Its almost as if he feels the economy is too stable. Meanwhile... https://www.news-journalonline.com/...s-proposal-waive-floridas-gas-tax/8717262002/
America isn’t headed toward lockdowns, say White House officials https://www.washingtonpost.com/nation/2021/11/23/covid-delta-variant-live-updates/ The United States is not headed for lockdowns like the ones facing European countries, even though coronavirus cases are rising with the arrival of winter, Jeff Zients, the White House coronavirus response coordinator, told reporters Monday. “We are not headed in that direction,” Zients said. The Biden administration has sought to avoid imposing lockdowns and has instead relied on the increased distribution of vaccine shots to curb the coronavirus. Even when the spread of the delta variant this summer was driving up new cases, President Biden and his senior health officials stressed their goal of avoiding lockdowns. Zients repeated that stance Monday, pointing to the increasing number of Americans getting vaccinated. “We have the tools to accelerate the path out of this pandemic: widely available vaccinations, booster shots, kids’ shots, therapeutics,” he said. New reportedly daily cases in the United States have risen by 10 percent in the past week, Washington Post figures show, reflecting the recent increases in colder regions of the country. Daily reported deaths rose during the same period by 5 percent, and hospitalizations by 4 percent.
In the end, won't OPEC win this war? Is not as if our strategic stockpile is big enough that we can influence prices for a whole year. I would assume there may be some short term effect, OPEC countries will lose some short term profits, but overall in the long term, they will continue making bank.
You're viewing it from the wrong angle. The US is losing its bargaining power to OPEC. Roughly 2/3's of oil is used in fuel and another 1/3 is used in other consumables. OPEC nations are becoming less and less valuable to the US and the rest of the world due to renewables and EV's. Their play should be to extract as much value for their oil in the short term while it still has value(Think Petro Dollar). The middle east knows we are not going to come attack them for their oil anymore so they are free to squeeze the market. As the global economy is now reacting in near real time vs months or years, OPEC can use this to their advantage to help drive up gas prices, which further raises prices in an excessive inflationary environment. I dont claim to be a gifted boomer economist as some here and I certainly could be incorrect, but its clear the rules are changing.
No idea. Probably not a war at all. Guessing this is just a short-term relief since it seems OPEC+ can't produce more. Seem they are also struggling to return to peak operation due to the pandemic. They cut production by 10% (the US pushed them to) in 2020 due to low demand but didn't anticipate the economy would rebound this quickly and now can't produce fast enough (falling short of even their goal) - at the same time, they are concerned about producing too much leaving to excess inventories in 2022. In the long run, OPEC+ will be less relevant anyway with the world moving toward cleaner energy. BTW, the announcement is in. US will release 50m barrels. China, India, SK, Japan, and UK will also release from their reserve.
I have to admit I don't understand the oil industry and complexities in production but this seems like an important analysis...
The oil release is just a short term move and probably wont do too much. Also the oil patch isn’t just some singular voice. Refiners for example, will make more money selling their US petro products overseas. Do we stop exports? A lot of this is because the domestic oil patch caused the biggest supply glut in history which caused the largest oil bust since the 80s. This finally popped in 2019 and if you lived in Houston you felt it with all the white collar jobs vanishing. That isn’t to say that Biden/Dems have a prudent plan for the transition to cleaner energy. Also to be clear, the GOP/conservative plan is just to criticize.
Weekly jobless claims post stunning decline to 199,000, the lowest level since 1969 https://www.cnbc.com/2021/11/24/us-...-just-199000-the-lowest-level-since-1969.html Thanks Obama, Trump, Biden?
He has officially changed his name to Brandon. Jill has been crying and begging people to stop chanting " Let's go Brandon " because her husband started to think his name is Brandon. Jill cannot stop the will of the American people so she just said "fukk it, I'm going to file for a name change". Thanks Brandon!
Why is it hard for you to celebrate good job numbers? Are you so programed by your tribe that you can't acknowledge any good news for the "other side"
