Biden’s Scorecard

[Ibanez]

We’ve posted about those refineries- they were closing down regardless of who was at 1600 Penn.


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Biden's policies and stance did not help matters.

Oh certainly not. But the bigger contributing factor to many of them were high costs and lower margins. 2 of them failed to sell long before they were shut down.

[houndawg]

You know how you see people say "do your own research?" Most of the time they are not talking about doing their own research. Most of the time they are people who don't want to believe what mainstream information sources tell them so they find some not-so-reliable sources that tell them what they want to hear and call that doing their own research.

An example of doing your own research is doing something like going to the site at https://www.eia.gov/dnav/pet/hist/LeafH ... ashx?n=PET... and checking on US monthly crude oil production to see if the claim that Joe Biden cut US crude oil production is true.

It's not. You can just look at the table and see that crude oil production has generally risen since he took office. You can also do statistical tests and see that there is a "statistically significant" upward trend.

The truth is that US crude oil production had a big dip early in the COVID-19 thing. Since bottoming out in the dip in May, 2020, US crude oil production has been generally rising. And there was no significant change in the trend when Biden took office.

That's what you see if you actually DO do your own research.

At the end of 2020 crude oil production was over 13,000,000 barrels a day. And we were energy independent for the first time in decades. Yes, production dropped precipitously at the beginning of covid, down below 10,000,000 barrels a day, but then began climbing again (Trump was still president). It dropped precipitously AGAIN in early 2021 (right after Brandon’s inauguration and got even lower than it did at the beginning COVID, by the way), and then generally began slowly increasing. But REALITY is that under Brandon, crude oil production peaked in November at less than 12,000,000 barrels and has come down EVERY. SINGLE. MONTH. Since then. And even when increasing, the RATE of increase under Biden hasn’t even come close to under the last two years of the Trump administration. And production has never come CLOSE to where Trump’s administration had it prior to the “pandemic” being orchestrated by the left.

https://tradingeconomics.com/united-sta ... production

Themes the facts, Jack. I do this shit for a living.

Bonus points: Click on the 10 year graph and it REALLY shows the difference between a donk and a conk president strategy.

Why would the oil industry want to add supply and lower prices when they're enjoying record profits now? I mean, you do this shit for a living so explain why the oil companies wouldn't want prices to keep rising as they're doing right now? Why would anybody with a lick of bidniz sense want to fuck with the goose laying golden eggs by the dozen?

[GannonFan]

At the end of 2020 crude oil production was over 13,000,000 barrels a day. And we were energy independent for the first time in decades. Yes, production dropped precipitously at the beginning of covid, down below 10,000,000 barrels a day, but then began climbing again (Trump was still president). It dropped precipitously AGAIN in early 2021 (right after Brandon’s inauguration and got even lower than it did at the beginning COVID, by the way), and then generally began slowly increasing. But REALITY is that under Brandon, crude oil production peaked in November at less than 12,000,000 barrels and has come down EVERY. SINGLE. MONTH. Since then. And even when increasing, the RATE of increase under Biden hasn’t even come close to under the last two years of the Trump administration. And production has never come CLOSE to where Trump’s administration had it prior to the “pandemic” being orchestrated by the left.

https://tradingeconomics.com/united-sta ... production

Themes the facts, Jack. I do this shit for a living.

Bonus points: Click on the 10 year graph and it REALLY shows the difference between a donk and a conk president strategy.

Why would the oil industry want to add supply and lower prices when they're enjoying record profits now? I mean, you do this shit for a living so explain why the oil companies wouldn't want prices to keep rising as they're doing right now? Why would anybody with a lick of bidniz sense want to fuck with the goose laying golden eggs by the dozen?

And heck, considering that we've threatened the oil industry with windfall profit taxes why would they want to spend any additional money to generate more fuel? There's a very good chance they wouldn't be able to keep those profits anyway. We've sent every signal that companies that produce fossil fuels will be targeted and regulated until they no longer produce fossil fuels. The long term picture is clearly on the wall so those companies are just doing what one would expect. Our problem is that we haven't come up with the developed solution yet to replace these, not just for fuel, but for the myriad of other uses of fossil fuels. That's where the economic pain is just starting to emerge, and will continue to emerge until we fix that aspect of where we're going. Would've been nice to have a mature and widespread nuclear sector at this point, but we let hysteria trump science on that front for several decades now. Oh well.

[houndawg]

Why would the oil industry want to add supply and lower prices when they're enjoying record profits now? I mean, you do this shit for a living so explain why the oil companies wouldn't want prices to keep rising as they're doing right now? Why would anybody with a lick of bidniz sense want to fuck with the goose laying golden eggs by the dozen?

And heck, considering that we've threatened the oil industry with windfall profit taxes why would they want to spend any additional money to generate more fuel? There's a very good chance they wouldn't be able to keep those profits anyway. We've sent every signal that companies that produce fossil fuels will be targeted and regulated until they no longer produce fossil fuels. The long term picture is clearly on the wall so those companies are just doing what one would expect. Our problem is that we haven't come up with the developed solution yet to replace these, not just for fuel, but for the myriad of other uses of fossil fuels. That's where the economic pain is just starting to emerge, and will continue to emerge until we fix that aspect of where we're going. Would've been nice to have a mature and widespread nuclear sector at this point, but we let hysteria trump science on that front for several decades now. Oh well.

1) Chicken and egg

2) At that time, with that time's technology, it wasn't hysterical - today we can follow the Navy's experience with reactors and develop lower-power reactors because reactors can be made that don't produce weaponizable waste. That wasn't so back in the day, one of the reasons for pioneering enormous plants was to control the waste which was still hot enough to weaponize, compounded by gaffes like getting the blueprints backwards and not catching it until after concrete had been poured, and siting a large plant directly on an earthquake fault in California gave plenty of reason for the public to not want be the classroom for a new type of big project engineering featuring radioactive waste. There is no leaving fossil fuels behind without nuclear.

[AZGrizFan]

And heck, considering that we've threatened the oil industry with windfall profit taxes why would they want to spend any additional money to generate more fuel? There's a very good chance they wouldn't be able to keep those profits anyway. We've sent every signal that companies that produce fossil fuels will be targeted and regulated until they no longer produce fossil fuels. The long term picture is clearly on the wall so those companies are just doing what one would expect. Our problem is that we haven't come up with the developed solution yet to replace these, not just for fuel, but for the myriad of other uses of fossil fuels. That's where the economic pain is just starting to emerge, and will continue to emerge until we fix that aspect of where we're going. Would've been nice to have a mature and widespread nuclear sector at this point, but we let hysteria trump science on that front for several decades now. Oh well.

1) Chicken and egg

2) At that time, with that time's technology, it wasn't hysterical - today we can follow the Navy's experience with reactors and develop lower-power reactors because reactors can be made that don't produce weaponizable waste. That wasn't so back in the day, one of the reasons for pioneering enormous plants was to control the waste which was still hot enough to weaponize, compounded by gaffes like getting the blueprints backwards and not catching it until after concrete had been poured, and siting a large plant directly on an earthquake fault in California gave plenty of reason for the public to not want be the classroom for a new type of big project engineering featuring radioactive waste. There is no leaving fossil fuels behind without nuclear.

Bullshit on #2. Navy has been safely operating nuclear reactors since 1956. We’ve wasted 70 years on the hysteria.

[kalm]

This is rather interesting. Media manipulated perception? Crisis period where everything feels shittier than it is?

[houndawg]

1) Chicken and egg

2) At that time, with that time's technology, it wasn't hysterical - today we can follow the Navy's experience with reactors and develop lower-power reactors because reactors can be made that don't produce weaponizable waste. That wasn't so back in the day, one of the reasons for pioneering enormous plants was to control the waste which was still hot enough to weaponize, compounded by gaffes like getting the blueprints backwards and not catching it until after concrete had been poured, and siting a large plant directly on an earthquake fault in California gave plenty of reason for the public to not want be the classroom for a new type of big project engineering featuring radioactive waste. There is no leaving fossil fuels behind without nuclear.

Bullshit on #2. Navy has been safely operating nuclear reactors since 1956. We’ve wasted 70 years on the hysteria.

Have the person who reads to you read it over, I said the problem was that we weren't doing like the Navy and building smaller decentralized reactors that there was already lots of experience with.

Sometimes I think you just like to hear yourself queef..

[GannonFan]

This is rather interesting. Media manipulated perception? Crisis period where everything feels shittier than it is?

https://www.msn.com/en-us/news/politics ... 45e072a96f
This is basically why you never, ever, let inflation get out of control. There is no easy way to get it back under control and often, and really most of the time, it involves an economic contraction (i.e. recession) to do it. The Biden administration and the Fed deserve all and any of the blame they get for this. People warned them that money was too loose, people warned them that they were going against proven economic theory in order to score political points, and now the reality is clear to see. And people's perceptions right now are fine, but public opinion when it comes to recessions tends to be lagging - no one complains about a recession before it happens, only afterwards.

[AZGrizFan]

This is rather interesting. Media manipulated perception? Crisis period where everything feels shittier than it is?

https://www.msn.com/en-us/news/politics ... 45e072a96f
This is basically why you never, ever, let inflation get out of control. There is no easy way to get it back under control and often, and really most of the time, it involves an economic contraction (i.e. recession) to do it. The Biden administration and the Fed deserve all and any of the blame they get for this. People warned them that money was too loose, people warned them that they were going against proven economic theory in order to score political points, and now the reality is clear to see. And people's perceptions right now are fine, but public opinion when it comes to recessions tends to be lagging - no one complains about a recession before it happens, only afterwards.

A) JSO has ASSURED us that money supply has zero impact on inflationary pressure
B) Brandon/Yellen/Powell have ASSURED us that the inflation we are experiencing is “transitory”.

[AZGrizFan]

Bullshit on #2. Navy has been safely operating nuclear reactors since 1956. We’ve wasted 70 years on the hysteria.

Have the person who reads to you read it over, I said the problem was that we weren't doing like the Navy and building smaller decentralized reactors that there was already lots of experience with.

Sometimes I think you just like to hear yourself queef..

I read your drivel. My point went right over your head (not surprising for an Army puke). They massive hysteria over nuke power in the past 50 years drowned out the very real ability to operate reactors exactly like the navy. You said it wasn’t “hysteria”, yet that’s exactly why we’ve wasted the past 50 years when the answer was crystal clear and right in front of us all along.

[UNI88]

https://www.msn.com/en-us/news/politics ... 45e072a96f
This is basically why you never, ever, let inflation get out of control. There is no easy way to get it back under control and often, and really most of the time, it involves an economic contraction (i.e. recession) to do it. The Biden administration and the Fed deserve all and any of the blame they get for this. People warned them that money was too loose, people warned them that they were going against proven economic theory in order to score political points, and now the reality is clear to see. And people's perceptions right now are fine, but public opinion when it comes to recessions tends to be lagging - no one complains about a recession before it happens, only afterwards.

A) JSO has ASSURED us that money supply has zero impact on inflationary pressure
B) Brandon/Yellen/Powell have ASSURED us that the inflation we are experiencing is “transitory”.

JSO understand economics about as well as I understand nuclear physics.

Yellen has admitted that she was wrong about inflation being transitory. Unfortunately the animals have already escaped the barn.

[BDKJMU]

A) JSO has ASSURED us that money supply has zero impact on inflationary pressure
B) Brandon/Yellen/Powell have ASSURED us that the inflation we are experiencing is “transitory”.

JSO understand economics about as well as I understand nuclear physics.

Yellen has admitted that she was wrong about inflation being transitory. Unfortunately the animals have already escaped the barn.

She deserves blame because she failed to oppose
-Biden’s profligate spending bills (3+ trillion so called Covid relief and infrastructure)
-interest rates being held at zero for over a year.
-Biden’s Build Back Better’. She even claimed it (another 4-5 trillion) wouldn’t spark higher inflation.

[UNI88]

JSO understand economics about as well as I understand nuclear physics.

Yellen has admitted that she was wrong about inflation being transitory. Unfortunately the animals have already escaped the barn.

She deserves blame because she failed to oppose
-Biden’s profligate spending bills (3+ trillion so called Covid relief and infrastructure)
-interest rates being held at zero for over a year.
-Biden’s Build Back Better’. She even claimed it (another 4-5 trillion) wouldn’t spark higher inflation.

No argument from me on any of those.

[houndawg]

JSO understand economics about as well as I understand nuclear physics.

Yellen has admitted that she was wrong about inflation being transitory. Unfortunately the animals have already escaped the barn.

She deserves blame because she failed to oppose
-Biden’s profligate spending bills (3+ trillion so called Covid relief and infrastructure)
-interest rates being held at zero for over a year.
-Biden’s Build Back Better’. She even claimed it (another 4-5 trillion) wouldn’t spark higher inflation.

I'd say its time for another corporate tax cut

[BDKJMU]

Yellen was literally im front of a Comgressional committee today suggesting raising taxes would lower inflation.
She must be from the Densedawg/JSO school of economics..

[AZGrizFan]

Yellen was literally im front of a Comgressional committee today suggesting raising taxes would lower inflation.
She must be from the Densedawg/JSO school of economics..

That’s also Biden’s party line, sooooo…..she’s drunk the koolaid.

[SDHornet]

[AZGrizFan]

And there are actually people out there who believe that.

[SDHornet]

[houndawg]

its $8/gallon in the rest of the developed world.

Profits are at an all-time high and thats what matters, not a bunch of sniveling losers crying about losing their artificially low gass prices. Buy a Prius, dude.

[Baldy]

Also, gas has just hit an all-time high of $4.99 a gallon.

[HI54UNI]

Also, gas has just hit an all-time high of $4.99 a gallon.

And the increasing prices of natural gas and electricity haven't fully hit yet.

[HI54UNI]

INFLATION BY THE NUMBERS:

Overall: +8.6% since last year
Gas: +48.7%
Fuel Oil: +106.7%
Meat, Poultry, & Fish: +13.1%
Milk: +15.9%
Eggs: +32.2%
Coffee: +15.3%
Used Cars: +16.1%
Airline Fares: +37.8%
Real Average Hourly Earnings: -3%

[kalm]

INFLATION BY THE NUMBERS:

Overall: +8.6% since last year
Gas: +48.7%
Fuel Oil: +106.7%
Meat, Poultry, & Fish: +13.1%
Milk: +15.9%
Eggs: +32.2%
Coffee: +15.3%
Used Cars: +16.1%
Airline Fares: +37.8%
Real Average Hourly Earnings: -3%

Clearly it’s the rising labor costs.

[houndawg]

Also, gas has just hit an all-time high of $4.99 a gallon.

And the barrell price is the same as it was in 2011 when it was $3.50/gal.