I did not say they have NO discretionary income.....they have LESS discretionary income. Because they are having to spend more on fuel in their vehicle, not to mention that fuel being up causes other products to increase as well.
This post was edited by my2cents at July 28, 2022 2:46 PM MDT
I used the profit charts for the major oil companies. Is it so surprising that pump fuel prices and increased profits are in lock-step? You are correct about the average consumer...the oil companies don't care. Only shareholders matter.
Why are these companies not entitled to make a profit? They are in business to make money, not to make your life easier. They don't operate in the nonprofit or public sectors. Would you want the companies whose stock you own to lower prices at the expense of your share value? I seriously doubt it.
This post was edited by Stu Spelling Bee at July 28, 2022 12:04 PM MDT
I was talking about the huge profit increases at the same time prices went up. Who benefits? The executives and the share holders. How does it affect me? I pay more, so they can make more. You are looking at it from the point of view as an accountant.You also assume I own shares.
But how do you know their profit margin increased relative to costs? And even if it did, and this is more of an economics view than an accounting one, why shouldn’t they try to maximize profit? That’s what prudent and rational players in any market do. Their jobs are to make money, not minimize retail price.
Yeah, I know. The point is much of electricity in produced by coal and natural gas. The thread we are on is off track. I can absorb the price anyway, we don't drive a lot.
Where do people think electricity comes from? Do they think that it just magically appears?
Over half of the electricity generated in the US comes from burning fossil fuels (mostly natural gas and coal). Electric cars sound good, but they still pollute (just not directly, so much).
Electric power doesn't have to be generated from coal powered generators. In British Columbia over 86% of our electricity is generated by hydro electric dams. There are also tidal electric power plants and wind farms. Cheers!
This post was edited by Nanoose at July 28, 2022 7:29 AM MDT
I hope those Nuclear reactors are CANDU reactors because they are less likely to melt down. Actually I never was a fan of Nuclear reactors but am starting to wonder if the new Small Modular Reactors might be the answer to clean and safe energy. Cheers!
BEVs are not, H2 fuel cells may well be. Coal is being phased out in many places as cheaper renewable energy supersedes it. The principle objection to battery electric is short range and long charging time. However, a hydrogen fuel cell can be refuelled in a matter of minutes, and the only emission is plain water. Transported as ammonia and cracked on site by solar power.
Electric utilities have raised their rates considerably over the past six months. The bill I got in April, before air conditioning season, was $30 more than my highest bill last August. If you're complaining about gas being $5 a gallon, imagine what it would cost you to recharge an electric car battery and it won't go as far as a car on a tank of gas.
Honey Dew 