It is too bad for BLS & Moody Analytics if Mark Zandi is correctly using it. I do not believe it though. We could discuss Energy Regulation = 0%, although it is quite obvious that this regulation is inflating the energy prices. We cannot discuss Money Supply = 0%. The helicopter policies used by the last 3 presidents are the main reason for the inflation. It is stupid to deny it. You cannot print money uncontrollably without consequences.
Dont like Inflation? Blame the Democrats, they support High Energy Prices
- Thread starter wildchild
- Start date
Don't be ridiculous. We are not going to replay this issue in market hours just because you want to play dumb.
For starters, just do the reverse of whatever Biden is doing and you will be off to a good start. Ditto for immigration.
We haven't built a refinery in decades for crissake and probably never will because we are supposed to be green even though that flopped. So we don't even know how the hell we could refine the oil if we did increase it.
We can discuss all of the above. The biggest problem I see to a lot of these discussions is people are tied to misperceptions and inaccuracies, and when we use data to try to get to some accurate assessment people become offended.
Lets look at oil. Oil gets sold on the open global market, fact. America is the largest oil producer in the world, fact. If america increases its oil production that will be sold on the global market. America produces 15,000,000 barrels of oil per day, fact. Global oil production is 90,000,000 barrels per day. How many more barrels per day does the US need to produce to drop the global price of a barrel of oil?
Totally empty statement that just proves my point. You’re playing the I can parrot Fox News better than the other guy in a mindless game but when you get tested on why and how your brain short circuits.
Nope. Just not going for your bait.
If you have a boner for the topic. Let's come at it from the other way, shall we Cowboy.
You lay out some explanation of why I am "Another right winger for socializing America’s energy production" and I will look in later and correct you.
Also, I gave a specific example related to increasing oil refinery capacity and you refer to my reply as a "totally empty statement." You and Joe Biden think alike. He doesn't get it either.
UsualName, Are you saying that the Biden administration did not suppress the American oil industry? Are you serious? It was one of Biden's vows as a candidate and he totally executed it. Do you want me to find a quote from Biden on this topic? This is your friendly AP https://apnews.com/article/9dfb1e4c381043bab6fd0fa6dece3974. You are thoroughly trying to forget it together with Biden and his administration. It is an evil Big Oil conspiracy now. It does not work like that. We have a good memory.
We have refineries shutdown from 2020 because of the demand falloff that aren’t coming back online, nevermind building new ones. We also have oil Wells sitting idle. Nobody wants to make that investment with the expected explosion of the EV market. There may be an argument here that makes some sense arguing the federal government should take them over and contract them out but other than that the private sector is pretty much done expanding in this area due to the coming EV explosion. There’s also a labor shortage.
These issues are not due to regulations though. Refineries and producers are making huge profits. It’s the long term outlook.
Biden admin misses major oil lease deadline: 'an absolute disgrace'
https://www.foxbusiness.com/politics/biden-administration-misses-major-oil-lease-deadline
The Biden administration did not give an explanation after it missed its own deadline to plan future oil and gas lease sales Thursday.
Interior Secretary Deb Haaland vowed during a Senate hearing on May 19 to issue a legally-mandated program outlining proposed offshore lease sales over the next five years by Thursday. On Wednesday, Interior Department (DOI) spokesperson Melissa Schwartz confirmed the agency was "on track" to issue the plan by Thursday, according to E&E News.
"President Biden is hell-bent on choking off American oil and natural gas production," Senate Energy and Natural Resources Committee Ranking Member John Barrasso, R-Wyo., told Fox News Digital in a statement. "Now he has failed to follow the law and prepare a final five-year leasing plan by yesterday’s deadline. That means the federal government will not offer any new offshore oil and gas lease sales this year."
"This will be the first year since 1958 that has happened. Instead, the Biden administration has spent its time courting overseas dictators," he continued. "The White House has begged countries like Russia, Iran, and Venezuela for oil. It’s an absolute disgrace."
Under the 1953 Outer Continental Shelf Lands Act, the DOI is required to periodically issue five-year plans for offshore oil and gas lease sales. Historically, the plans have been issued on time by Democratic and Republican administrations and have included more than 10 lease sales stretching across federal waters in the Gulf of Mexico, Pacific, Atlantic and off the coast of Alaska.
The most recent plan, which went into effect in 2017, expired on Thursday. Without a plan, offshore lease sales, which produced more than 1.7 million barrels of oil per day last year, cannot be held.
https://www.foxbusiness.com/politics/biden-administration-misses-major-oil-lease-deadline
The Biden administration did not give an explanation after it missed its own deadline to plan future oil and gas lease sales Thursday.
Interior Secretary Deb Haaland vowed during a Senate hearing on May 19 to issue a legally-mandated program outlining proposed offshore lease sales over the next five years by Thursday. On Wednesday, Interior Department (DOI) spokesperson Melissa Schwartz confirmed the agency was "on track" to issue the plan by Thursday, according to E&E News.
"President Biden is hell-bent on choking off American oil and natural gas production," Senate Energy and Natural Resources Committee Ranking Member John Barrasso, R-Wyo., told Fox News Digital in a statement. "Now he has failed to follow the law and prepare a final five-year leasing plan by yesterday’s deadline. That means the federal government will not offer any new offshore oil and gas lease sales this year."
"This will be the first year since 1958 that has happened. Instead, the Biden administration has spent its time courting overseas dictators," he continued. "The White House has begged countries like Russia, Iran, and Venezuela for oil. It’s an absolute disgrace."
Under the 1953 Outer Continental Shelf Lands Act, the DOI is required to periodically issue five-year plans for offshore oil and gas lease sales. Historically, the plans have been issued on time by Democratic and Republican administrations and have included more than 10 lease sales stretching across federal waters in the Gulf of Mexico, Pacific, Atlantic and off the coast of Alaska.
The most recent plan, which went into effect in 2017, expired on Thursday. Without a plan, offshore lease sales, which produced more than 1.7 million barrels of oil per day last year, cannot be held.
Yup. Another graduate of the Joe Biden School of Energy Resource Management.
We allegedly dont need more oil (while Biden goes around the world with his begging bowl) and if we do produce or import more oil we don't have the refining capacity to convert it gasoline but Usual T confirms, as a Bide bootlicker, that there is no need to ever build or expand another refinery in America- because we are going green. Or that was the plan anyway and it did not work so we are doubling down on it.