I get this is just a meme, but this isn't how the percents work out. If global throughput is down 20%, each company needs to increase their own production by 20% to get the global throughput back to normal.
Exactly, if only the three largest oil companies had to increase their production to account for the global shortage, the percentage increase would be more that 20% to make up for other companies not increasing. Please don't take this as me defending the oil companies, but instead me defending the math.
I get this is just a meme, but this isn't how the percents work out. If global throughput is down 20%, each company needs to increase their own production by 20% to get the global throughput back to normal.
author of the meme, probably:
Each company of all companies, not just those three.
Exactly, if only the three largest oil companies had to increase their production to account for the global shortage, the percentage increase would be more that 20% to make up for other companies not increasing. Please don't take this as me defending the oil companies, but instead me defending the math.
And by much more than 20% in all the non-Hormuz-needing places.
Why would they increase production when they can instead enjoy selling the same production as usual at a huge price premium?
My charging costs for two EVs for the last few months in $usd
sir this is a meme about black goo not your deadly zappy zzzt's!
😄
"Please sirs, can we have some more black goo?"
It is what it is