Reply to $7/gallon gas is coming

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][twitter]https://twitter.com/pewilliams_/status/1506654993633456137?s=21[/twitter][/quote]

Finally! Some actual data.[/quote]

What exactly do you think that chart is telling you?[/quote]

That oil prices are up as a direct result of increasing shareholder profits and the Russian invasion of Ukraine.

“The seven supermajors — including BP, Shell, ExxonMobil and Chevron — are poised to return $38bn to shareholders through buyback programmes this year, according to data from Bernstein Research. Investment bank RBC Capital Markets put the total figure higher, at $41bn.

That would be almost double the $21bn in buybacks completed in 2014 — when oil last traded above $100 a barrel — and the biggest total since 2008…..

…. Banks including Goldman Sachs expect Brent crude to trade at more than $100 this year, with some predicting that if Russia invades Ukraine it will trigger a sharper spike in energy costs.”

https://www.ft.com/content/2852b800-4a03-4cf6-a47f-65c306a22657
[/quote]

Thats...not what that chart says.[/quote]

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