Joe Blames Corporate Greed for His Inflation

[busybee01]

Biden's supporters are SO dumb, they believe corporations decided to get greedy in 2021. Think about the level of stupid that requires...see every post by busybee01 for examples.

You are the one who is stupid. CEOs have been bragging about the fact that they can raise prices.

 

[Dragonlady]

Joe: “Why don’t you tell them what Exxon’s profits were this year? This quarter? Exxon made more money than God this year,” he said in remarks at the Port of Los Angeles. “Exxon, start investing. Start paying your taxes.”

Exxon profit margin: 5.48%

Pretty standard for any business.

Effective income tax paid: 32.8%

Nice chunk.

Now the million dollar question:
WHY WASNT THERE CORPORATE GREED THE PAST FOUR DECADES?

Joe ‘The Buck Stops with Me’ Biden always blames everyone and everything except the one who’s to blame: Joe Biden the Liar.

ExxonMobil announces first-quarter 2022 results

IRVING, Texas – April 29, 2022 – Exxon Mobil Corporation today announced estimated first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. First-quarter results included an unfavorable identified item of $3.4 billion associated with our planned exit from Russia...

corporate.exxonmobil.com

There has always been corporate greed - ever since the Harvard Business School developed the notion of "bottom line management", in the 1970's. But Reagan and the Republican Party told you "Greed is good" for America.

The oil companies don't need the money. The people do.

 

[Smokin' OP]

Importing less than you export of anything means you’ve got a surplus.
Economics 101.

No shit, captain obvious.
A surplus doesn't mean "independent".
It just means you have a surplus.

As I stated earlier, a made-up term.

And we imported because companies have contracts.

Yes, they do, and they can alter the terms or not renew them at all.

March 3 2022
Some of the biggest U.S. importers of Russian crude oil have started suspending their purchases of the commodity, including Monroe Energy, which is the third-biggest U.S. buyer of Russian oil.

Bloomberg reports that Monroe Energy had stopped importing Russian oil "for the foreseeable future," while another importer, Par Pacific Holdings, would not enter into new purchase agreements but would receive already contracted volumes.

The biggest U.S. importer of Russian crude, Marathon Petroleum, declined to say whether it will continue buying Russian oil, the Bloomberg report said. Other large importers, including Valero Energy, Motiva Enterprises, Phillips 66, and PBF Energy also declined to comment.


The United States has so far resisted imposing direct sanctions on Russia's oil and gas industry, although it did announce it would halt exports of equipment and technology necessary for the operation of oil and gas wells and refineries.

So, when we were energy "independent", why were we still importing oil?

 

[BluesLegend]

Joe Biden, "Look into my eyes, I will END fossil fuels". Well gas topped $6 a gallon here and is still climbing. The poor and working class are reaping the rewards for voting for Biden and Dems climate change BS, enjoy!