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Biden’s Actions First Day in Office Caused Inflation
Nov 23, 2021 17:02:07 #
pendennis wrote:
There are a lot of "ifs" here. br br In... (show quote)
Harris is president of the senate
Patrick leahy is President pro tempore
Two separate position
Nov 23, 2021 17:54:49 #
dirtpusher wrote:
Trump Said 'If There's a Concrete Wall in Front of You, Go Around It' in a 2004 Speech and People Are Starting to Notice
Boy, when you get something stuck in your teeny brain, you just can’t let it go, can you demopuke?
Nov 23, 2021 18:19:01 #
IDguy
Loc: Idaho
DennyT wrote:
Just what precisely did he do ? We are producing. More oil now than we did in Dec 2020 has not been cut one drop of oil.
Tell us all .
Tell us all .
I know lefties have trouble with reality. But as your hero would say, “Come on, man!”
I suppose Trump turned off the valve as he left office.
The drop is on the day after Inauguration when Biden torpedoed the economy.
Nov 23, 2021 18:25:39 #
IDguy
Loc: Idaho
BTW, note the scale above. Production is over 10,000,000 barrels a day. So Biden releasing 50,000,000 barrels from the SPR is about 5 days worth. A drop in a raging flood.
Nov 23, 2021 18:38:44 #
IDguy
Loc: Idaho
WNYShooter wrote:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M
You do not state what the numbers are.
Here is the chart with labels. You can see how fracking and Trump increased US production and Biden torpedoed it.
Nov 23, 2021 18:40:58 #
IDguy wrote:
I know lefties have trouble with reality. But as your hero would say, “Come on, man!”
I suppose Trump turned off the valve as he left office.
I suppose Trump turned off the valve as he left office.
Trump never caused the slow Production . There was no demand so producers stopped or at least slowed down. Demand goes down price goes down.
Price of oil tanked in 2020. . To be profitable. Frakers need 30-50/ barrel depending on their situation and it went well below that. Then they stated losing workers .
Despite the repeated efforts by many to blame the president ( trump or biden) , president have extremely low impact in the economy of America. —— they just get the blame or credit.
Trump had nothing to do with it . All driven by collapsed demand and the v***s fall out.
Now we see the opposite. High demand low supply equals high prices .
It will take a while for this to level out in all industries not just oil.
Nov 23, 2021 18:45:10 #
IDguy
Loc: Idaho
DennyT wrote:
Trump never caused the slow Production . There wa... (show quote)
Correct. Biden caused the production decrease by cancelling Trump’s EOs his first day in office.
e.g. : https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html
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Nov 23, 2021 19:15:33 #
IDguy wrote:
Correct. Biden caused the production decrease by cancelling Trump’s EOs his first day in office.
e.g. : https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html
e.g. : https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html
Wrong again . While a small cut in leasing ( federAl land only, ) could affect oil futures, these action had absolutely no impact on existing production.
In fact the accepted time from lease to production. Is 8 to 10 years.
Nov 23, 2021 19:16:59 #
[quote=DennyT]Trump never caused the slow Production .
As Denny said its a supply & demand situation. Oil pricing is a global issue, not just the US. Here's a summary from the NY Federal Reserve:
Conclusion
Changing expectations with respect to global economic activity has driven oil prices up over the past year. Between the summer of 2020 and January 2021, this led to substantial upward shifts in the estimated conditional distributions of near-term global inflation changes. More recently, oil price moves indicate that the impact of changes in anticipated global demand on the near-term inflation outlook has broadly stabilized, as a somewhat lower rate of inflation acceleration over the next six months due to changing demand expectations seems to have been priced in since August.
Full article: https://libertystreeteconomics.newyorkfed.org/2021/10/oil-prices-global-demand-expectations-and-near-term-global-inflation/
As Denny said its a supply & demand situation. Oil pricing is a global issue, not just the US. Here's a summary from the NY Federal Reserve:
Conclusion
Changing expectations with respect to global economic activity has driven oil prices up over the past year. Between the summer of 2020 and January 2021, this led to substantial upward shifts in the estimated conditional distributions of near-term global inflation changes. More recently, oil price moves indicate that the impact of changes in anticipated global demand on the near-term inflation outlook has broadly stabilized, as a somewhat lower rate of inflation acceleration over the next six months due to changing demand expectations seems to have been priced in since August.
Full article: https://libertystreeteconomics.newyorkfed.org/2021/10/oil-prices-global-demand-expectations-and-near-term-global-inflation/
Nov 23, 2021 19:29:15 #
IDguy
Loc: Idaho
DennyT wrote:
Wrong again . While a small cut in leasing ( federAl land only, ) could affect oil futures, these action had absolutely no impact on existing production.
In fact the accepted time from lease to production. Is 8 to 10 years.
In fact the accepted time from lease to production. Is 8 to 10 years.
You are buying the left sales pitch.
If you have leases and are told you can’t get more for at least four years, what would you do? Or a smart businessman if you can figure that out.
More importantly prices have risen continuously under Biden but production has not increased. Magic?
Nov 23, 2021 19:38:47 #
IDguy wrote:
You are buying the left sales pitch.
If you have leases and are told you can’t get more for at least four years, what would you do? Or a smart businessman if you can figure that out.
If you have leases and are told you can’t get more for at least four years, what would you do? Or a smart businessman if you can figure that out.
You're playing "what if" rather than "what is".
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Nov 23, 2021 19:45:07 #
IDguy
Loc: Idaho
Triple G wrote:
You're playing "what if" rather than "what is".
What is is that prices have risen and production stays down under Biden.
I know actual facts are difficult for the socialists to comprehend.
Nov 23, 2021 19:46:56 #
IDguy wrote:
What is is that prices have risen and production stays down under Biden.
I know actual facts are difficult for the socialists to comprehend.
I know actual facts are difficult for the socialists to comprehend.
Why can’t youaccept that neither Biden nor trump had any control over production ?
You have not produced one single bit of proof otherwise .
Nov 23, 2021 19:51:22 #
Triple G wrote:
You're playing "what if" rather than "what is".
He grasping fir any straw.?.
So prices went up “ while “ Biden was president .. so what . He did not cause it. No
That like saying it was cloudy today’s and Biden was present so he must have caused it.
The same thing when trump was president.
Dumb
Nov 23, 2021 19:52:41 #
IDguy wrote:
What is is that prices have risen and production stays down under Biden.
I know actual facts are difficult for the socialists to comprehend.
I know actual facts are difficult for the socialists to comprehend.
But, you're playing "what if" speculation about producers' behaviors without any proof.
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