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Americans Have Paid $148B Extra on Gas Amid Iran War. Big Oil Has Made $130B in Profits. (truthout.org)
submitted 16 hours ago by to c/FuckTheUSA@lemmy.ca
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I am not worth a future but this is...

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[–] 9 points 14 hours ago (8 children)

You're thinking what I'm thinking: what the hell happened do those 18B?!

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  • [–] 2 points 2 hours ago

    No I’m not because that would be pretty obvious… increased costs.

    But, it’s also just a shittily written article.

    Americans have paid $148B more during the measured period than last year.

    Oil companies have made $130B in total profits over the same time period.

    The critical bit left out is that last year they made $47B in profits over the same period. So, oil companies have made $83B more in profits than last year.

    So Americans have paid $148B more while oil companies have made $83B more. The costs to the oil companies have increased by $65B.

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  • [–] 14 points 13 hours ago (2 children)

    I assume what happened was costs went up $18B, but they charged an extra $130B because they knew they could get away with it.

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  • [–] 4 points 11 hours ago (1 child)

    That's why energy companies don't go green energy that much. There's not enough chances for greedflation.

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  • [–] 1 point 1 hour ago

    Sure there is. My electric company is primarily remewables and somehow the rates just increased again! After doing the same thing for the last several years in a row! My electric bill is now nearly double what it was 6-7 years ago.

    What they do is say “due to increased demand” (which doesn’t exist unless you count overproduction that goes to other places).

    Lying is just good business, especially of it’s only a lie technically!

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  • [–] 3 points 11 hours ago*

    First, the article is poorly written, making it difficult to understand what is being compared and the true magnitude of change.

    This article isn't claiming Americans spent $148B in total. It says they paid $148B MORE during the eight months of the Iran War. The total amount spent by Americans during that period is substantially higher than $148B.

    They then state the petroleum industry profited a total $130B between April and September, a six month period which omits two months of the Iran War.

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