Oil companies are price takers having little pricing power. They win through cost savings and good exploration or acquisition programs that allow them to produce oil for less per bbl than the marginal producer.
When the president of the USA starts wars with energy producers the marginal producer is more expensive as low cost (Russian) oil is removed from the market. POTUS is subsidizing oil companies now.
You are not well schooled in economics and this meme shows it. Try to contribute for once, eh?
Oil companies are price takers having little pricing power. They win through cost savings and good exploration or acquisition programs that allow them to produce oil for less per bbl *than the marginal producer.*
When the president of the USA starts wars with energy producers the marginal producer is more expensive as low cost (Russian) oil is removed from the market. POTUS is subsidizing oil companies now.
You are not well schooled in economics and this meme shows it. Try to contribute for once, eh?
(post is archived)