I'm pretty nervous about all of this. Not that much for my 401k, etc as I have plenty of time for a rebound. But there are a lot of people who don't. This plus gas prices plus inflation....all hitting everyone in various manners. This is a death blow to the mid-terms and the next presidential election if it doesn't get under control. And if that happens, we are going to have a very socially conservative leader and congress.....scary.
have there been any other countries that have handled this better than we have? last i checked inflation is much worse in the EU countries. maybe we should model after countries that have done a better job. i am not sure if any have though. has anybody heard of a better way? because i am all ears.
So do you think come election time this is the narrative? I don’t think so. And that’s my concern.
Let me ask you, how are you willing to give Biden on these issues, gas aside? When does it start to be a concern for you?
Does anyone on here have any idea on what Biden can do about any of your concerns? Stock market? Inflation? Gas prices? War in Ukraine? Covid? Unpresidented times but it’d be helpful if maybe you could make some recommendations. Or better yet, the other major political party did so with actual policy proposals. Crickets.
When is it a concern? Now. What am I doing? Tightening my belt. Driving less. Not carrying credit card debt. Cutting back on eating out and travel. Fuck, I remember my parents not being able to afford coffee and OJ and instant coffee and tang was like toilet paper during Covid. Gas went from $.35 a gallon to $1.00. Inflation ran 16% and interest rates went to 13%. Or vice versa. What happened? Carter was one term and Ronny Rayguns and a dem controlled Congress gutted social spending, increased the military and exploded the deficit. Took 6 years to get out of it and what we were left with was tax cuts for the wealthy and ketchup as a vegetable in school lunch programs. “Government is the problem.”
Ask Elon and Bezos to bail us out. Because the repubs have no solutions.
Speaking of the stock market, I highly recommend Diamond Hands, a documentary on MSNBC about the game stop ride. Done by a guy who did a documentary on the female boxer from Flint, MI, called T-Rex. Also did California is a Place. Google is your friend. And all three are excellent.
Add weather to the list of things Biden has to fix.
Climate change
Unpredictable weather events, such as droughts that damage crops and storms that upend trade routes, are increasingly seen as a key factor in the rising cost of living.
In India, the government has responded to a record-setting heat wave that put a strain on millions with a ban on wheat exports. The country, which accounts for nearly a third of the world’s wheat supply, had previously pledged to help “feed the world” amid the ongoing food crisis, Prime Minister Narendra Modi said earlier this month.
India is just the latest country hit by extreme weather that destroyed crops: Brazil, another major food exporter, suffered through drought last year that hit its agricultural industry. The country’s inflation reached over 12 percent in April. And it’s not just food prices that are affected. Lumber is more expensive after floods and fires in British Columbia, leading to knock-on effects in housing and construction.
And at the same time, efforts to transition to a green economy are putting more pressure on prices for commodities such as lithium used for batteries and copper for wiring and computer chips.
Many experts say that this “greenflation” should be temporary and that a green economy ultimately will be less vulnerable to energy shocks, but the short-term expense of the moves could derail the move toward that economy.
Does anyone on here have any idea on what Biden can do about any of your concerns? Stock market? Inflation? Gas prices? War in Ukraine? Covid? Unpresidented times but it’d be helpful if maybe you could make some recommendations. Or better yet, the other major political party did so with actual policy proposals. Crickets.
When is it a concern? Now. What am I doing? Tightening my belt. Driving less. Not carrying credit card debt. Cutting back on eating out and travel. Fuck, I remember my parents not being able to afford coffee and OJ and instant coffee and tang was like toilet paper during Covid. Gas went from $.35 a gallon to $1.00. Inflation ran 16% and interest rates went to 13%. Or vice versa. What happened? Carter was one term and Ronny Rayguns and a dem controlled Congress gutted social spending, increased the military and exploded the deficit. Took 6 years to get out of it and what we were left with was tax cuts for the wealthy and ketchup as a vegetable in school lunch programs. “Government is the problem.”
Ask Elon and Bezos to bail us out. Because the repubs have no solutions.
Lol. I’m sure this would be your attitude and response if Biden had lost. “I don’t know? Do the other guys have a solution? Do you , an average citizen have a plan? No? Ok. Then get over it”.
Does anyone on here have any idea on what Biden can do about any of your concerns? Stock market? Inflation? Gas prices? War in Ukraine? Covid? Unpresidented times but it’d be helpful if maybe you could make some recommendations. Or better yet, the other major political party did so with actual policy proposals. Crickets.
When is it a concern? Now. What am I doing? Tightening my belt. Driving less. Not carrying credit card debt. Cutting back on eating out and travel. Fuck, I remember my parents not being able to afford coffee and OJ and instant coffee and tang was like toilet paper during Covid. Gas went from $.35 a gallon to $1.00. Inflation ran 16% and interest rates went to 13%. Or vice versa. What happened? Carter was one term and Ronny Rayguns and a dem controlled Congress gutted social spending, increased the military and exploded the deficit. Took 6 years to get out of it and what we were left with was tax cuts for the wealthy and ketchup as a vegetable in school lunch programs. “Government is the problem.”
Ask Elon and Bezos to bail us out. Because the repubs have no solutions.
Lol. I’m sure this would be your attitude and response if Biden had lost. “I don’t know? Do the other guys have a solution? Do you , an average citizen have a plan? No? Ok. Then get over it”.
I haven’t heard anyone with a plan. It’s unpresidented times. The repubs have been checked out of “plans” since 2010, I’m still waiting for that better, cheaper, more beautiful healthcare plan than Obamacare and what might you suggest Biden do regarding any of Cincy’s concerns. Take over oil exploration and refining? Seize industry? Control the weather? Tell Putin on the ritz he can have Ukraine? Invade Saudi? Stop trading on the exchanges? Go door to door vaccinating the refuse to be vaccinated? Work in China? Tell India to export their wheat or just take it from them?
LOL indeed. Deal with it is correct because what is the alternative? Do you even know what actions the Biden Administration has taken to address any of Cincy’s concerns? LOL.
I haven’t heard anything about the previous log jams and all the container ships sitting off shore to be unloaded. What happened? Ships stop coming to the US? Or did the Biden Administration do something to alleviate the issue? Or not?
Does anyone on here have any idea on what Biden can do about any of your concerns? Stock market? Inflation? Gas prices? War in Ukraine? Covid? Unpresidented times but it’d be helpful if maybe you could make some recommendations. Or better yet, the other major political party did so with actual policy proposals. Crickets.
When is it a concern? Now. What am I doing? Tightening my belt. Driving less. Not carrying credit card debt. Cutting back on eating out and travel. Fuck, I remember my parents not being able to afford coffee and OJ and instant coffee and tang was like toilet paper during Covid. Gas went from $.35 a gallon to $1.00. Inflation ran 16% and interest rates went to 13%. Or vice versa. What happened? Carter was one term and Ronny Rayguns and a dem controlled Congress gutted social spending, increased the military and exploded the deficit. Took 6 years to get out of it and what we were left with was tax cuts for the wealthy and ketchup as a vegetable in school lunch programs. “Government is the problem.”
Ask Elon and Bezos to bail us out. Because the repubs have no solutions.
Lol. I’m sure this would be your attitude and response if Biden had lost. “I don’t know? Do the other guys have a solution? Do you , an average citizen have a plan? No? Ok. Then get over it”.
If Biden had lost and POOTWH were in office, two things would be true: everything would be much worse and the Dems in Congress would be offering alternative policy proposals and suggestions and not be a party of white grievances.
2023 and 2025 will be brilliant brilliance in all its brilliancy. Good luck.
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
Then seek out information from reputable news sources on both the challenges and Biden’s response and then compare it to what the repubs in Congress are doing or proposing. Some must think Biden is like Little Rocket Man and can do whatever he wants to fix things.
I think your frustrations are misplaced and misdirected.
Here’s the repub response to everything, every challenge that faces Americans:
Tax cuts for the wealthy and corporations Gutting of regulations and oversight small government More power to the states Rugged individualism
So why is it only applicable when times are good? And I realize that they’re not your problems alone but a large portion of the American public is miss and/or ill informed as to the underlying causes and solutions.
300 people a day are still dying from Covid, vast majority among the unvaccinated despite a vaccine readily available. Blame Brandon.
China has locked down key manufacturing cities. Blame Brandon.
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
There's truth and there is political reality. The truth is that the president has little to do with economic conditions, along with managing a recession. Economics are cyclical and the Fed fundamentally owns and controls all the tools to manage the economy. The political reality is that the voters, right or wrong, blame or give credit to the president.
So Biden will be punished, fair or not. But I can tell you that it doesn't change my vote simply because this is correlation, not causation.
take Ukraine. There is a war going on and the fact there are social costs should be obvious. Russia is going to do what Russia is going to do and we can either ignore it and watch it expand and get worse or intervene to help stop it. Either way it’s a war. The fact that the biggest war since WWII is happening in Europe it’s madness to say bad things won’t happen to our economy. You should expect to pay a price, and be happy that price isn’t higher as WWII caused far worse sacrifices of the American public, but they were also willing to do it
The bush tax cuts during the Iraq war to me was the turning point on this. It was the only time in history taxes were cut during a war. The expectation was set, we can be in a conflict and not ask the public to sacrifice anything to fund that conflict. Having no skin in the game became basically official policy
Covid, excessive growth coming off covid which in and of itself causes inflation and we are where we are
it’s also important to remember tax cuts are inflationary and tax increases are deflationary. The first thing republicans will do is cut taxes. That doesn’t help.
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
There's truth and there is political reality. The truth is that the president has little to do with economic conditions, along with managing a recession. Economics are cyclical and the Fed fundamentally owns and controls all the tools to manage the economy. The political reality is that the voters, right or wrong, blame or give credit to the president.
So Biden will be punished, fair or not. But I can tell you that it doesn't change my vote simply because this is correlation, not causation.
This is the only answer, yes. At the end of the day things are fucked royally due to covid and it's going to be a looonnng time till it course corrects in the traditional sense. But, with that said, voters don't give a shit about that.
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
There's truth and there is political reality. The truth is that the president has little to do with economic conditions, along with managing a recession. Economics are cyclical and the Fed fundamentally owns and controls all the tools to manage the economy. The political reality is that the voters, right or wrong, blame or give credit to the president.
So Biden will be punished, fair or not. But I can tell you that it doesn't change my vote simply because this is correlation, not causation.
It likely won’t change my vote either given who the GOP is likely to throw out there…but it seems like there are a bunch of people where it could Change their vote…no? That was my initial point. So, since that is a reality…what can Biden do to put himself/party in the best position in the mid terms and then for re-election.
I’ve seen nothing from anyone here. Most just say the GOP doesn’t have a plan, don’t care at this point cause gop doesn’t have the presidency. You’ve been consistent and I understand, but there have to be some levers to pull that could do something no? I’ve read a bunch but it really seems like most sources are biased one way or the other so tough to really know.
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
There's truth and there is political reality. The truth is that the president has little to do with economic conditions, along with managing a recession. Economics are cyclical and the Fed fundamentally owns and controls all the tools to manage the economy. The political reality is that the voters, right or wrong, blame or give credit to the president.
So Biden will be punished, fair or not. But I can tell you that it doesn't change my vote simply because this is correlation, not causation.
It likely won’t change my vote either given who the GOP is likely to throw out there…but it seems like there are a bunch of people where it could Change their vote…no? That was my initial point. So, since that is a reality…what can Biden do to put himself/party in the best position in the mid terms and then for re-election.
I’ve seen nothing from anyone here. Most just say the GOP doesn’t have a plan, don’t care at this point cause gop doesn’t have the presidency. You’ve been consistent and I understand, but there have to be some levers to pull that could do something no? I’ve read a bunch but it really seems like most sources are biased one way or the other so tough to really know.
They absolutely have to throw the breaks on the economy. That’s the lever and it’s going to be ugly and they have been moving way too slow.
jobs will be lost, growth will stop, stocks will get hammered. Inflation will go down
who wants to run on that? It’s a stimulus in reverse
I'm pretty nervous about all of this. Not that much for my 401k, etc as I have plenty of time for a rebound. But there are a lot of people who don't. This plus gas prices plus inflation....all hitting everyone in various manners. This is a death blow to the mid-terms and the next presidential election if it doesn't get under control. And if that happens, we are going to have a very socially conservative leader and congress.....scary.
have there been any other countries that have handled this better than we have? last i checked inflation is much worse in the EU countries. maybe we should model after countries that have done a better job. i am not sure if any have though. has anybody heard of a better way? because i am all ears.
So do you think come election time this is the narrative? I don’t think so. And that’s my concern.
Let me ask you, how are you willing to give Biden on these issues, gas aside? When does it start to be a concern for you?
i do not think it will be the narrative come election time. i think the narrative will be "look what we have accomplished in all these other areas. inflation is a global issue but we have handled and gotten through it better than most countries on the planet. you can either vote for us to continue to navigate through this difficult time, or you can vote for the gop that will only give tax breaks to millionaires, further erode women's rights, and do absolutely nothing for the common citizen. remember how it was under trump. do you really want to go back to that?"
biden does not have control over a lot of it. the gas issue is corporate greed and price gouging. how can anybody combat that? i am concerned with how things are going. but coming out of a pandemic there are going to be supply chain issues. everybody knew that. i do not think you can hold biden specifically responsible for that. that said, i am getting concerned because the gop, for all of their faults, will probably take back both chambers and impeach biden over the hunter laptop thing.
"You can tell the greatness of a man by what makes him angry." - Lincoln
First of all, these are not my concern alone. If you think they are you haven’t been paying attention. It is the reality. It’s funny when the “buck stops here” and when it doesn’t for some.
And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
There's truth and there is political reality. The truth is that the president has little to do with economic conditions, along with managing a recession. Economics are cyclical and the Fed fundamentally owns and controls all the tools to manage the economy. The political reality is that the voters, right or wrong, blame or give credit to the president.
So Biden will be punished, fair or not. But I can tell you that it doesn't change my vote simply because this is correlation, not causation.
It likely won’t change my vote either given who the GOP is likely to throw out there…but it seems like there are a bunch of people where it could Change their vote…no? That was my initial point. So, since that is a reality…what can Biden do to put himself/party in the best position in the mid terms and then for re-election.
I’ve seen nothing from anyone here. Most just say the GOP doesn’t have a plan, don’t care at this point cause gop doesn’t have the presidency. You’ve been consistent and I understand, but there have to be some levers to pull that could do something no? I’ve read a bunch but it really seems like most sources are biased one way or the other so tough to really know.
Absolutely- there was already an expectation that the Dems would get slaughtered in the midterms. Plus, people are insane and will vote to somehow have Rs lower gas prices for their obscene gigantic truck that costs $500 to fill.
The only saving grace is that Roe is on the table and there are some very very extreme candidates on the ballot like in my state (PA).
I'm pretty nervous about all of this. Not that much for my 401k, etc as I have plenty of time for a rebound. But there are a lot of people who don't. This plus gas prices plus inflation....all hitting everyone in various manners. This is a death blow to the mid-terms and the next presidential election if it doesn't get under control. And if that happens, we are going to have a very socially conservative leader and congress.....scary.
have there been any other countries that have handled this better than we have? last i checked inflation is much worse in the EU countries. maybe we should model after countries that have done a better job. i am not sure if any have though. has anybody heard of a better way? because i am all ears.
So do you think come election time this is the narrative? I don’t think so. And that’s my concern.
Let me ask you, how are you willing to give Biden on these issues, gas aside? When does it start to be a concern for you?
i do not think it will be the narrative come election time. i think the narrative will be "look what we have accomplished in all these other areas. inflation is a global issue but we have handled and gotten through it better than most countries on the planet. you can either vote for us to continue to navigate through this difficult time, or you can vote for the gop that will only give tax breaks to millionaires, further erode women's rights, and do absolutely nothing for the common citizen. remember how it was under trump. do you really want to go back to that?"
biden does not have control over a lot of it. the gas issue is corporate greed and price gouging. how can anybody combat that? i am concerned with how things are going. but coming out of a pandemic there are going to be supply chain issues. everybody knew that. i do not think you can hold biden specifically responsible for that. that said, i am getting concerned because the gop, for all of their faults, will probably take back both chambers and impeach biden over the hunter laptop thing.
In a lot of ways no. But that reasoning will bring a lot of people around to remembering $100 grocery shops, $2.50 gallon of gas, etc. Obviously these things are due to covid and global situations, but "remember how It was under trump" isn't a sure fire home run. A lot of people will be harkening back to the pre Covid pre leftist marxist anti freedom lockdown days and will remember that compared to now things weren't that bad.
If a main cause of high inflation is energy prices, why wouldn’t the expectation be US inflation is a bit higher than the other G20 nations?
I love the GOP screaming about inflation, but they insisted this country be build as a car driving empire, while fighting mass transit projects for decades, and now fighting renewable energy alternatives - leaving the US highly vulnerable to oil price spikes
If a main cause of high inflation is energy prices, why wouldn’t the expectation be US inflation is a bit higher than the other G20 nations?
I love the GOP screaming about inflation, but they insisted this country be build as a car driving empire, while fighting mass transit projects for decades, and now fighting renewable energy alternatives - leaving the US highly vulnerable to oil price spikes
Also energy prices are a global market.
you cannot produce more domestically to somehow separate it from the global market.
Refineries can’t just refine all kinds of oil anyway as they aren’t set up that way. That’s why we export oil and still import oil from elsewhere.
Different types of oil are also used for different things. Oil isn’t all the same
I would suspect as larger per capita users of oil, the US is probably more exposed energy price increases. Gas in Europe is astronomically more expensive but you can choose not to drive and still get where you need to go
The others mentioned, interest is a result of the current economic conditions, and as far as labor increases, the article discusses lower wage workers leaving jobs driving up costs…states were raising minimum wage laws about five years before the current inflation trend began, so im not convinced the $15/hour Big Mac workers are impacting as much as energy is in the states.
I agree nothing is 100%, which is what makes politics so difficult. I see the current rise in green energy as a big contributor to rising energy prices - oil and gas industries are investing less in exploration and drilling, choosing to instead maximize profit taking with the coming renewable revolution, yet very few agree it is a primary reason.
The others mentioned, interest is a result of the current economic conditions, and as far as labor increases, the article discusses lower wage workers leaving jobs driving up costs…states were raising minimum wage laws about five years before the current inflation trend began, so im not convinced the $15/hour Big Mac workers are impacting as much as energy is in the states.
I agree nothing is 100%, which is what makes politics so difficult. I see the current rise in green energy as a big contributor to rising energy prices - oil and gas industries are investing less in exploration and drilling, choosing to instead maximize profit taking with the coming renewable revolution, yet very few agree it is a primary reason.
I still believe that the Oil and Gas companies are keeping prices high to drive inflation and make Dems and Biden look bad.
The others mentioned, interest is a result of the current economic conditions, and as far as labor increases, the article discusses lower wage workers leaving jobs driving up costs…states were raising minimum wage laws about five years before the current inflation trend began, so im not convinced the $15/hour Big Mac workers are impacting as much as energy is in the states.
I agree nothing is 100%, which is what makes politics so difficult. I see the current rise in green energy as a big contributor to rising energy prices - oil and gas industries are investing less in exploration and drilling, choosing to instead maximize profit taking with the coming renewable revolution, yet very few agree it is a primary reason.
I still believe that the Oil and Gas companies are keeping prices high to drive inflation and make Dems and Biden look bad.
Oil and gas have had terrible returns over the last decade Vs other publicly traded companies. Now that they are making record profits they are not in a rush to expand capital spending.
These big projects take 10 plus years and billions of dollars. It’s not quick either
I know for sure a lot of projects got scaled back 2015-ish after the fall of oil. It’s those projects that would be operational today
no matter how you look at it oil is boom and bust and usually when they should be investing is the same time they can’t
The others mentioned, interest is a result of the current economic conditions, and as far as labor increases, the article discusses lower wage workers leaving jobs driving up costs…states were raising minimum wage laws about five years before the current inflation trend began, so im not convinced the $15/hour Big Mac workers are impacting as much as energy is in the states.
I agree nothing is 100%, which is what makes politics so difficult. I see the current rise in green energy as a big contributor to rising energy prices - oil and gas industries are investing less in exploration and drilling, choosing to instead maximize profit taking with the coming renewable revolution, yet very few agree it is a primary reason.
I still believe that the Oil and Gas companies are keeping prices high to drive inflation and make Dems and Biden look bad.
Oil and gas have had terrible returns over the last decade Vs other publicly traded companies. Now that they are making record profits they are not in a rush to expand capital spending.
These big projects take 10 plus years and billions of dollars. It’s not quick either
I know for sure a lot of projects got scaled back 2015-ish after the fall of oil. It’s those projects that would be operational today
no matter how you look at it oil is boom and bust and usually when they should be investing is the same time they can’t
So where does record setting profits come into this? Surely a time of record profits during catastrophic inflation isn't a great time to make the case that they just have no control over the price at the pump. What if say they kept prices lower at the pump and only raked in normal profits, everybody wins.
The others mentioned, interest is a result of the current economic conditions, and as far as labor increases, the article discusses lower wage workers leaving jobs driving up costs…states were raising minimum wage laws about five years before the current inflation trend began, so im not convinced the $15/hour Big Mac workers are impacting as much as energy is in the states.
I agree nothing is 100%, which is what makes politics so difficult. I see the current rise in green energy as a big contributor to rising energy prices - oil and gas industries are investing less in exploration and drilling, choosing to instead maximize profit taking with the coming renewable revolution, yet very few agree it is a primary reason.
I still believe that the Oil and Gas companies are keeping prices high to drive inflation and make Dems and Biden look bad.
Oil and gas have had terrible returns over the last decade Vs other publicly traded companies. Now that they are making record profits they are not in a rush to expand capital spending.
These big projects take 10 plus years and billions of dollars. It’s not quick either
I know for sure a lot of projects got scaled back 2015-ish after the fall of oil. It’s those projects that would be operational today
no matter how you look at it oil is boom and bust and usually when they should be investing is the same time they can’t
So where does record setting profits come into this? Surely a time of record profits during catastrophic inflation isn't a great time to make the case that they just have no control over the price at the pump. What if say they kept prices lower at the pump and only raked in normal profits, everybody wins.
Oil prices are set by the market not oil companies.
An oil company can’t say I’m selling oil only at X price. OPEC is a bit different
Oil companies sold oil at a loss very recently, especially for projects with a higher break even. It’s drilled and it’s coming out of the ground no matter what. You sell it at the price the market pays
you cannot simply turn a well off when prices are low and turn it on when prices are high
The cost of a gallon of gas is about 50% the cost of the actual oil… the rest of the price you pay is a lot of other stuff
I’m not sure the statement, “you can’t simply turn a well off when prices are low and turn it on when prices are high,” is completely accurate. I believe wells are taken out of service and capped as a business practice and as most things, it’s complicated, particularly when it comes to oil production, domestic versus foreign, on shore versus off and “exploration” versus “producing.”
Wells that produce, have recouped their initial investment and have known reserves may be capped if the price of oil dips below production costs. Another factor to consider for those clamoring for more domestic oil production is that US oil fields aren’t all that gushing, I.e. they don’t produce a lot to offset costs quickly, requiring longer long term ROI.
I’m not sure the statement, “you can’t simply turn a well off when prices are low and turn it on when prices are high,” is completely accurate. I believe wells are taken out of service and capped as a business practice and as most things, it’s complicated, particularly when it comes to oil production, domestic versus foreign, on shore versus off and “exploration” versus “producing.”
Wells that produce, have recouped their initial investment and have known reserves may be capped if the price of oil dips below production costs. Another factor to consider for those clamoring for more domestic oil production is that US oil fields aren’t all that gushing, I.e. they don’t produce a lot to offset costs quickly, requiring longer long term ROI.
Damn you Brandon! Make more oil flow faster!
To cap a well you run the risk of never getting that production back, and/or to severely reduce future output. In certain countries they burn oil rather than cap a well if they don’t want to sell it. A lot of it depends on geology. Middle East wells have very different geology than most places. Capping a deep water well in the ocean is another example of wells you aren’t shutting down.
Usually what happens here is an unprofitable well is sold from a major to a small independent who then runs the well in the cheapest way possible and doesn’t maintain it in order to make the economics work. That creates all kinds of problems later but the well generally continues producing
once you cap the well the rocks that are porous that you are drilling through get clogged with the mud you use to cap it. That oil isn’t ever coming out of those rocks after that. Pressures in the well change too. Sometimes you can inject the wells with chemicals but no one wants to do that
at the end of the day, people don’t blame farmers for the price of wheat. It’s probably a good time to be a wheat farmer. As soon as they plant they pretty much are selling at harvest time no matter what the market price in the commodities market for wheat is
Oil prices will go back down as exploration increases, then at some point the market gets oversaturated and prices will crash again. It’s cyclical and everyone is pissed when prices are high and no one says a word when oil is at 30 a barrel and it costs 40 to extract that barrel
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When is it a concern? Now. What am I doing? Tightening my belt. Driving less. Not carrying credit card debt. Cutting back on eating out and travel. Fuck, I remember my parents not being able to afford coffee and OJ and instant coffee and tang was like toilet paper during Covid. Gas went from $.35 a gallon to $1.00. Inflation ran 16% and interest rates went to 13%. Or vice versa. What happened? Carter was one term and Ronny Rayguns and a dem controlled Congress gutted social spending, increased the military and exploded the deficit. Took 6 years to get out of it and what we were left with was tax cuts for the wealthy and ketchup as a vegetable in school lunch programs. “Government is the problem.”
Ask Elon and Bezos to bail us out. Because the repubs have no solutions.
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Climate change
Unpredictable weather events, such as droughts that damage crops and storms that upend trade routes, are increasingly seen as a key factor in the rising cost of living.
In India, the government has responded to a record-setting heat wave that put a strain on millions with a ban on wheat exports. The country, which accounts for nearly a third of the world’s wheat supply, had previously pledged to help “feed the world” amid the ongoing food crisis, Prime Minister Narendra Modi said earlier this month.
But after temperatures unexpectedly soared in a heat wave that scientists said was made worse by the changing global climate, those exports were blocked.
India is just the latest country hit by extreme weather that destroyed crops: Brazil, another major food exporter, suffered through drought last year that hit its agricultural industry. The country’s inflation reached over 12 percent in April. And it’s not just food prices that are affected. Lumber is more expensive after floods and fires in British Columbia, leading to knock-on effects in housing and construction.
And at the same time, efforts to transition to a green economy are putting more pressure on prices for commodities such as lithium used for batteries and copper for wiring and computer chips.
Many experts say that this “greenflation” should be temporary and that a green economy ultimately will be less vulnerable to energy shocks, but the short-term expense of the moves could derail the move toward that economy.
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Go door to door vaccinating the refuse to be vaccinated? Work in China? Tell India to export their wheat or just take it from them?
LOL indeed. Deal with it is correct because what is the alternative? Do you even know what actions the Biden Administration has taken to address any of Cincy’s concerns? LOL.
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https://www.usatoday.com/story/news/factcheck/2021/10/29/fact-check-image-shows-moving-ships-around-california-not-waiting/8569510002/
https://www.factcheck.org/2021/10/posts-spread-baseless-claims-about-cause-of-cargo-ship-backups/
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2023 and 2025 will be brilliant brilliance in all its brilliancy. Good luck.
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And it was a real question to gimmie. Knowing he hates republicans, how long can this go on before someone like him is mad or worried? How long is the leash? Cause with big problems it does take time to see results. But Biden doesn’t have a lot of time. The pandemic also didn’t sneak up on him. He knew it….I’d be interested in what it seems like he thinks he can do to help.
I think your frustrations are misplaced and misdirected.
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Tax cuts for the wealthy and corporations
Gutting of regulations and oversight
small government
More power to the states
Rugged individualism
So why is it only applicable when times are good? And I realize that they’re not your problems alone but a large portion of the American public is miss and/or ill informed as to the underlying causes and solutions.
300 people a day are still dying from Covid, vast majority among the unvaccinated despite a vaccine readily available. Blame Brandon.
China has locked down key manufacturing cities. Blame Brandon.
OPEC won’t increase oil production. Blame Brandon.
And the list goes on and on. Ridiculous.
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So Biden will be punished, fair or not. But I can tell you that it doesn't change my vote simply because this is correlation, not causation.
take Ukraine. There is a war going on and the fact there are social costs should be obvious. Russia is going to do what Russia is going to do and we can either ignore it and watch it expand and get worse or intervene to help stop it. Either way it’s a war. The fact that the biggest war since WWII is happening in Europe it’s madness to say bad things won’t happen to our economy. You should expect to pay a price, and be happy that price isn’t higher as WWII caused far worse sacrifices of the American public, but they were also willing to do it
The bush tax cuts during the Iraq war to me was the turning point on this. It was the only time in history taxes were cut during a war. The expectation was set, we can be in a conflict and not ask the public to sacrifice anything to fund that conflict. Having no skin in the game became basically official policy
it’s also important to remember tax cuts are inflationary and tax increases are deflationary. The first thing republicans will do is cut taxes. That doesn’t help.
Change their vote…no? That was my initial point. So, since that is a reality…what can Biden do to put himself/party in the best position in the mid terms and then for re-election.
jobs will be lost, growth will stop, stocks will get hammered. Inflation will go down
who wants to run on that? It’s a stimulus in reverse
biden does not have control over a lot of it. the gas issue is corporate greed and price gouging. how can anybody combat that? i am concerned with how things are going. but coming out of a pandemic there are going to be supply chain issues. everybody knew that. i do not think you can hold biden specifically responsible for that. that said, i am getting concerned because the gop, for all of their faults, will probably take back both chambers and impeach biden over the hunter laptop thing.
"Well, you tell him that I don't talk to suckas."
The only saving grace is that Roe is on the table and there are some very very extreme candidates on the ballot like in my state (PA).
There are no kings inside the gates of eden
https://www.statista.com/statistics/1034154/monthly-inflation-rates-developed-emerging-countries/
I love the GOP screaming about inflation, but they insisted this country be build as a car driving empire, while fighting mass transit projects for decades, and now fighting renewable energy alternatives - leaving the US highly vulnerable to oil price spikes
you cannot produce more domestically to somehow separate it from the global market.
Different types of oil are also used for different things. Oil isn’t all the same
I would suspect as larger per capita users of oil, the US is probably more exposed energy price increases. Gas in Europe is astronomically more expensive but you can choose not to drive and still get where you need to go
https://www.nbcnews.com/business/consumer/inflation-rate-higher-consumer-prices-driving-forces-rcna24128
I agree nothing is 100%, which is what makes politics so difficult. I see the current rise in green energy as a big contributor to rising energy prices - oil and gas industries are investing less in exploration and drilling, choosing to instead maximize profit taking with the coming renewable revolution, yet very few agree it is a primary reason.
There are no kings inside the gates of eden
I know for sure a lot of projects got scaled back 2015-ish after the fall of oil. It’s those projects that would be operational today
no matter how you look at it oil is boom and bust and usually when they should be investing is the same time they can’t
There are no kings inside the gates of eden
you cannot simply turn a well off when prices are low and turn it on when prices are high
The cost of a gallon of gas is about 50% the cost of the actual oil… the rest of the price you pay is a lot of other stuff
https://www.eia.gov/petroleum/wells/
Wells that produce, have recouped their initial investment and have known reserves may be capped if the price of oil dips below production costs. Another factor to consider for those clamoring for more domestic oil production is that US oil fields aren’t all that gushing, I.e. they don’t produce a lot to offset costs quickly, requiring longer long term ROI.
Damn you Brandon! Make more oil flow faster!
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at the end of the day, people don’t blame farmers for the price of wheat. It’s probably a good time to be a wheat farmer. As soon as they plant they pretty much are selling at harvest time no matter what the market price in the commodities market for wheat is
Oil prices will go back down as exploration increases, then at some point the market gets oversaturated and prices will crash again. It’s cyclical and everyone is pissed when prices are high and no one says a word when oil is at 30 a barrel and it costs 40 to extract that barrel