Funny thing is that the actual workers never really see a crumb of any benefit of gas prices going up. Since when did CEOs count as workers?

I remember that. A guy said it was bad for the local economy with low gas prices. I asked "so we should rely less on oil and gas?" And because he was conservative he had to back up

I don't remember anyone in the USA ever giving a shit about workers. All the complaints that I can recall were about falling stock prices!

I wish I had extra money to invest when oil stocks fell. I knew the gas company’s would want their money back X4.

Well that is the great wonder of the capitalistic system. Revenue goes up... you can keep your job but nothing else. Revenue goes down and you lose your job as well. It´s a lose lose situation if you are not already at the top.

Because taxes bad. Just look at the UN top 10 happiest nations in the world. Most are social democracies with high progressive taxation system.... /sarcasm

You mean the $0.08 we can save for a national tax holiday? That's the only answer your going to get, remember to vote blue for more 8 cent solutions to crippling inflation

I feel like a lot of people talk about this, maybe you just aren't broad enough in who you listen to?

@@marco12377 Not really, Americans both conservative and liberal are very car-brained. They rarely consider public transportation and changes to urban planning as solutions. Only leftists and some progressives put more importance on phasing out car travel when not necessary

@@sudovirus3285 Public transportation and urban planning are great ideas, I was more talking about getting off oil and investing more in wind and solar. I hear plenty of people talking about transitioning to clean energy.

Price is decided by supply and demand. When demand is constant, and supply is manipulated, you control the price. I get your point, but it's price that is the dependent variable, and supply that is the independent variable in this equation. Demand remains unaffected.

@@satolah Demand also gets manipulated through marketing and elimination of alternatives by monopolies.

@@baruchespinoza6703 there are multiple gas companies

@@Andy-km1xp Really? How many? 10? How long until they consolidate into a monopoly?

@@baruchespinoza6703 you could say there’s an oil oligopoly, but oil is oil, and I don’t see it becoming a monopoly

No one thinks he sets the prices directly. He ran on ending the fossil fuel industry and from day one in office he's made oil artificially scarce in America. The US was energy independent when Biden took office.

Its because each side wants to criticise the other side any chance they get

being skeptical is not a big brain move performing an investigation to get the right answers is

They don’t have direct effect on the price but completely ruling out their policies effect on oil prices is moronic as well. It’s clear on Policy joe isn’t helping prices whatsoever, and our current administration is being sued by Canada for not expanding.

honestly with the amount of their profits that come directly from government subsidies, im pretty sure we could legally seize most oil companies.

You can thank the motorist who killed the child son of the transport minister of the Netherlands. If a car didn't kill a cycling child who was the son of the transport minister, Stop the Child Murder (Stop de Kindermoort) wouldn't have succeeded in turning Netherlands into the cycling nation. The reason why you are the only cycling nation is because our transportat ministers didn't have tragedies in their families. That one dead child saved thousands of people who would have died because of car accidents.

Lucky, I am so sick of driving.

@@موسى_7 And the US is addicted to oil because fossilized turds run our government

@@موسى_7 utter nonsence

@@paulmitford5189 close enough to the truth. In the 50s we had a lot of child road-deaths. Cycling was introduced to stop this.

Well said.

OPEC is primarily made of Middle East countries. Price fixing is illegal in the US and has been for over 100 years. It's rarely investigated, but it's illegal. Also, workers (generally, there are a few exceptions) can strike and form unions, it's protected by the National Labor Relations Act of 1935. It's just that state laws like "right to work" laws (the ones that allow your employer to fire you at any time for any reason not specifically protected by law, and often without telling you why you were fired) make it really hard for employees to actually exercise their right to collective bargaining without being fired for "an untucked shirt" and not the actual reason of unionization.

@@angolin9352 so de facto companies can often form cartels so long as they're not tooo obvious about it, and de facto workers in many states can't form effective unions?

@@williamchamberlain2263 Basically yes, but details are important when it comes to policy because if you get the details wrong then the policies you fought so hard for are ineffective or counterproductive. Knowing the exact truth is the only way to push for effective change.

this is a very good comment thank you

Corporate greed will be the death of us all.

Actually, in this case their investors really did give them the $300B in cash and the oil companies lost it. Most of the losses were in the fracking industry, which turned out to only be economically viable when oil prices were quite high. This was the case when the investments were made, but then OPEC increased production which lowered the oil price. This was done specifically in order to drive the American oil frackers out of business. It's a classic case of the practice known as predatory pricing. The "bourgeoisie" as you call them genuinely lost $300B of their money. Not that I'll lose any sleep over that. If you want to accept the profits then you'll also have to accept the risk of losses.

Well said! I am also here to learn how to invest after listening to a lady on tv talk about the importance of investing and how she made 7 figure in 3 month, somehow the video taught me nothing and left me even more confused, I'm a newbie and I'm open to ideas on how to invest for retirement

@@rajeshupadhyay5683 lookup Priscilla Dearmin-Turner, this is her name online, she's the real investment prodigy since the crash and have help me recovered my loses

I agree. Even the supposedly liberal networks like ABC, NBC, CNN, etc. don't tell the truth about why gas prices have jumped. And the silly conservatives blame Biden for shutting down a single oil pipeline. I live in a red state and have geard this argument often. Republican: "Biden shut down ONE oil pipeline and now shit hit the fan!" Me: 🙄

That's, of course, only if people are receptive to the message.

@@GenerationX1984 Lol And cut back oil leases. And wants us to buy electric cars. And cut world supply with sanctions on Russia. And says the price will be high as long as it takes.

@@GenerationX1984 the funny thing is, that if that one oil pipeline, that transports oil on the American continent (from Canada to America I believe), than why are prices also so high here in Europe? Because according to Republicans, that pipeline, Biden shut down, which doesn't even run through Europe, and doesn't even transport oil to Europe, is the reason why oil prices are up here as well.

Yes, generally speaking it is a plutocracy, soon to be an oligarchy if the republiclans come back into power.

Just a shine light on this, what you're talking about is fascism.

ok commie@@ProleDaddy

Is it true that y'all's environmental record is relatively good compared to America, for instance? If that's true, is that because there's no profit motive?

I think extracting the Oil only produces like 10-20% the emissions of what actually using it for transport/power produces. So yes, I think Norway can claim to have low CO2 emissions themselves, as they largely don't use all that Oil they produce. Selling all that Oil to allow other countries to use Oil for longer and cheaper however is probably not as environmently friendly... But still a lot better than other countries that start crying for more Oil production whenever Oil prices get too high for them.

@@alexandererhard2516 Oh, if you were responding to me, I was asking more about the literal oil extraction, not emissions. I've heard that Norway's oil production is far safer in terms of oil spills/contamination/etc.

It's not a future, not as long as we can't mine the resource to make those, as we can't afford to import all the materials for those.

@@night6724 Wrong. China makes more solar panels than the world combined . The current wind turbine technology is mostly European, and Europe has more installed wind capacity. The US could do more if only the Republicans could shut up and accept the future. When China starts exporting wind technology to the US, same Republicans will complain about China stealing US jobs. But we're not now capitalizing on the opportunities we have here.

@@night6724 you're welcome to view the sources yourself

@@teeth-man looks like some comments were deleted here... Sus

''How AMERICAN-WESTERN oil companies are scamming you. Russian & Chinese oil companies are awesome'' Kravel Institute

That sounds like the saddest dance of all time

Clever 'bubbles' Aria?.... you have a pun, but what have you actually said?

@@9UaYXxB i mostly just wanted to leave a comment to help boost this video in the youtube recommendation algorithm. but i didnt actually have anything to say, and i had heard that just commenting "algorithm" doesnt actually contribute to a video getting boosted to prevent system-gaming. so instead i commented a pun on "algorithm"

Nationalizing oil is about the worst idea I have ever heard, if you thought big oil was bad get ready for government oil.

@@andrewgreeb916 It's literally the same thing though. The Oil Industry already owns the government through lobbying, so who cares if they switch the order of the names in front of the company?

There is one other that is possible but incredibly worrying is State control of the resource and production. It can give great things like France had with EDF and Nuclear power before the opening to free market. Or terrible things like Kadafi and oil control in the name of US corporation.

Biden and his policies have Purposefully effected the gas prices, by canceling drilling leases and limiting domestic production. halting federal permits for oil and gas drilling and leasing shortly after taking office. Also, he is blocking drilling in a major oil-rich Alaskan region. These decisions by Biden, and nobody else, affect FUTURE production, causing prices to rise in anticipation of lower supply. Expectations of increased future supply lowers the prices. Also, the EPA is imposing such choking regulations that companies can’t even get cleared to use existing wells. Everyone understands that if it costs more to grow wheat because of fertilizer prices that the cost of bread will go up. It’s the exact same thing. Also, just the presidents anti-fossil fuels rhetoric will cause higher prices but his words were followed by his ACTIONS. Canceling the Keystone XL pipeline, blocking leases, restricting imports, and pursuing regulations. His open hostility to the oil and gas sector DEFINITELY curbed investment that otherwise would have occurred. Less investment = less supply = higher $ $ $. The funniest part of this?? Biden was warned over and over that this would happen but went and did it anyway. Biden doesn’t care about the environment! He’s begging Saudi Arabia, Iran, Venezuela to produce MORE OIL.

The solar cells and windmills are made in China. Our grid cannot tolerate the huge amount of electricity. Being Green is naive, if not evil.

Yeah we should've stayed in the 1800s for sure.

The Lord works in mysterious ways, my friend

That Nike windbreaker was made with oil.

I find it tends tk be because of a combo of ignorance and fear of change. Older generations, like older than 50, grew up with radically different set of norms being pushed or what was important to the general public. The information they had was also different. Pair that with a majority of ppl being lacking emotional intellegence and critical thinkijg skills; thus seeing any sort if change as a dangerous terrible frightnening thing (and not knowing how to handle any sort of change or conflict heakthily). It's a simple yet complicated global issue that kinda doesnt have a start. Its already caused issues in a persons life because of their parents/guardians, who is effected by their parents/guardians, etc etc it just keeps going back.

Because they live in a Republican run oil producing state. For example, if you criticize big oil in Tusla, OK they might just stone you to death or burn you at the stake.

@@night6724 even so. Oil companies have a lot more money than solar companies. Cutting down the big boys and killing monopolies is important for a healthy, more competitive economy.

@@night6724 I don't believe they do. I think they mislead the public into thinking they invest in renewables. They would invest in renewables like the tobacco industry would invest in nicotine patches and gums.

you could always go back to the 1800s and join the amish.

On the other hand France appearently is also the only country that recycles nuclear waste.

@@KrolPawi Quoting from a Newsweek fact check article titled, "Can nuclear waste be recycled?" - "Countries such as China, Japan, and Russia are all currently using spent fuel to generate electricity, as well as several European countries, according to the WNA." I don't doubt that France is one of the "several European countries". But even if they were the only country in the world to do so, it wouldn't justify exploiting their neocolonies to get the Uranium in the first place.

That's what gets you bombed and embargoed

We need to do this, but with our politicians in the pockets of those who own the oil rigs it's highly unlikely to come to fruition.

Nah, stop drilling oil completely

Break up oil companies and more competition

@@kittycatwithinternetaccess2356 Why not? It will benefit the people.

@@kittycatwithinternetaccess2356 Nationalizing it would help more, because the price would be stable and not as high as it currently is in the US

@@kittycatwithinternetaccess2356 Really? Explain how

@@GaleLD The problem is job security as CEO would be nil unless profits continuously grow.

US has to compete for the gas other countries want. Those countries that buy from Russia are trying to outbid USA on the sources it is using, so that's why price rises in USA

We give oil away. Ask Joe...he just sold to the Chinese.

not to mention the fact the refineries were not built to handle the light crude that the US produces from the main shale plays. They were set up to based on the crude that was coming from overseas years and years ago.

Thank you. I think most Americans would agree if they knew all the benefits doing that would actually provide. Ralph Nader has been saying this for decades.

in pseudo capitalist (can call it that or consolidation capitalism because its not really capitalism in the pure sense) america, adequate sleep, food and hygiene are seen as luxuries reserved for the well off. this is why you see the well off constantly whining about the smell of poor people and disgusting classist behavior like that

👃🏻 *sniff* *sniff* 👃🏻 🔨 Smells like communism. 😱 ☎️ *Get’s Henry Kissinger on the phone* “Yeah, we’ve got another one on the KZfaq!”

What if you,have a really bad politician like Trump running the state owned business then it may go like in Venezuela or in Brazil.

@@thorsrensen3162 A bigger hazard would be a Margaret Thatcher who is deliberately sabotaging it for privatization's sake as seen with many aspects of British industry.

It’s almost as if we add millions of people a year and add more people using cars in general

@@peaceiskey3272 That's a fair point. However, is the percentage of today's markup relative to the percentage of new cars on the road? I think not.

The first American civil war was started over blood and cotton

@@MetatronsRevenge613 yes and this civil war was started over control of the nation.

Wait until you hear about electric trains. They don't need diesel or even rubber tires that are currently made from petroleum. Trams, light rail, metros etc. are all highly efficient, however they need good economies of scale to run, and so buses are more viable in most of low-density America. But what Americans fail to understand is that density itself is economical and they'd pay less in taxes if they had denser communities which could also be easily made oil independent with trains and bicycles. Especially now that electric bikes are getting pretty good.

But at what cost?

Or are they keeping it high because they know the American people of paycheck to paycheck cannot afford electric vehicles? Can they even afford new petrol vehicles? Oil execs are sneaky wolves.

@@موسى_7 People will invent or come up with new ways of traveling over using cars in general. A Electic car is a good goal for most but people will turn to public transport more and more as well as other forms of travel

The oilfield pays pretty good and local communities benefit quite a bit from the taxes companies pay.

They pay A LOT of money lobbying and what not to make it stay that way. Sucks, man.

@@MrMooAndMoonSquirrelToo Yeah. That got me thinking. What if we made a citizen lobby. Instead of wasting money trying to get good people elected (which barely happens and when it does even the good ones temper their goals once elected) let's pool our money together to bribe the politicians more than the corporations do. Bribe politicians to do the right thing.

@@zigfreidbop could be a good idea that might help a little. Sad thing is it wouldn’t matter how much we pool. They have enough money to throw more at it.

@@MrMooAndMoonSquirrelToo I think back to Michael Moore's Sicko and recall senators or congressmen being bought off by the medical industry lobbyists for like $20k - $40k or so... individually that is. It wouldn't take a lot of people (given we have over 250 million adults in this country) to beat that. Bernie ran a comparable campaign to the corporate supported candidates twice off of small donations. I really think it could be done (at least starting with the most important issues first, like say full Healthcare coverage for all).

@@zigfreidbop take a sec to look up the profits of oil companies versus the profits of the medical industry. Both are huge industries but the oil industry is SO much larger. I’m not saying it wouldn’t have an effect but I highly doubt we could out-fund them.

@@tilleryinnovations592 I must admit I dont have the time to use bike or bus myself but It would be good if other did it.

Oh the corporations never get blamed. The CEO sometimes gets a raise as a reward for losing the game. It's only a fair game if the rich can lose too. But they rarely do.

people love blaming corporations for government failures. See I can do it too.

No they aren't. There is not enough public transportation in america, people's jobs are too far away to walk (due to suburban sprawl), and bike infrastructure is ineffective. All raising gas prices does is make life harder for the average american and line the pockets of shareholders.

@@communistspectre1984 in the short term, yes. but in the long term it will spur investment in pedestrianism, public transport, and hybrids/evs

@@umangmalik Why would investors switch to investing in green energy stocks? As the video says, oil companies are making record profits due to price gouging. Investors want to make higher profits so they will keep their investment in oil as long as oil prices stay high. The oil lobby is also very well established, so they will still probably be able to get money from government subsidies even if people buy less oil. Also oil prices increased significantly in the 70s, but that didn't lead to any large changes in transportation. These high energy prices will also probably stop after the Russo-Ukranian war, or whenever sanctions on Russia are ended. Electric cars are also not a solution because they take so much energy and resources to manufacture. Have you watched the gravel institutes video on them?

@@communistspectre1984 you're still thinking in the short term. The transition to renewable energy is inevitable at this point because RE's marginal costs are lower. High oil prices right now are because the oil industry is anxious about investing millions into new drilling sites when the future of the industry is up in the air. This leads to high profits in the short/medium term, but in the long term it effectively means the oil industry is ceding the market to any alternative that is better able to meet demand.

Less oil*

Sounds like the Saudi oil barons are doing a poor job of following Islam then.

Love the concept

ever seen those rivers that are on fire because of fracking? lmao. humans are weird

@@saturationstation1446 Humans are weird and overly self destructive. I can live with my and other people's self destructive tendencies... for the most part. But when they light the rivers on fire and poison our soil I think we need to think twice. Just maybe hahaha but no I hadnt previously heard of that.