Nm
- Thread starter KNIGHTTIME^
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But it is ok, because they are giving seniors 5.9% raise in SS while only raising Medicare premium 7%.
Wow. Biden is even responsible for inflation at the end of 2020 huh? The bottom 3 are in the normal range for a 2 year inflation based on depressed inflation numbers in 2020 due to the pandemic. The top 3 items are all related to fuel prices which commonly remain range bound in a 2-3 dollar range of fuel prices (per gallon) where a 50% increase year over year is not uncommon. As fuel prices were also artificially depressed in 2020 due to no travel demand, this is also expected. For the most part the President has little impact on the ebb and flow of the economy, but certainly no first year Presidential policy has solely contributed to the increases you have memed up.
Spending and borrowing like a drunken sailor played no part, OK. Paying people more money than they made working to stay home during a time full of shortages played no part, OK. Telegraphing you want to spend another 5 to 6 Trillion you don't have, plays no part, OK. Got ya
Thanks liberal focks for gas going through the roof. Biden is the worst President in the history of our country. The shadow government controls him like a puppet
Biden doesn’t control gas prices which don’t move in a linear fashion. Rather they are rangebound between $1.50 and $4.00 over the past 20 years.
They don't control him. They do what they're gonna do which is the same thing they always have: make sure their jobs are secure and do the bidding of big business lobbies.
When do companies like Raytheon or Pfizer ever lose? They do what they do and make billions while the rest of us fight over the pittance.
How does it compare to 2019? In Sept 2020 almost nobody was driving. It looks like it was between $2.40 and $2.90/gal in Orlando during 2019 (around $3.00 now)
I would like to know who to blame for the $100K increase on the value of my house ($320K vs $425K)
I would like to know who to blame for the $100K increase on the value of my house ($320K vs $425K)
Biden does, however, control and has, quite publicly, affected the logistics and supply to great effect. That's is, in fact, why Biden asked OPEC to increase output, as he has reduced domestic capability and corresponding supply. No one wants to invest in increase domestic supply, when Biden will cause they to operate at a loss.
That's why most domestic 'Big Oil' correctly predicted Biden would be calling for OPEC to increase production within a year, and sure enough, it wasn't even 6 months. We have an administratoin that is literally cutting our own balls off in grandstanding, and putting the national security at risk ... and it also has to do with special, foreign-based interest, atop of that.
Not my words, but those of Canadian regulators I know.
That said ... domestic 'Big Oil' still loves Biden because, even though their volume and overall sales is down, their margins are more profitable -- by percentage -- and, ultimately, they are operating in a 'sustainable mode' for the long-term. The higher gas prices go, the better their margins, and they are not spending R&D either.
Sure, they'd like to make more money, but the last thing they want to do is ramp up domestic production, and make those investments and take on those R&D costs like they did under W., and then Obama's first term, only to see those prices not only come down, but end up operating at a loss because -- again -- Biden pulls yet another stunt that destroys their logistics, but they still have deliver on their contracts.
Ironically, by using far less environmentally sound and safe transport too that causes yet more spills and damage, while being more costly.
I wish more people were actually exposed to the energy economy, as they wouldn't think they ways they do. They'd be arguing for yet more pipellines, not less, for environmentally sound reasons.
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Yep. Domestic 'Big Oil' is doing qujte well, and is far more 'stable,' even though at lower output.
I even had a colleague say Biden was going to 'destroy domestic petroleum,' and I just laughed. I said they'd go smaller, but make even more profit, especially once supply was constrained, and -- as I told him domestic Big Oil predicted -- Biden would have to ask OPEC to increase output within a year. He laughed at me, called me an idiot, and said we were going to use less petroleum under Biden, so we wouldn't need OPEC at all. Ignorance is bliss I guess.
I also don't think most Americans realize that because of Biden, we'll never invest domestically like we did in 2005-2007 ever again either. Even Obama knew not to f' with it, although he started to in his 2nd term, but nothing like the outright cancellations of Biden. Obama got most of his 8% CO2, let alone massive particulates, reduction because of the natural gas glut too.
That's why Trump promising the return of coal was never going to happen. Coal is an export crop for us ... although if petroleum and natural gas transport is constrained enough, coal is from different regions with their own rail, so it will be used in an emergency at a heafty cost. That's why we won't do it unless a national security need.
We're just going to continue to use the limited pipelines and backfill with rail and trucks to move it. And as we have reduced rail and truck capability in the great logistical/manpower crunch, we couldn't move our prior, domestic capacity any way. It's compounding so we're back to relying on OPEC and sea tankers, who also have a constrained, logistical crunch too.
So gas prices will continue to rise, without domestic oil changing at all, their margins will just keep going up.
Those fears are overblown, per the WP back in 2020 November.
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