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Apple Loses Position as World's Most Valuable Company to Oil Giant Aramco
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What oil companies are doing is akin to Apple raising the price of its iphone from 999 to 1699 in one year. but because per device cost is a glaring price gouging , oil is a commodity so its easier to fool people to price gouge with commodities and services
You need oil and gas to sell iPhones. You don't need iPhones to sell oil and gas.
Facts.
Everybody needs oil and gas. Nobody needs iPhones.
Facts.
Whether or not Apple's prices in this case are fair and reasonable may be up for debate but what you are describing wouldn't fit the typical definition of price gouging.
Price gouging is more about a company significantly raising prices to take advantage of a spike in demand often due to urgent/crisis situations. Examples could be a store raising prices of snow shovels and snow blowers following a major snow storm or raising prices of candles and flashlights following a power outage or raising prices of bottled water and other basic necessities following a hurricane, etc.
I like it when Apple Haters hate apple so much they cheer on Prince Bonesaw without realizing the irony.
Whoa whoa whoa...you mean the parts don't cost that much and Apple are reaming their customers?
All because they wouldn't put a decent OS on iPad. Are you happy now Apple?
far too many people in this world have been brainwashed into the belief that 'supply and demand' is not related to or has nothing to do with greed. Look up the definition of greed (merriam webster dictonary)
That fit's perfectly in defining 'supply and demand' which is 'I have something you want that others do not have therefore I am going to double/triple it's normal price' which fits perfectly with the definition of greed, 'a selfish and excessive desire for more (money) than is needed'.
People can try and spin it how ever they want but at it's core, supply and demand is nothing more than greed.
After the war started Shell's profits have nearly tripled, PROFITS, not just income. It really wouldn't suprise me if big oil companies are just buying cheap Russian oil through a shell (exuse the pun) company to increase that profit further.
All tech companies are facing a tough time! Will take some time before Apple regains the title.
Russia invaded Ukraine on February 24th. Shell's latest profit report was for January-February-March which means nearly 2/3rds was for period before the Russia invasion. Gas prices had already increased significantly before the invasion. Between January 1, 2021 and February 24, 2022, the average price of regular in the U.S. was up over 57%. It increased another 19% between February 24 and March 31. Gas prices then actually saw a bit of a decline during April before rising again towards the end of the month and into May.
You are wrong. The investigators found that the distributors control the spot gas prices, the corporations that own the stations also control the prices. If a station doesn't charge what it is 'supposed to charge', they are closed. I remember years ago a station in California decided not to gouge customers when they got an order to jack prices up, and the other stations nearby ratted them out EVERY TIME, and corporate finally removed the owners franchise agreement.
Oh yeah, gas prices are VERY much at the order of corporate thieves somewhere.
Again, very few gas stations nationwide are owned by oil companies. While oil companies determine wholesale prices these gas stations pay, the gas stations themselves determine retail prices based on their costs, local demand and competition, taxes, desired profit, etc. Sure, some gas stations are part of large chains (often also operating as convenience stores) but they can still be independent from the oil companies. As in most industiries, pricing can involve several layers/levels of potential profits from suppliers, manufacturers, distributors, wholesalers, retailers, etc.
Speedway is/was owned by Marathon Oil. MANY 'small stations', are either overtly or covertly owned by large corporations. They have too much at stake to have a rogue station showing how bad the system is rigged/gamed. It's not likely to change because everyone loves corporate money in politics.
Aramco’s valuation is weird, though. The Aramco IPO wasn’t available to be freely traded in the US due to Saudi law, so we can’t really get a clear view of the actual market cap of Aramco (given restrictions on trading the shares on far more high volume foreign exchanges, such as NYSE).