Economics

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submitted 3 days ago by MicroWave to c/economics

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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.

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[–] Treczoks 17 points 3 days ago

It's not about lowering gas prices, it is about raising gas profits.

[–] kikutwo 6 points 3 days ago

The main reason is that they aren't high.