Talk of The Villages Florida - View Single Post - Let’s revisit
Thread: Let’s revisit
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Old 06-08-2022, 12:14 PM
jimjamuser jimjamuser is offline
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Originally Posted by ithos View Post
Company 2020 net income (crude oil averaged $42)
Exxon Mobil Corp. -$22 billion
Shell Oil Co./Motiva Enterprises LLC $5 billion
Chevron Corp. -$6 billion
BP North America -$6 billion
ConocoPhillips/Phillips 66 -$3 billion
TOTAL -$32 billion

I wonder what the price of a gallon of gas would be if we introduced price controls so that there was no profit left to explore and develop new oil sources.
Price controls have unintended consequences.