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this post was submitted on 01 Nov 2026
521 points (99.4% liked)
Fuck The USA
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You're thinking what I'm thinking: what the hell happened do those 18B?!
I assume what happened was costs went up $18B, but they charged an extra $130B because they knew they could get away with it.
That's why energy companies don't go green energy that much. There's not enough chances for greedflation.
Sure there is. My electric company is primarily remewables and somehow the rates just increased again! After doing the same thing for the last several years in a row! My electric bill is now nearly double what it was 6-7 years ago.
What they do is say “due to increased demand” (which doesn’t exist unless you count overproduction that goes to other places).
Lying is just good business, especially of it’s only a lie technically!
I pay for 100% renewable generation. Sometimes the supplier makes so much electricity that the price occasionally goes negative. The consumer will never see the benefits of that while the coal plant subsidies exist. 100% solar is priced the same as coal, since that is the competitor/alternative to get electricity (free market baby! What is a utility but a legalized monopoly anyway?), plus a subsidy to keep the coal plant in operation. Without the need to pay the subsidy, the pricing factors change, green energy is now competing against each other, instead of carrying the load of outdated, inefficient and toxic coal plants.
Yeah, they used to leverage the barriers to entry into the generation market (before solar and wind, when only those with lots of $$$ could set up power generation facilities because the most efficient ones were big and very expensive ) to extract more money from customers, now they leverage the barriers to entry into the distribution market as well as the dominant market position left over from those before times.
Theoretically the barriers to entry into the electricity distribution markets are lower hence with time more competition will arise, but that's dependent on the laws passed by politicians to liberalize that market and politicians nowadays are very corrupt and design laws to benefit those who "reciprocate" their "friendly" consideration for their interests (and the most common way of doing so without being obvious is literally to thinker with those law to have artificial barriers to entry in the market thus protecting the market dominance of existing big market players)
The classic oil price goes up, gas price shoots up the next day and slowly floats down over weeks gives in general a higher margin and that's what they're going for.
And then they release statements saying greedflation isn't real and that inflation is driven purely by consumer demand 🙄 please...
Probably it's the additional costs of having to ship some of the oil from further away and having to exploit more costly oil reserves (such as lower yield fracking oil reserves in the US).
Higher oil prices make alternative oil sources (fracking, tar sands) viable, but they weren't viable before with lower oil prices exactly because they're more costly.
Spent on the higher oil prices.
No I’m not because that would be pretty obvious… increased costs.
But, it’s also just a shittily written article.
Americans have paid $148B more during the measured period than last year.
Oil companies have made $130B in total profits over the same time period.
The critical bit left out is that last year they made $47B in profits over the same period. So, oil companies have made $83B more in profits than last year.
So Americans have paid $148B more while oil companies have made $83B more. The costs to the oil companies have increased by $65B.
Maybe they're investing in new gas price signs that can display another digit
First, the article is poorly written, making it difficult to understand what is being compared and the true magnitude of change.
This article isn't claiming Americans spent $148B in total. It says they paid $148B MORE during the eight months of the Iran War. The total amount spent by Americans during that period is substantially higher than $148B.
They then state the petroleum industry profited a total $130B between April and September, a six month period which omits two months of the Iran War.
I bet they were used to make transgender toilets! SO UNFAIR