Inflation at its highest in 40 years…

You do understand how global commodities work? You do understand inflation is everywhere?

If you don't just say so....

 

I guess not a lot folks knowledgeable about oil and commodities.... . odd given the Rocket's location in the Energy Capitol.

 

Spoiler: Trucker Convoy part II

 

Apparently America's refining capacity is a known bottleneck and is also at play here for the high prices.

And this is a gat dam joke. Meanwhile, we're giving Saudis the good ol reach around while figuring out a script to declare Venezuelans our friends again.

"What likely happened was Reliance took on a discounted cargo of Russian crude, refined it and then sold the product on the short-term market where it found a U.S. buyer,”​

WSJ News Exclusive | Russian Oil Producers Stay One Step Ahead of Sanctions

 

@adoo keeps insisting everything is fine.

Either he can't think for himself, he has no idea what he is talking about or he is a boring troll. Or all three.

 

Much easier to just post tweets and memes than actually think through policy issues.

 

Those things happened when Trump was President.

These things were campaign policies that haven't actually happened. Besides which, lack of drilling potential is not an issue in the US anyway.

Plus, none of these accounted for Russia invading Ukraine.

 

And yet US oil output is the highest in its history, while OPEC cut production by 20 million barrels at the behest of Trump.

Huh.

 

Consumer sentiment. If you are getting up on your global high horse claiming an end to fossil fuels and stating inflation is transitory after a massive monetary 4 trillion sugar high, dont be surprised if your nemesis takes advantage of the idiotic rhetoric and creates a global energy short squeeze.

Reality always trumps ideology. We are not getting off fossil fuels anytime soon and its stupid to shut down nuclear power plants and claim you're not going to expand energy exploration.

Remember when Democrats moaned and cried because Trump pushed tariffs on Chinese goods? LIberals are terrible at economics due to their fantasy beliefs.

 

So you want to tell us how tariffs were good economically and helped stop fight inflation?

 

you need to stop lying / improve on your reading comprehension

 

Democrats? You mean ECONOMISTS!

We literally paid farmers 13.5bn in subsidies, to cover the loss of chinese purchasing those beans, and we BORROWED that 13.5bn from China....so instead of selling them something we literally went into DEBT to let them rot.

This is ****ING INSANE thinking.

And maybe too far above some people's comprehension.

DD

 

Are we really surprised by any of this?
What did everyone expect..shut down the world for 2 years and nothing would get affected?

the fake bull run by the markets had everyone fooled to thinking it was all ok. Now everyone’s about to pay the price for those gains

 

Poll: More Than Half Say Biden Intentionally Letting Gas Prices Soar

More than half — 53% — of voters say they believe the Biden administration is intentionally letting gas prices increase to make Americans use less fossil fuels, according to a new poll by Convention of States Action and The Trafalgar Group.

Just over 39.6% say they don’t believe it.

They poll asked 1,091 general election voters if they believe the administration is intentionally letting gas prices rise to make Americans use less fossil fuels:

• 77.3% of Republicans say they believe it, compared to 12.9% who say they don't. Just under 10% were uncertain.
• 24.8% of Democrats say they believe it, while 68.7% say they don't. Another 6.5% were uncertain.
• 56.5% of independents say they believe it, compared to 37.6% who say the don't. Just under 6% were uncertain.

"Surging gas prices are creating immense hardships both for everyday Americans and for our economy at large," said Mark Meckler, president of Convention of States Action. "The hard-to-fathom, surreal idea that Washington, D.C., is working against the American people explains why [President Joe] Biden’s poll numbers are in the tank."

The poll was conducted May 25-29. It has a margin of error of plus or minus 2.9 percentage points.

 

Anybody else remember when Bush set national debt records with his tax cuts and the response was "we'll just infate our way out of debt" and conservatives loved it?

Because I still do.

 

Sure. Manufacturing went to other Asian and south American countries instead of being locked in China.