Biden's energy policies (limiting oil & gas spending and production) and spending policies ($6 trillion in COVID stimulus on top of the Fed's all-time record easy money policies) have given Putin incredible leverage over the global economy. We could be looking at $175/bbl oil this year -- and $8/gallon gasoline in Texas. A recession is soon to follow.
it'd behoove you to heed the sage advise of Abe Lincoln. It's better to remain silent and be thought of as a fool than to speak up to remove all doubts !
While the post you’re quoting isn’t all that accurate in regards to oil production and etc., you’re crazy if you don’t think a recession is on the horizon.. Biden is asking companies to produce because he and his cabinet implemented idiotic policies to get rid of drilling and oil, then is dealing with Russia and their stupidity, as well as Covid fallout, and the previous administrations creation for this inflation (tariffs, etc.). Even with that, there’s several factors going against him, specifically in the energy sector - outside of his and his peers “no more drilling” propaganda. That’s a whole other topic though. 1) Drillers and producers are being smart about how they drill and produce these days.. In the past, many of these companies would over-leverage themselves jumping from drill site to drill site and then file bankruptcy when the bust happens.. it’s been cyclical for as long as it has existed. 2) These companies are doing this because investors want a ROI. This is a result of retail investors having access to robbinghoods, et al. of the world turning stock markets into a slot machine. Ideally, this approach makes sense if you’re looking for a longer investment in energy, but it’s just prolonging the cyclical nature of the industry as a whole. Maybe the bust/recession is not as harmful to the economy and as drastic as the past.. but I’d hedge on it being pretty similar with a housing bust to tag along.. I don’t think anyone knows how to fix this without a “reset” and unfortunately that seems like a common occurrence with the US political bullshit that’s dividing the country more and more every day.
But we were told Putin only invaded Ukraine to rebuild the glorious USSR and invade the rest of Europe. Energy had absolutely nothing to do with it
do u even know what a recession is.? what is US's GDP growth rate? when was the last time the US was in a recession? earth to david, oil production is one aspect of the US's multi-faceted economy; you make it sound that's all it is, just off the top of my head, there is also farming, banking, software, transportation, healthcare, mfg, tourism, etc.
I agree with most. As for bolded, I don't know how much of the Dems regulatory red tape gets in the way of their bottom line, esp when the 2yr old Biden admin can't open the oil spigots like tapping a beer keg. If the industry could provide research into how many more dollars future regulations subtracts against profitability (like per barrel of WTI), I'd at least take that number as a frame because it gives customers and voters a semblance of real market risks for their ideological choices. On the surface, it just seems like no loss bellyaching since at best, they get free handouts and at worst, they get people railing against regulation without knowing these oil drillers are inherently debt driven and prone to booms and busts... anti-fragile af. "But added regs makes the market uncertain!" This is not their first 50 year rodeo. Gotta try harder than that.
What did Joe Biden say about bringing gas prices down in England? It's $8.17 there. That's his fault too right?
Perhaps you could learn to read and take your own advice philosophizer It's better to remain silent and be thought of as a fool than to speak up to remove all doubts ! I was specifically staying on the topic of the originally quoted post and quite frankly, the last several pages of this thread in general. Again, you are foolish if you don't think a recession is on the horizon.
Again, do u even know what a recession is.? what is US's GDP growth rate? when was the last time the US was in a recession? cluelessly regurgitating the word "recession", out of context, removes all doubts that you have no idea what UR talking about.
Nah... that would mean Americans would have to support a brutal and unjustified invasion of another country in hopes for cheaper gas.
Republicans don't give a ****. All they care about is their pocketbook. Look at how many were giving Putin weekly rimjobs during the Trump administration.
