CEO’s 1st allegiance is to his shareholders. Weird. “I pledge allegiance to my shareholders for I know they’ll fire me if I put anything before them, country included.” That’s not a knock on CEOs, it’s just their job description.

[@rob0tscience]

Nationalize the oil industry. Seems to be working well for Norway.

[@DgurlSunshine]

WATER FIRST

[@dominicfucinari1942]

If I knew for sure that the oil supply had gone post-scarcity, I'd fully agree.

[@wholeNwon]

@@dominicfucinari1942 We are the largest EXPORTER of refined products in the world. Those products are made from OUR oil.

[@viktorflaks8754]

Gas prices in Norway are always sufficiently greater than in USA.

[@greenpickle9606]

Ya, super tight immigration there too.

[@philsiow9820]

I've been saying that all along. Big oil has been gouging us at the pumps. Fuel prices go up, everything else goes up at the stores. Gas prices drop a little. But, the the prices at the store stay up.

[@topperman4541]

They also buy up all the drilling leases than set on them, keeping anyone else from drilling and putting the crude on the market. All to keep prices high.

[@marvinfrederick6363]

@@topperman4541 yes Then people like to blame the president saying he stoped the drilling but it was the oil and gas people doing the stoping

[@dknowles60]

nice lie

[@MichaelLloydMobile]

Of course it was Republican legislators working with the oil companies.

[@denverspin]

The blues take oil money too. They are both corrupt. It’s a show they perform. Your democracy is an illusion. They are bought and paid for.

[@Diane-xh7vl]

This is called "greed"

[@denverspin]

This is called a transfer of wealth, and a collapse of our civilization and environment. This is called capitalism on steroids. Out of control capitalism.

[@evolv.e]

Well these gas stations haven’t got a cent from me in over ten years. Switched to a 100% EV and haven’t paid any attention to gas prices since. ⛽️👎🏼🚫

[@franklinpatterson3693]

Me too.

[@TihetrisWeathersby]

The problem with Capitalism is it's all about Capital and nothing else

[@techcafe0]

i think we're in the late stages of capitalism, where it no longer serves us (if it ever did), we serve it

[@hugh261]

The obsession to hoard more and more assets is a mental health condition that capitalism rewards, at the expense of those hoarded from. Get clear around this phemomenon and make different choices, or shut up and bend over, and don't whimper.

[@WeaselKonig]

that's the ism

[@AnonymousAnarchist2]

Thats not even a controversial statement anymore. The W.T.O., the fricken international union of capitalists; agrees. I mean, they want the capitalism to continue, but the metrics to change. In some mysterious manner that will likely make less sense. But they agree. And when they agree capitalism has became too much about capital; then its just embarrasing and backwards to disagree.

[@sprockkets]

My favorite part is when everyone starts whining to the gov to do something about it, when all they can do is just manipulate the market with their own stash of crude, or try to suck up to the Saudis. And then when gas goes down they start buying big ass trucks again.

[@fadenmac8092]

Same thing happened after Hurricane Katrina; record prices, record profits

[@Wishes890]

Diaper Donny lowered corporate taxes from 35% to 21%, yet prices have INCREASED dramatically. Why?

[@fdjt241]

Gouging

[@JuanMartinez-do5lg]

Mo money

[@tyflesh]

I've always said the right has there hands tried to big energy!! And this is the reason they continue to give them gigantic tax breaks, because they not only get large donations but they are big investor as well, in return they profit large amounts as shareholders of these energy companies leaving them extremely wealthy beyond comprehension and they in return also benefit with extreme tax breaks!! The real question is what are they going to do about it!! This b.s. five year removal from the board does nothing to stop this greed!! He's still tied in and can make moves at will as he has always done!! You find out the truth about big energy drilling it's own people for profit and still nothing happens... I tell you what as much as I've been against EV vehicles... Choosing an alternative vehicle might just be the only way to nip these bastard right where it hurts them the most!!!

[@mitchelpinion1852]

Excess government spending and too low interest rates.

[@JuanMartinez-do5lg]

@@Wishes890 big oil is making to much money . They have the ability to lower prices but won’t. We need it so we will pay for it.

[@JHD-Gaming]

This should be talked about more and brought to light.

[@kurboat64]

Seems to me there needs to be a serious investigation and someone needs to go to jail over this we as a people need to demand this now!!

[@Vermonster23]

It’s a lot more than gas and oil folks…

[@yelyab1]

I’m afraid to ask, “what else?”. I gotta believe that since defense is the #1 or #2 budget item it’s part of the “what else”. Our buddy Dick Cheney is in the middle of that making money hand over fist.

[@hannah9418]

So what now? This is ridiculous. People need to revolt.

[@denverspin]

Buy a bicycle and grow your own food. Take care of your family and friends.

[@gothic_ace2037]

Car pooling? Less cars used less gas used

[@workphone4210]

ITS CALLED CORPERATE GREED. SAME WITH EVERYTHING THAT HAS ACTUALLY WENT UP 50 TO 100 %. ALL CORPERATE GREED!!!

[@ryanpagan1032]

It should be illegal to speculate commodities, but no one ever talks about that

[@psingh1488]

Profiteering plain and simple.

[@diskographi]

“You don’t need a formal conspiracy when interests converge” - George Carlin

[@Gidono]

Even if you do get US oil companies to stop colluding, OPEC will just cut or raise production on their end to set the price of oil.

[@topgrain]

The sugar industry is under investigation now for price-fixing. It's the same thing. The biggest companies colluding to make sure retail prices keep rising, regardless of what the "market" says.

[@joshuarwatson]

The other part they forgot to add to this was taxes. We pay so much in taxes at the pump.

[@kenethkuhn8558]

Government needs to take control over our oil companies for the safety of American economy

[@liamsdad33]

Have you looked at a gas pump while you use it? You pay more in taxes than you do for the gas the government ain't doing shit for you

[@martyh4777]

Watch groups and means to investigate corruption, other crimes, and hold them accountable, YES. Full control, NO, as that is non-democratic.

[@kensweetser6901]

The government needs to stay out of our lives and stay the hell out of others countries

[@liamsdad33]

@@kensweetser6901 Seriously! These people are begging to be controlled it's nuts

[@nataliomendez9942]

Amazing how many of us are arguing amongst ourselves when this is exactly what got us here in the first place. Being divided is how they want us and got us💯

[@Thoringer]

How is that a bombshell? They literally created OPEC to do that.

[@philjustphil6444]

Good job MPU. Telling the story that nobody else dares to tell.

[@dantex2168]

Hearing a head of the FTC discussing real action theyre taking against injustice against americans feels like finding a unicorn. Biden's "lesser evil" is sure looking fucking good to me

[@OgdenM]

Don't be fooled. Biden isn't the lesser evil. He is just the good cop. Trump and Biden both work for the same people. They just get paid in different ways. Biden's payments are more behind the scenes then Trump directly asking for money. Like seriously, say the oil barrons DID donate to Trump's campaign, I'm sure whatever amount they donate is going to be the SAME amount of money they end up being fined if the FTC actually pegs them with anything. And all the fine money just goes into the pockets of the goverment and never really helps the general public. Ergo, the head of the FTC, Biden and tons of other people are gonna get rich off of the fines. Or it goes into Trump's pockets. There is only one coin. If one side is corrupt so is the other. Or, if there is only a few pieces of bread in that have visible mold, there 100% is mold in REST of the bread and the whole thing should be thrown out.

[@mr.giggles4995]

15,000 dead children...

[@dooder126]

@@mr.giggles4995wat?

[@Blackatchaproduction]

Lesser of what evil exactly? Dude just passed a bill to send more money to Ukraine so...

[@Gakulon]

Imagine just how much better it would be if we voted for the not evil ones

[@Owl350]

REPEALING CITIZENS UNITED would help a lot ,getting the government to do something else !!!

[@cletomartinez895]

Thank you for exposing those white-collar criminals

[@anthonyveltri2994]

i worked in the oil industry for about a decade and say unequivocally there is price fixing. They will temporarily shut down refineries on purpose for "maintenance" limiting the amount of crude they can produce keeping the amount ready for sale low driving up the price.

[@stevengarman4848]

This is why ALL natural resources in a country should be nationalized for the people of the nation.

[@larrydysondev]

lol they'll scream socialism and make it all political. socialism: the means of production are controlled by the people

[@mitchelpinion1852]

Stupidest comment ever. So seize land owners mineral rights? Seize investors money? Or would you pay for what you are nationalizing? If so how? Borrow more money? Look at our current national debt as an illustration of government management. You think the government would do a better job of meeting customer needs than corporations? Nationalization is a ticket to gross mismanagement and corruption. Mexico's national oil company? Venezuela's oil production? Any communist country that owns or has owned all the natural resources and industry? I guess you could cite Saudi Arabia. I am sure there is no corruption there. If it weren't for private enterprise there would be no oil fields or production to nationalize, either here or in other countries where the government now controls oil production and sales.

[@andyderby150]

I consider myself as average IQ but as soon as gas prices suddenly shot up overnight I told my wife that they are going to create inflation it starts with a spike in fuel as vehicles transport everything, most large corporations jump right on board and start price gouging, there’s no shortages of most foods or anything we use daily I am convinced inflation is a made up term driven by greed and depends on which party is in office and they do not care which voters get shafted as they put the blame on the administration that’s in office a lot of corporations are showing record profits?? At our expense which lowers quality of life for the whole country.

[@BIBIWCICC]

Same is happening in the UK but non of the normal media want to cover the story.

[@moonshoes11]

Imagine my complete lack of surprise.

[@LEEMAN-X]

People seem to forget gas was 7 dollars a gallon here in california back in 06. People always think whatever political party is in office controls gas and that's so not true. But it is amazing that whenever someone new is voted into office gas prices go down for a few months almost every single time.hmmmm

[@dknowles60]

and the Price of Gas was Cheap when Trump was in office

[@nalanl]

Gasoline should be reclassified as a utility.

[@DerSpielMann]

Even the gas stations set gas prices by consensus in towns and neighborhoods.

[@joecopeland4586]

Price fixing !!!!

[@stevensprouse2449]

They've been colluding for decades!

[@Jcat24]

The world needs more people like FTC commissioner Lina Khan in my opinion

[@myleslong5584]

The FTC needs more people like her. And the IRS. And the DOJ. And Congress. Shit,we just need more people like her in Washington,period.

[@sibly2224]

The flip side of this is that thousands of oilfield workers lost their jobs when prices tanked; they literally drilled themselves out of work. The answer lies in some sort of regulation to keep prices in a range that is fair to both consumers and the industry workers.

[@citizenenak]

Shocker. A deceptive corporation.

[@jasonrod4523]

The union. 30,000 oil workers are Unions. Enjoy

[@Novastar.SaberCombat]

Yup. Rich gotta rich. Poor gotta serve, suffer, and SUBMIT. 💪😎✌️