Oil executives won’t commit to ending buybacks, which will impact how much you pay at the pump.
HOW IT AFFECTS YOUR BANK ACCOUNT. >> YOU ARE RIPPING THE AMERICAN PEOPLE OFF AND IT MUST END GAS PRICES NEED TO GO DOWN. >> SOME BIG THINGS ARE HAPPENING THAT AFFECT HOW MUCH YOU PAY FOR THINGS. THE FIRST IS OIL EXECUTIVES WON’T COMMIT TO ENDING BUYBACKS. >> WILL YOU COMMIT TO DOING WHATEVER IT TAKES, INCLUDING INCREASING PRODUCTION, BUT ALSO REDUCING DIVIDENDS AND BUYBACKS IN ORDER TO LOWER PRICES FOR STRUGGLING AMERICAN CONSUMERS. >> NEARLY ALL BASICALLY ANSWERED LIKE THIS. >> WE’LL SEE PRODUCTION INCREASES OVER TIME. AND THE ANSWER IS NO ON THE DUDE ENSURE VS. >> HERE’S HOW BUYBACKS WORK WILL COMPANIES BY SOME OF THEIR OWN SHARES. THAT REDUCES SUPPLY FOR NORMAL. INVESTORS INCREASES DEMAND AND RAISES SHARE PRICES. THEN SHAREHOLDERS GET PAYOUTS CALLED DIVIDENDS, OIL EXECUTIVES USUALLY OWNS STOCK IN THEIR OWN COMPANIES SO THEY CAN PERSONALLY PROFIT FROM BUYBACKS. DEMOCRATS WOULD RATHER THEY INVEST IN PRODUCTION TO LOWER GAS PRICES. YOU AND YOUR BIG OIL CORPORATIONS ARE MAKING RECORD PROFITS. SOME REPUBLICANS BLAME HIGH FUEL COSTS AND ENERGY REGULATIONS. INSTEAD. >> THERE IS A WAY TO BE ABLE TO BRING PRICES DOWN. THEY’RE JUST NOT WILLING TO DO IT AT THIS POINT. >> THE SECOND THING HAPPENING THAT AFFECTS YOUR WALLET INVOLVES INTEREST RATES. THE FEDERAL RESERVE WILL RELEASE MONTHLY DATA ON CONSUMER CREDIT RATES TODAY. THAT’S FOR THINGS LIKE NEW CARS IN PERSONAL LOANS AND FREDDIE MAC IS RELEASING THE THING MORTGAGE RATES. THOSE NUMBERS ARE BASELINES. THE FED IS
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