Economics

448 readers

25 users here now

founded 1 year ago

submitted 3 days ago by MicroWave to c/economics

2 comments fedilink hide all child comments

Summary

Despite Trump’s pledge to lower gas prices by increasing oil production, energy companies prioritize profitability over pumping more oil.

US oil and gas companies have excess capacity and are focused on managing resources efficiently.

Even if oil producers increase production, refiners have limited capacity to process shale oil into gasoline, potentially increasing prices.

you are viewing a single comment's thread
view the rest of the comments

[–] kikutwo 6 points 3 days ago

The main reason is that they aren't high.