it seems only 30% of those polled understands how inflation works.
100% of the 70% probably thinks that a president sets gas prices too.
Keep assuming.....
You do realize that Biden is responsible for the well being of everyone in the USA, right? You do realize that even though he can't control many of these outside issues, he can make a big difference in how these issues effect the citizens he is responsible for.
Regardless of what he is able and not able to do, he is still responsible and will be held accountable.
i know how the government works.
stop needling me with your pointless replies to me.
You know how government works yet you criticize 70% of the people taking that poll.... See where I'm going here? You don't like the poll numbers so you attack them instead of embracing them, much like the Democratic Party.
Do you really believe that Joe Biden's disapproval rating is so low only because the people taking the poll aren't as smart as you and don't understand? Ignorance is bliss.
Global consumer price inflation reached 5.2% year on year (y/y) in November and December 2021, its highest pace since September 2008 (Venezuela and Zimbabwe are excluded from all aggregates because of distortions caused by hyperinflation). Worldwide inflation will likely remain near 5.0% in early 2022 before gradually easing in response to declines in industrial and agricultural commodity prices. On an annual basis, global consumer price inflation picked up from 2.2% in 2020 to 3.8% in 2021 and will average 4.1% in 2022 before subsiding to 2.8% in 2023.
Why is US higher than average? Good question. I would venture to say it's our reliance on oil as a key energy source. Oil for the US is always a key economic indicator. We drive more than any other country, have more vehicles, trucks, etc. So we are very price sensitive to oil because we are so reliant on it to transport goods.
Second, I think the Fed probably kept the interest rates too low for too long. It spurred the home buying spree in 2020/2021.
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Afghanistan crisis: How Europe's relationship with Joe Biden turned sour
A series of disagreements,
most notably over Afghanistan, have some European leaders revising their
expectations about President Joe Biden, and thinking more about a
future untethered to the US.
Let me guess, these European leaders don't know what they're talking about either?
Way to post an article from September. If you can't see that things have changed Bigly since then I don't know what to tell you.
September wasn't that long ago....
Most of the folks they interviewed were former and not current leaders with one being described as Kremlin friendly...Not gonna take their word on how NATO views Brandon. The article also goes on to state that among the reasons for some cooling about Joe Biden is his inability to lift some of Trump's Tariffs. Damn Brandon. Regarding one of the sources of the article. "In 2018, he was re-elected for a second term. During his tenure, Radio Free Europe has described him (Milos Zeman) as "one of the European Union's most Kremlin-friendly leaders" due to his pro-Russian stance"
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
Some of the deplorables that I work with that walk around with 45 stickers on their hard hats actually think the answer to inflation is....printing more money :(
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
yes, he does own some of it. not all. I don't know he could have handled it any differently. I recall the "handout" discussion and I do recall understanding your point about people who didn't need the money shouldn't have gotten it, however, I did also agree with Psaki that they just really needed to get money into the hands of americans, and filtering out who "deserved" it and who didn't would have been very costly in a non-financial sense.
do you think he should abandon his platform, even now? I mean, the majority of americans think the pandemic is over; do they expect their CIC to act like it isn't? or are they just hoping his social programs won't survive Covid 19?
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
Some of the deplorables that I work with that walk around with 45 stickers on their hard hats actually think the answer to inflation is....printing more money :(
The deplorables I work with blame Brandon because the expanded child tax credits ended.🤷♂️
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it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Did he double down on child tax credits? I'm not eligible but it was my understanding that it was the same amount but you got it monthly rather than in the form of the end of year credit.
1. Three rounds of stimulus (2 by Trump, 1 by Biden) 2. PPP 3. Extended unemployment 4. Low interest rates and quantitative easing 5. Supply chain issues 6. War
The first four were put into place to prevent the economy from crashing. In hindsight, they were too aggressive. But considering we made through the pandemic without a massive recession, far worse than 2009, is pretty good. What would be worse? The inflation we have today or the mass unemployment and foreclosures like 2009? I will take inflation so long as it's tamed. But it's always a year to get under control, minimum.
WASHINGTON, DC - MARCH 08: U.S. President Joe Biden speaks in the Roosevelt Room of the White House ... [+] GETTY IMAGES
Last December I covered the nuances of U.S. energy independence. A common belief that I encounter is that President Trump made us energy independent, but we lost that energy independence under President Biden.
That’s not strictly true, but it requires a bit of understanding about what energy independence actually is. I covered these issues in Is The U.S. Energy Independent?
As I explained, a correct accounting would be to add up all of our energy production (oil, natural gas, coal, renewables) and then subtract our net energy consumption. The U.S. is a net exporter of coal and natural gas, so it really comes down to the petroleum balance.
U.S. net imports have been declining since 2005 as a result of hydraulic fracturing. That year, U.S. net imports of petroleum and petroleum products (e.g., gasoline, diesel, jet fuel) averaged 12.5 million barrels per day (BPD). By the time President Obama left office, the number had declined to 4.8 million BPD (Source). During Obama’s last full month in office, the number was 4.2 million BPD.
When President Trump took over, the downward trend continued. During President Trump’s last year in office, the net import number turned negative. It is therefore true that we gained energy independence (per this definition of net imports) under President Trump. Net exports in 2020 averaged 635,000 BPD for the year.
However, when the Covid-19 pandemic resulted in widespread stay-at-home orders, U.S. energy demand and energy production both plummeted. For the first four months of 2020, net exports averaged one million BPD. But then by May we had to start importing again. In May and June the U.S. imported (net) three quarters of a million BPD. In the second half of the year, net imports once again became net exports. For the full year of 2020, the U.S. became a net exporter for the first time in modern history.
Forbes Busi
In 2021, we oscillated between net imports and net exports on a month-to-month basis. In certain months, we were net importers (and hence, lost our “energy independence” per that definition). In other months, we were a significant net exporter.
What wasn’t clear was whether the U.S. would be a net exporter for the entire year of 2021. But the Energy Information Administration (EIA) recently posted the numbers for December, and we now have an answer. Net exports grew each month from September through December to push the final average for the year to a net export number of 162,000 BPD. That is significantly down from 2020, but it is still energy independent according to the net export definition.
We had lost our energy independence several times on a monthly basis since May 2020. But, the full calendar years of 2020 and 2021 both turned out to be net export years. (I should note that sometimes the EIA revises these numbers, but it would take some pretty big revisions to change the energy independence status of 2021).
But these numbers prompted me to wonder whether we had lost our energy independence on a rolling 12-month basis after we initially gained it. Instead of looking at calendar years, I looked at the 12-month average for each month. This shows the evolution of our energy independence over time and smooths out the month-to-month noise.
Because of some months in which we imported a lot of oil, I thought we probably had lost our net exporter status at some point. It turns out I was wrong.
12-month rolling average of U.S. net imports of petroleum and petroleum products
This graphic gives a more nuanced picture of events over time. It shows that our march toward energy independence stalled in 2015 and 2016. What happened in those years? That’s when Saudi Arabia tried to put the U.S. shale drillers out of business by flooding the market with oil and collapsing the price.
In 2017, we resumed the march toward energy independence. That happens to be the first year of Donald Trump’s presidency, but it also corresponds to Saudi Arabia waving the white flag and trying to prop oil prices back up. Between 2016 and 2018, the annual average price of West Texas Intermediate rose more than 50%. That price recovery helped boost oil production.
However, the graph also shows that once we first gained energy independence — which happened in April 2020 on a rolling 12-month basis — we have never lost it. But the downward trend switched directions in June 2021 (which covers the period of June 2020 through May 2021 — portions of both the Trump and Biden presidencies).
The average got close to zero, but it never changed back to a net import situation on a rolling 12-month basis. I would add that it’s not quite as bad as it looks if we were to factor in net exports of coal and natural gas. Further, if the trends in the past three months of 2021 continue, the graph will resume its decline. In other words, by this metric our level of energy independence will increase once again if these trends continue.
But it’s safe to say — at least per this particular way of measuring energy independence (which is consistent with how the EIA measures is) — the U.S. is still energy independent.
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Did he double down on child tax credits? I'm not eligible but it was my understanding that it was the same amount but you got it monthly rather than in the form of the end of year credit.
It increased from $2,000 per child to $3,000 per child over 6 and $3,600 per child under 6
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Did he double down on child tax credits? I'm not eligible but it was my understanding that it was the same amount but you got it monthly rather than in the form of the end of year credit.
It increased from $2,000 per child to $3,000 per child over 6 and $3,600 per child under 6
Biden's approval rating is 3% higher than Trump's was at the same point in his term. Every Trump supporter for four years called polling fake news, yet here one is now gloating over polling. These people have no shame.
The people on this message board are calling polling bullshit too and then calling the people taking the poll stupid and uneducated. Who has no shame?
Judging by this picture you posted.....it appears to be you.
Well Hunter Biden is the smartest person that Joe Biden knows so there is that.....
How do you know that not to be true? Because he struggled with addiction? Ooohh....sick burn man.
Do you think folks in AA and Narcotics Anonymous are all stupid?
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
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another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Biden's approval rating is 3% higher than Trump's was at the same point in his term. Every Trump supporter for four years called polling fake news, yet here one is now gloating over polling. These people have no shame.
The people on this message board are calling polling bullshit too and then calling the people taking the poll stupid and uneducated. Who has no shame?
Judging by this picture you posted.....it appears to be you.
Well Hunter Biden is the smartest person that Joe Biden knows so there is that.....
How do you know that not to be true? Because he struggled with addiction? Ooohh....sick burn man.
Do you think folks in AA and Narcotics Anonymous are all stupid?
Interested in your answer JB.....
I can not say it is not true 100%. What I can say is that if Hunter truly is the smartest person Joe knows, that is troubling. Sure, he has his issues with addition but I haven't seen anything confirming how smart the guy is. He sure hasn't acted like a very smart guy, addict or not. You can be an addict and still be the smartest person on the planet.
Do I think folks in AA and NA are all stupid? No and I never said that. My brother is in prison for 28 years due to drugs which led to a murder he was part of. I have plenty of family and friends that have destroyed their lives and continue to do so. I wish they wanted to go to AA or NA because it works but only if the person is accepting of it. Unfortunately, I know more that have lost their battle than have won.
Biden's approval rating is 3% higher than Trump's was at the same point in his term. Every Trump supporter for four years called polling fake news, yet here one is now gloating over polling. These people have no shame.
The people on this message board are calling polling bullshit too and then calling the people taking the poll stupid and uneducated. Who has no shame?
Judging by this picture you posted.....it appears to be you.
Well Hunter Biden is the smartest person that Joe Biden knows so there is that.....
How do you know that not to be true? Because he struggled with addiction? Ooohh....sick burn man.
Do you think folks in AA and Narcotics Anonymous are all stupid?
Interested in your answer JB.....
I can not say it is not true 100%. What I can say is that if Hunter truly is the smartest person Joe knows, that is troubling. Sure, he has his issues with addition but I haven't seen anything confirming how smart the guy is. He sure hasn't acted like a very smart guy, addict or not. You can be an addict and still be the smartest person on the planet.
Do I think folks in AA and NA are all stupid? No and I never said that. My brother is in prison for 28 years due to drugs which led to a murder he was part of. I have plenty of family and friends that have destroyed their lives and continue to do so. I wish they wanted to go to AA or NA because it works but only if the person is accepting of it. Unfortunately, I know more that have lost their battle than have won.
you posted that it was troubling that hunter was the smartest person joe knows, followed by 3 disgusting pictures of hunter using/passed out from drugs.
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
yes, he does own some of it. not all. I don't know he could have handled it any differently. I recall the "handout" discussion and I do recall understanding your point about people who didn't need the money shouldn't have gotten it, however, I did also agree with Psaki that they just really needed to get money into the hands of americans, and filtering out who "deserved" it and who didn't would have been very costly in a non-financial sense.
do you think he should abandon his platform, even now? I mean, the majority of americans think the pandemic is over; do they expect their CIC to act like it isn't? or are they just hoping his social programs won't survive Covid 19?
Well in a perfect world your platform is based on the reality of the day.
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Biden owns a small portion of it. The $1400 stimulus under Biden just made up for the $1400 shortfall that tRump promised. Sure it was political...but that stimulus is nothing compared to the PPP handouts.
And for the record....I benefited from the PPP handout. It was ridiculous.
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville 2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Biden owns a small portion of it. The $1400 stimulus under Biden just made up for the $1400 shortfall that tRump promised. Sure it was political...but that stimulus is nothing compared to the PPP handouts.
And for the record....I benefited from the PPP handout. It was ridiculous.
And most people aren't referring to the PPP loans when they complain about the "handouts" from the government. I just think people who took PPP money, but complain about the other aid are hypocrites.
it seems only 30% of those polled understands how inflation works.
Not sure what you mean by this.....tell me how inflation works.
I already explained it above what I meant.....I would think a large portion of those polled probably don't know how inflation works, and how much control the president of the country has over it (some, but limited)....especially during a global pandemic where there are massive supply chain issues and national debt is going to increase by a ton.
I'm no expert by any stretch, but I know the basics. I think a lot probably don't.
I don't think it's ok to ignore the massive amount of $ the government threw into the economy by giving people $ who didn't need it. Certainly the pandemic playing a part, but the handling of it certainly plays a part as well. Biden owns a portion of this...and yet wants to double down on child tax credits, etc. It was bound to catch up with him.
Biden owns a small portion of it. The $1400 stimulus under Biden just made up for the $1400 shortfall that tRump promised. Sure it was political...but that stimulus is nothing compared to the PPP handouts.
And for the record....I benefited from the PPP handout. It was ridiculous.
And most people aren't referring to the PPP loans when they complain about the "handouts" from the government. I just think people who took PPP money, but complain about the other aid are hypocrites.
And there are plenty of them. I have tried to explain it to my in laws....like talking to a brick. They say "yeah but we didn't know what was going to happen with the virus" etc. But that doesn't explain why there wasn't a clause in the PPP contract that said "if your business ends up not being effected then you must repay".
Remember the Thomas Nine !! (10/02/2018)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville 2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
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The Juggler
Behind that bush over there. Posts: 47,547
Biden's approval rating is 3% higher than Trump's was at the same point in his term. Every Trump supporter for four years called polling fake news, yet here one is now gloating over polling. These people have no shame.
The people on this message board are calling polling bullshit too and then calling the people taking the poll stupid and uneducated. Who has no shame?
Judging by this picture you posted.....it appears to be you.
Well Hunter Biden is the smartest person that Joe Biden knows so there is that.....
How do you know that not to be true? Because he struggled with addiction? Ooohh....sick burn man.
Do you think folks in AA and Narcotics Anonymous are all stupid?
Interested in your answer JB.....
I can not say it is not true 100%. What I can say is that if Hunter truly is the smartest person Joe knows, that is troubling. Sure, he has his issues with addition but I haven't seen anything confirming how smart the guy is. He sure hasn't acted like a very smart guy, addict or not. You can be an addict and still be the smartest person on the planet.
Do I think folks in AA and NA are all stupid? No and I never said that. My brother is in prison for 28 years due to drugs which led to a murder he was part of. I have plenty of family and friends that have destroyed their lives and continue to do so. I wish they wanted to go to AA or NA because it works but only if the person is accepting of it. Unfortunately, I know more that have lost their battle than have won.
you posted that it was troubling that hunter was the smartest person joe knows, followed by 3 disgusting pictures of hunter using/passed out from drugs.
I guess we wrongly assumed what you meant. lol
How dare a father say nice things about his son...after losing his other son to cancer.
Russia only invaded Ukraine to find the server that TFG was after. They're doing this for America, you guys, so we can know the truth about Hunter Biden.
Comments
Why is US higher than average? Good question. I would venture to say it's our reliance on oil as a key energy source. Oil for the US is always a key economic indicator. We drive more than any other country, have more vehicles, trucks, etc. So we are very price sensitive to oil because we are so reliant on it to transport goods.
Second, I think the Fed probably kept the interest rates too low for too long. It spurred the home buying spree in 2020/2021.
Regarding one of the sources of the article. "In 2018, he was re-elected for a second term. During his tenure, Radio Free Europe has described him (Milos Zeman) as "one of the European Union's most Kremlin-friendly leaders" due to his pro-Russian stance"
There are no kings inside the gates of eden
There are no kings inside the gates of eden
do you think he should abandon his platform, even now? I mean, the majority of americans think the pandemic is over; do they expect their CIC to act like it isn't? or are they just hoping his social programs won't survive Covid 19?
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1. Three rounds of stimulus (2 by Trump, 1 by Biden)
2. PPP
3. Extended unemployment
4. Low interest rates and quantitative easing
5. Supply chain issues
6. War
The first four were put into place to prevent the economy from crashing. In hindsight, they were too aggressive. But considering we made through the pandemic without a massive recession, far worse than 2009, is pretty good. What would be worse? The inflation we have today or the mass unemployment and foreclosures like 2009? I will take inflation so long as it's tamed. But it's always a year to get under control, minimum.
There are no kings inside the gates of eden
https://www.forbes.com/sites/rrapier/2022/03/08/surprise-the-us-is-still-energy-independent/?sh=427e67e430b6
Surprise! The U.S. Is Still Energy Independent
Last December I covered the nuances of U.S. energy independence. A common belief that I encounter is that President Trump made us energy independent, but we lost that energy independence under President Biden.
That’s not strictly true, but it requires a bit of understanding about what energy independence actually is. I covered these issues in Is The U.S. Energy Independent?
If you are confused about the definition of energy independence, also see What Is Energy Independence?
PROMOTED
As I explained, a correct accounting would be to add up all of our energy production (oil, natural gas, coal, renewables) and then subtract our net energy consumption. The U.S. is a net exporter of coal and natural gas, so it really comes down to the petroleum balance.
U.S. net imports have been declining since 2005 as a result of hydraulic fracturing. That year, U.S. net imports of petroleum and petroleum products (e.g., gasoline, diesel, jet fuel) averaged 12.5 million barrels per day (BPD). By the time President Obama left office, the number had declined to 4.8 million BPD (Source). During Obama’s last full month in office, the number was 4.2 million BPD.
When President Trump took over, the downward trend continued. During President Trump’s last year in office, the net import number turned negative. It is therefore true that we gained energy independence (per this definition of net imports) under President Trump. Net exports in 2020 averaged 635,000 BPD for the year.
However, when the Covid-19 pandemic resulted in widespread stay-at-home orders, U.S. energy demand and energy production both plummeted. For the first four months of 2020, net exports averaged one million BPD. But then by May we had to start importing again. In May and June the U.S. imported (net) three quarters of a million BPD. In the second half of the year, net imports once again became net exports. For the full year of 2020, the U.S. became a net exporter for the first time in modern history.
In 2021, we oscillated between net imports and net exports on a month-to-month basis. In certain months, we were net importers (and hence, lost our “energy independence” per that definition). In other months, we were a significant net exporter.
What wasn’t clear was whether the U.S. would be a net exporter for the entire year of 2021. But the Energy Information Administration (EIA) recently posted the numbers for December, and we now have an answer. Net exports grew each month from September through December to push the final average for the year to a net export number of 162,000 BPD. That is significantly down from 2020, but it is still energy independent according to the net export definition.
We had lost our energy independence several times on a monthly basis since May 2020. But, the full calendar years of 2020 and 2021 both turned out to be net export years. (I should note that sometimes the EIA revises these numbers, but it would take some pretty big revisions to change the energy independence status of 2021).
But these numbers prompted me to wonder whether we had lost our energy independence on a rolling 12-month basis after we initially gained it. Instead of looking at calendar years, I looked at the 12-month average for each month. This shows the evolution of our energy independence over time and smooths out the month-to-month noise.
Because of some months in which we imported a lot of oil, I thought we probably had lost our net exporter status at some point. It turns out I was wrong.
This graphic gives a more nuanced picture of events over time. It shows that our march toward energy independence stalled in 2015 and 2016. What happened in those years? That’s when Saudi Arabia tried to put the U.S. shale drillers out of business by flooding the market with oil and collapsing the price.
In 2017, we resumed the march toward energy independence. That happens to be the first year of Donald Trump’s presidency, but it also corresponds to Saudi Arabia waving the white flag and trying to prop oil prices back up. Between 2016 and 2018, the annual average price of West Texas Intermediate rose more than 50%. That price recovery helped boost oil production.
However, the graph also shows that once we first gained energy independence — which happened in April 2020 on a rolling 12-month basis — we have never lost it. But the downward trend switched directions in June 2021 (which covers the period of June 2020 through May 2021 — portions of both the Trump and Biden presidencies).
The average got close to zero, but it never changed back to a net import situation on a rolling 12-month basis. I would add that it’s not quite as bad as it looks if we were to factor in net exports of coal and natural gas. Further, if the trends in the past three months of 2021 continue, the graph will resume its decline. In other words, by this metric our level of energy independence will increase once again if these trends continue.
But it’s safe to say — at least per this particular way of measuring energy independence (which is consistent with how the EIA measures is) — the U.S. is still energy independent.
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Interested in your answer JB.....
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
I guess we wrongly assumed what you meant. lol
www.headstonesband.com
And for the record....I benefited from the PPP handout. It was ridiculous.
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Libtardaplorable©. And proud of it.
Brilliantati©
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana
Libtardaplorable©. And proud of it.
Brilliantati©
Russia only invaded Ukraine to find the server that TFG was after. They're doing this for America, you guys, so we can know the truth about Hunter Biden.
I can't believe Brandon let this happen.