Gas

[snox801]

They are still giving out permits and there are enough permits out there to keep oil companies busy for the next 100 years. You don't think that possibly the fact that in 2020 632 independent oil companies went bankrupt and the big 5 oil companies had a combined loss of almost $80 billion had anything to do with it? You believe that if Biden were to rescind those policies and open back up the construction of the XL pipeline, it would cause the oil companies to produce twice as much oil to make the same profits they are today and drop the price of gas by a $1 a gallon and they just wouldn't worry about loosing their shirts again the next time supply far exceeds demand?

I do believe that would happen. Many of the biggest experts mainly the ones who raise capital for exploration have said as much. I m is you can find others that say no but remember aoc has a economics degree but I don't think anyone would put here on the level of Thomas Sowell.

 

[snox801]

i said nothing about the XL pipeline. i dont think it has anything to do with it. it wasnt even done when brandon halted construction. all he did was kill several thousand jobs.

per the article i quoted, he turned off 25% of the production. the pandemic didnt help anything. they were expecting as prices to rise in 2022 prior to russia invading ukraine. you can find articles stating such from december of 21 and january of 22.

Well and the fact that gas was up over $1 before Russia invaded.

 

[jbs2014]

it would have been considered a risky investment when we were regularly having lockdowns and nobody was driving but that's not the case anymore. biden has only done things to discourage investment in oil production.

Agreed

And if I remember correctly he stated that he was intending to wreck the fossil fuel industry in favor of his "unicorn dust" green initiatives. All in the name of the biggest hoax ever conceived.

 

[jbs2014]

Still 4.77 at my location.

Brandon is a failure

 

[JimFromTN]

I do believe that would happen. Many of the biggest experts mainly the ones who raise capital for exploration have said as much. I m is you can find others that say no but remember aoc has a economics degree but I don't think anyone would put here on the level of Thomas Sowell.

So you are saying that the oil companies would be more than happy to spend the money to increase production and pump more than twice as much oil to make the same money? By the way, the oil companies made a record $200 billion last year in profits by not increasing production. You don't think they learned something from that?

 

[jpfrog]

This keyboard argument is fascinating in a way that makes me want to gouge my eyes out.

On a fun note- the $5.29 for diesel paid a couple of weeks ago was down to $4.89 yesterday. Still hurt, but at least I could buy a hamburger and a Coke after I filled up with the savings

 

[762x51]

So you are saying that the oil companies would be more than happy to spend the money to increase production and pump more than twice as much oil to make the same money? By the way, the oil companies made a record $200 billion last year in profits by not increasing production. You don't think they learned something from that?

but could that not be due to different driving habits? people were stuck inside for the previous year and wanting to get out? the pandemic was still going on so people may have been less likely to want to hop on a cramped airplane to go visit family they havent seen in a year.

blaming oil companies or russia entirely for this situation is BS propaganda from this administration. prices were expected to go higher this year prior to the ukraine invasion. you can't just close down everything and then re-open it and not have inflation. if it was expected, then steps should have been taken to ease the burden for when it actually started.

 

[JimFromTN]

but could that not be due to different driving habits? people were stuck inside for the previous year and wanting to get out? the pandemic was still going on so people may have been less likely to want to hop on a cramped airplane to go visit family they havent seen in a year.

blaming oil companies or russia entirely for this situation is BS propaganda from this administration. prices were expected to go higher this year prior to the ukraine invasion. you can't just close down everything and then re-open it and not have inflation. if it was expected, then steps should have been taken to ease the burden for when it actually started.

Maybe people shouldn't be "blaming" anyone. At first, I did blame the oil companies but after learning more about what happened back in 2020, I am not "blaming" the oil companies anymore. They are a business and the goal of business is to make money, period. I wish I had sunk a bunch of money into their stocks back in 2020 because not only would I have more than doubled my money but I would also be getting some nice dividend checks. Oil companies simply aren't ramping up production and they are making their largest profits in history by doing so. Until they stop making historical profits, why change?

As for, you just can't close everything down and then re-open and not have inflation, I agree 100% that the inflation we are experiencing today is a direct result of the shutdown in 2020. We weren't prepared for the shutdown and we weren't prepared for the resulting inflation.

 

[snox801]

Not sure the **** down caused inflation directly.
It's was the massive printing of money. Same amount of goods available but twice the dollars chasing it. Couple that with lower than average availability and inflation.
Can't print money like that. Have $100 and print another now makes your money worth half as much. This is a symptom of modern monetary theory.
Just spend your way out of debt. Sure sounds good from the government but simple math tells me that's not possible.

 

[JimFromTN]

Everything I have read says differently. Its being cause by supply chain issues which is a result of the pandemic, increased demand because we are coming out of the pandemic, increased production costs, and all the money giveaways they did in 2020 and 2021 because of the pandemic. The money giveaways increased demand.

 

[snox801]

You are reading the wrong stuff by guys like Norman Chomsky. He says that but he's not even in that field. Look at what Thomas sowell says. Inflation is caused by more dollars with fewer goods. Our ratio of goods has not been as great as how many dollars we have printed. We have printed more money in the past year than ever before

 

[LkeAF]

See it seems that everything g is twisted around to match. How do you explain the huge jump in economic growth after trump took office. We had a very slow rate of growth then bam a huge boom. If you could at least admit that he did great with that you would have some credibility. I'm able to admit I didn't like Clinton but he proceeded over a great economy and it was not left for him form bush.
Spend the day and look at long term rates of growth and you will realize juts how dismal Obama's economy was.
Now if it collapsed this year I'm sure you are the guy that will find a way to fold himself in half to forgive out how it's not the current presidents fault. Oh that's right trump left it for him.
Man I don't even like trump and you ha e me standing up for him.

Actually, the economy was growing at a pretty sustainable rate under Obama. And by sustainable, I mean inflation wasn't revving up at the same time. I would've expected the economy to rev up under Trump because Corporate America knows that the GQP is all for eliminating any and all regulations so that they can maximize their profits.
The COVID stimulus was, in my opinion, more than necessary (I would blame the Dems for that one, and this is also a critique that is much easier to make looking backward) and is what has largely fueled the economic explosion and accompanying inflation that we're seeing right now.
If we jump back to Carter, which I believe you also mentioned, he made the tough but appropriate choice to appoint Volcker head of the Fed Reserve and tasked him with reigning in inflation, which was spiraling out of control. He jacked interest rates up, which really slowed the economy and caused a lot of short term pain for a lot of people, but ultimately did reign in inflation, which was the goal.

 

[Muddyboots]

Supply chain issues can be tied to the pandemic but also from the US FAILING to increase container port capacities, opening up new ports along with the required infrastructure requirements such as highways, trucks, drivers et al.

This has been a festering wound that has now become oozing. This is not the current or previous administration fault but past 25 years+ of complete FAILURE to plan accordingly. There has been plenty of signs that our ports were under capacity, infrastructure inadequate for many years but like all politicians, feed the screaming pig first.

The recent so called Infrastructure bill has $17B for ports. That will NOT get it done in building new ports PLUS upgrading existing PLUS address infrastructure for containers. Just a band aid on a scab. Next time you see a $B road project, think how does that cost stacks (no pun) up to new port, dockage, cranes, storage, capacity to off load and transport.

List of busiest container ports - Wikipedia

en.wikipedia.org

Look where the US is located on this list! The US has ONLY 4 PORTS in top 50 of container capacity.

We will be gridlocked for a long time until we start addressing this problem with real money and commitment.

 

[JimFromTN]

You are reading the wrong stuff by guys like Norman Chomsky. He says that but he's not even in that field. Look at what Thomas sowell says. Inflation is caused by more dollars with fewer goods. Our ratio of goods has not been as great as how many dollars we have printed. We have printed more money in the past year than ever before

On a cursory look, I can't find anywhere that Thomas Sowell addresses the current situation. I see allot of his quotes from the past but nothing current. Do you have any links of him addressing the current inflation?