Inflation - 40 Year High
- Thread starter MyTeamIsOnTheFloor
- Start date
98 percent of record production doesn't speak to capability. Countless experts have stated investors have no interest in boosting production here because of future political uncertainty surrounding the return on investment
See my further post to McM above. On the long term, you have a point. It's all part of the decades-long debate about how we should plan our energy future. No doubt the policies favored by Democrats tend to favor stricter supply, which leads to higher prices as long as demand stays high. But, again, these are all long-term. None of them can cause the kind of volatility we've experience this year. That kind of volatility is only caused by immediate market conditions.
You're contorting to absolve Biden. I'm sticking with the plain language of current industry execs who have said given Biden's attacks they have no interest increasing investments when the return is unknown. Again. Pick an area. Ideologues without practical plans lead to disastrous results. From defunding the police to attacking oil to paternity leaves during supply chain challenges. Form over substance over and over again. We have a terribly incompetent admin whose only skills are in virtue signaling and but trumps
The industry execs are doing the same thing the pols are doing. "Don't blame me!" With no legitimate explanation.
Government policies slowly change prices over many years. Normal market volatility can change in months or even weeks. But because we experience the pain in real time, we always want to blame someone. Biden isn't to blame. The industry execs aren't to blame. But they are both afraid of being blamed, so they would rather blame the other.
Overproduction of oil collapsed prices and caused a lot of financial problems in the oil industry long before Biden. Oil was so low it was impossible for some companies to profit. You seem to totally discount that part of why big oil is hesitant to spend. Simply put, oil makes more when prices are high. So today they have record profits. What incentive do they have to go back to bankruptcy prices?
I get that. I also get that given the left's rhetoric their future is uncertain.
I have seen the future.
You will have an awakening.
You will come to the right side.
You will feel shame for your past, but understand that it was focused upon you like a laser.
You will shun those who led you away from the Right side. In the end.
This scenario has played out time and time again. Don't fight it, it is inevitable.
Well for all his negativity towards the oil companies and refiners, they sure are thriving under his time in office.
Oil supply/price is but one side of the equation. Again, the last refinery built in this country was in 1979 in Garyville, La. That same issue plays out around the world and is exacerbated by developing countries coming online. Wait until Chinese demand for oil and gas continues to surge. These prices will become the norm in a global economy.
No, they have no motivation to boost because they are making money hand over fist in the current environment. Meanwhile you guys chase ghosts.
I brought up the riots because YOU brought up the 1/6 riots. As if it was OK for Democrats to contest those elections, but it wasn't OK for Trump to do it because some yahoos decided to storm the Capitol.
I've not misrepresented anything - you're just finding it impossible to justify your double standard.
We're not done until I say we're done.
I'd be trying to get all I can now too. If I invented a product and the gov told me the goal is to not use that product any more in five years I'd do my damndest to price gouge and do whatever I had to to maximize profits. I'd just been give a shelf life
Read my other reply to you. And as for the chasing ghosts. Please. You guys create problems with stupid rhetoric
You really are a simpleton. Look at Biden's actions his first day in office. Then look at gas prices and inflation immediately after.
Do you think anyone buys your "I'm left leaning but impartial" bullshit?
Of course. The attack on the industry now Biden comes back begging for help. Defund the police. Stupid rhetoric
I get trump is vile. I get DeSantis is a douchebag. But I don't understand for the life of me how anyone could be excited to vote Dem in Nov. this last 18 months have been a disaster.
You are truly an idiot. Biden has been in DC for 50 years - most of it in a leadership position.
You are really struggling with reality.
no doubt exogenous (Russia) factors are significant in what has transpired with crude, but those long-term decisions exacerbate cycles.
I don’t blame President Biden for the gas price conundrum, but his party certainly deserves some, including Senator Biden and VP Biden.
Not many buggy whip manufacturers now days. Get what you can, while you can and the gettin time is NOW. I don't think we can put this genie back in the bottle. And that is their entire plan.
Expedited social engineering based on a political emotion of an extremely loud, inferior minority. The quacks are steering the duck into the sausage grinder. and we are setting watching it like those being loaded into Jewish train cars in Germany. WhooHoo.. a train ride to a vacation spot. .. NOT.
that’s poor financial logic. Capex isn’t a short term investment and these investments often take years, not weeks or even months.
It's fair to portion some blame on the former Bidens. Just as it's fair to portion some blame on previous pols who helped hold back a transition away from oil. Just as it's fair to portion some blame on companies who felt it was more profitable to keep production at a certain level. Just as it's fair to portion some blame on government officials who pushed the regulations that forced some older refineries to shut down for retrofits. Just as it's...and so on.
My main opponent in this fight is the idiot who says, "Just look at the pump. Biden took office, and then gas prices skyrocketed." I don't absolve Biden, especially Senator and Veep Biden, as you mentioned. But the idea that Prez Biden took office and single-handedly doubled the price of gas - that's the kind of stupidity I can't abide. I'm sure you can't, either.
And that holds true for inflation. Biden didn't cause inflation. His 1.9 trillion exacerbated inflation in conjunction with the prior monies from Trump. But this admin has been A factor in making life harder for Americans, not easier.
Yes, I think it's been pretty well established as canon on here that government policy backed by Biden is responsible for 1-3% of inflation. Enough experts who are smarter than me have figured that out, so I won't deny it.
I will say something similar to what I've said in the past: I will wait until we see what the long-term real wage growth is before I get too upset with inflation. The continuing low unemployment leaves me hopeful - not assured, but hopeful - that this period of inflation will be mitigated by better wages in the long run.
Oh sweet jesus. The system always self corrects for wage increases. the only diff between people making $1 per hour, $10, $1,000 or $1,000,000 per hour is the time required for prices of products to adjust to absorb those incomes .
More money IS the reason for inflation, no the cause of it.
I had forgotten that you double pHd'd at IU in economics. I think I know why I forgot now.
This is one of your most inaccurate post! Biden inflation is caused by one thing. His war on fossil fuel. Energy costs have caused an immediate increase in everything we consume. With a labor shortage also contributing.
don't let the facts get in the way of rhetoric or big oil/Wall St propaganda.
there is just as much oil and gas on the market now as ever.
and oil prices haven't been affected by supply vs demand for decades. (other than when all storage was full, and tankers ships just sat at sea all over the globe because there was no where else to put their cargo there was such a glut, and gas prices didn't go down that much even then).
did you not already know that?
i'm guessing you did.
truth is what's in short supply right now, due to the war on truth.
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that's somewhere between a half truth and a total lie.
our further production capabilities are very high cost methods, and were never profitable absent govt subsidies.
so any "political uncertainty", was uncertainty over weather the govt would keep up the big oil welfare spigot flowing full open.
and the non subsidized price bettering the high cost of production, would be economic uncertainty, not political.
and currently nor in the foreseeable future, is demand more than what is already available.
there is as much oil on the market as ever.
there are no shortages here.
current oil price is from market manipulation, and gas prices are because of monopolization and war/pandemic profiteering.
Is that our bar?
I’ve not seen anyone suggest it’s all his fault, but I’ve seen many suggest it’s not his fault at all. You should ask for your money back from school based on how you’ve posted here…
Jet read my post real slow, I don’t want you to miss anything. It’s BIDEN’S FAULT.
No politician has held back a transition from oil. The market has held back a transition from oil because there are no competitive alternatives available yet. The Europeans are finding out just how ready renewable were to compete in the real world as we speak. And the one only real alternative that currently exists to carbon based energy production (nuclear) they shut down and we refuse to build because of the same groups wanting us to get off fossil fuels. So Germany is firing back up the coal plants they shut down.
Even Obama acknowledged that there is no peer competitor. Energy prices must necessarily skyrocket....why is that? Because at current capabilities, they woefully underperform.
If the renewables are truly at a point where they are a valid replacement, nothing will be able to hold them back.
WSJ: “Inbound container volumes across the 10 largest U.S. ports have fallen by an average of 25% since May, according to liners and terminal operators”.
Do you think this will prevent a strike next month? Negotiations are ongoing.
I think the reduced volume from Asia will benefit both sides. Longshoremen need a painful and long process, because automation is an existential threat.
PMA wants an excuse to “right size” the capacity glut and keep rates higher.
Companies I presume will have to start looking elsewhere to the degree possible. Having containers stuck from Asia doesn't fly. Our piss ant operation recently signed our first deal in Mexico to produce. Huge difference in shipping. Speed and cost
WTF? I thought that was DanC's job. Am I expected to do everything around here? Sheesh.
