The Biden Presidency
- Thread starter The Tariff King
- Start date
sturg33
I
"Please give us baby food and energy we can't produce our own anymore"
Things are going great!!
goldfly
<B>if my thought dreams could be seen</B>
doubling down on your dumb post was certainly an option
a dumb option
but an option nonetheless
congrats on still finding out how many fires happen at plants in the usa though. i see showing you the data did no help in you learning and is just another example of why really engaging with you is a waste of time when you just dismiss everything for what you want to believe.
sturg33
I
Your data was not about food plants, which are more than tripling our normal rate of food plant disasters
I'm happy to criticize trump too if he has to go beg other countries for food. Can you point to that event?
cajunrevenge
Well-known member
Clearly they didnt consult Trump, who is a self claimed expert on every subject except Qanon.
sturg33
I
[tw]1534625391469633538[/tw]
acesfull86
Well-known member
I wish Biden and Democrats would just own higher gas prices. It’s what they want.
Goldy can't figure out that our lower production is also affecting their prices.
nsacpi
Expects Yuge Games
It WILL have the effect of speeding up the transition from fossil fuels. And in the short-run it is goosing domestic oil exploration. The Baker-Hughes data show quite a jump in the number of active oil rigs. From 456 a year ago to 727. We are only a slight net importer of oil and refined petroleum product. And an exporter of natural gas. So terms of trade have swung our way. And bigly so for Canada. Europe, China and Japan are the ones who will suffer from higher energy prices. Though China might get getting a nice discount on any purchases it chooses to make from Russia.
https://rigcount.bakerhughes.com/
https://www.eia.gov/todayinenergy/detail.php?id=52659
Politically, it is not a winner because the gainers are energy companies and the losers are consumers. But in terms of the overall impact on the economy, it is pretty close to neutral. Well that's not quite right. If you take into account the second-order effects on our economy from slower growth in Europe, China and Japan it is a negative. Otoh the Middle Eastern countries are flush with cash. I'm guessing they will put some of that to work by investing in our markets and buying some of our products.
Medium and long term (which politicians don't think much about) higher energy prices will stimulate and accelerate development of non-fossil fuel forms of energy and do the same for domestic production of oil and natural gas. The big question is how quickly the new technology and new production comes aboard. I think it will also eventually provide get out of jail free cards to Iran, Venezuela and the crown prince of Saudi Arabia.
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goldfly
<B>if my thought dreams could be seen</B>
goldfly
<B>if my thought dreams could be seen</B>
a few of them
goldfly
<B>if my thought dreams could be seen</B>
zitothebrave
Connoisseur of Minors
Even playing full blown advocate, yes we are down compared to 2019 in 2021. But it's still way up from 2017, 18, etc. Production isn't the issue.
But let me explain to you what is happening. This is the blowback from Feb/March 2020 when oil was trading in the negatives. Many big rich folk lost a lot of money early in the pandemic when supplies were strong and demand was super low and they shut their fields down. They still haven't put fields back to their highest levels. Coupled with Russia being the world's biggest ****bois. We're dealing with 2 massive issues that are hitting at the same time.
But what makes everyone salty is oil companies are making record profits.
For example, America produces more oil than it consumes. If companies keep up these massive profits, don't be shocked to start seeing a popular opinion be to make oil a state run operation.