Gas prices are skyrocketing because of Biden

marke

Well-known member
Let's cherry-pick numbers pulled completely out of context.

Meanwhile, the economy is rebounding from a global pandemic.
OK. How do you analyze data to draw meaningful conclusions, ignore it? Did you catch the part where Obama admitted his global warming policies were going to bankrupt coal and drive energy bills through the roof for poor people? Did you catch the part where Biden said he was going to authorize an investigation to try to discover what was driving energy bills for poor people through the roof? You don't need to cherry-pick numbers to see those facts.
 

Leatherneck

Well-known member
6075448987f7f1e9fdc0984664e380d75174620b.jpg




Republicans have intentionally blocked everything President Biden's administration has tried to do to build back better, and then blamed the administration for a failure to act. It's politics, sure, but it's dirty politics. I only wish the Democrats would get down to the GOP's dirt level and fight dirtier, but I'm not hopeful. The GQP base wants to deconstruct the U.S. and rebuild it via theocratic fascism, so watch the other hand while they're busy pointing at "antifa! Biden! Hillary! Obama! Libruls! Commies!"
Build back better=demon rat supported failed demon rat cities,more money for illegal Mexicans, and China raping America blind through old pedo Joe’s being bought and paid for by China.
 

Red Wave Rising

Well-known member
Temp Banned
Biden IS to blame for the high gas prices AND for the related high prices for everything else that come from high gas prices and the supply chain crisis.

Anyone who says he is not to blame is lying.

Let's go back seven months, and read:


President Biden is already boosting oil prices, and he’s barely gotten started.


Biden is frantic to help Americans hard-hit by COVID-19, or so he says. But while his $1.9 trillion “American Rescue Plan” would send cash to millions, much of that windfall may go to pay for higher gasoline and home heating prices.

Americans should blame Biden, but not for the reason you might think. Biden’s attack on U.S. energy producers, starting with his freeze on federal oil and gas leases, will assuredly take a toll on output down the road and cause prices at the pump to rise.

But today, Biden has pushed those prices, which were already rising because of severe weather, even higher by gratuitously alienating Saudi Arabia. The Gulf kingdom just surprised energy markets by announcing it would not raise oil output, despite developing supply constraints and rising prices. Oil prices jumped on the news, popping 4 percent to pre-pandemic levels for the first time in a year; the surge rattled markets already nervous about rising inflation.

The Saudis are reminding Biden that they can be a valuable ally or a formidable foe.

In his fever to undo every vestige of the Trump presidency, Biden has undermined the extraordinary progress made by the previous administration towards peace in the Middle East, including by “recalibrating” our relationship with Saudi Arabia. The signing of the Abraham Accords between Israel and the UAE, Bahrain, Sudan and Morocco marked an undisputed breakthrough in opening relations among bitter enemies and also in ring-fencing a belligerent Iran.

Instead of attempting to build on that achievement, Biden has tried to bury it. Upon taking office President Biden immediately froze arms sales to the UAE, which had been promised as part of the deal. He next halted military aid to the Saudi war in Yemen and rescinded the terrorist organization designation applied to the Houthis by President Trump, emboldening that group to step up their attacks on Saudi Arabia.

Also, it took a full month for Biden to call Israeli Prime Minister Benjamin Netanyahu, finally speaking to the leader of one of our strongest allies only after reaching out to more than a dozen other heads of state.

All these gestures made it clear, not that “America is back,” as Biden has proudly announced, but that America is going backward…fast.

The crowning blow to our improved realignment of interests in the Middle East, however, was Biden’s decision to insult the de facto ruler of Saudi Arabia by releasing an intelligence assessment that Crown Prince Mohammed bin Salman (MBS) was responsible for orchestrating the murder of Jamal Khashoggi. This affront followed the White House announcing that Biden would not speak to MBS, as he is called, but rather, communicate with his father, the ailing Saudi King Salman bin Abdulaziz.

The Khashoggi report contained nothing new; the “reveal” simply signaled Biden’s disdain for the controversial leader and disagreement with everything Trump, who had a close working relationship with Saudi Arabia’s next ruler.

The Abraham Accords shocked the world; even the New York Times’s Tom Friedman recently hailed the “game-changing” breakthrough, writing that “something big seems to be stirring.”

Many hoped that Saudi Arabia might also join the Accords, which would, Friedman concludes, make the agreement “one of the most significant realignments in modern Middle East history.” Most likely, Biden has killed that possibility.

Offending Saudi Arabia scratches a Leftist itch; indeed, human rights groups complain that Biden did not punish MBS directly, after promising to do so on the campaign trail. But it will not help American consumers.

Saudi Arabia still occupies the enviable position of swing oil producer; they are currently producing about nine million barrels of oil per day, down from 9.8 million barrels in 2019. The country has the capacity to produce between 11 and 12 million barrels, thus allowing it to flood the market when prices get too high. Because the nation is wealthy, it also can cut output to prop up prices, as it did last year when, due to COVID-19, energy demand collapsed.

In other words, despite the growth in U.S. oil output in recent years, the Saudis still run the show. And MBS runs Saudi Arabia. Last year, a personal confrontation with Vladimir Putin drove him to push a price war with Russia; almost certainly, the recent decision to drive prices higher was also his.

Gasoline prices had already posted sizable increases, with the national average price rising for eight weeks in a row to $2.71 a gallon as of March 1, up from $2.40 at the end of January and against last May’s price of $1.79.

Some are now predicting that prices will top $3.00 per gallon as we approach the summer driving season. A driving season that will see millions return to the roads as the COVID-19 crisis eases.

Travelers this summer may get a preview of what Biden’s anti-oil policies will come to mean for their pocketbooks. Right out of the gate, Biden curtsied to the climate warriors by canceling the Keystone Pipeline and, more consequentially, pausing the leasing of federal lands for oil and gas development. Federal lands account for about 22 percent of U.S. oil production.

It is clear those are just his opening moves; Biden’s appointments of progressives to important Cabinet posts and insertion of climate issues into every agency’s agenda will doubtless drive U.S. oil and gas investment and production down over time. Consequently, prices will increase.

In 2012, President Obama suffered one of the worst-ever drops in his approval rating when gas prices spiked. According to a NYTimes/CBSNews poll at the time, “54 percent of poll respondents believed that a president can do a lot to control gas prices…” and had punished Obama accordingly.
 

JudgeRightly

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A rebound would imply that businesses are quickly getting back on their feet, and that supply chains start moving again.

But there are thousands, if not tens of thousands of businesses that will never recover, let alone rebound, from the last two years, because they were forced out of business by draconian measures.

And as a worker in the supply chain, I can tell you right now that supply chain issues are projected to last for another 2 years. That's not rebounding.
 

annabenedetti

Well-known member
And that reply comes from your vast storehouse of knowledge of economics? Or does it come from the press releases of the Biden admin?

It matched JR's reply to me, intentionally so.

And so your focus mine, which matched JR's in tone and brevity while his had no impact on you, apparently:

Not really.

So maybe now you'll realize your bias.

Not a chance.

You've built your bias brick by brick and it's not coming down, and you're so fearful that you think you'll be "disappeared" any day now. Step outside your bubble, ffreeloader. I did, almost 10 years ago. It's very freeing to realize how very often the ideas and information those supposedly trustworthy far-right voices were telling you - were flawed. As is everyone, and everything.
 
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annabenedetti

Well-known member
A rebound would imply that businesses are quickly getting back on their feet, and that supply chains start moving again.

They are starting to move again. Try other sources besides theskyisfallingit'sBiden'sfault kind.

But there are thousands, if not tens of thousands of businesses that will never recover, let alone rebound, from the last two years, because they were forced out of business by draconian measures.

And as a worker in the supply chain, I can tell you right now that supply chain issues are projected to last for another 2 years. That's not rebounding.

Some won't recover and that's indeed unfortunate. So is a global pandemic unfortunate, and the many lives needlessly lost because of intentional disinformation is tragic and criminal.

The economy is rebounding, as shown by the numbers. The supply chain problems are still there, but they're complex and can't be distilled down to 'it's Biden's fault' any more than anything else. The "just in time" system was a ticking time bomb.

You're a trucker. Here's another trucker's perspective. You won't like it, because he places part of the blame on greedy capitalism, but I hope you'll read it anyway.

I’m A Twenty Year Truck Driver, I Will Tell You Why America’s “Shipping Crisis” Will Not End

 

Red Wave Rising

Well-known member
Temp Banned

- the reality is that passing legislation that is hostile to the U.S. oil and gas industry makes it even more difficult for domestic production to bounce back. So, instead of asking Russia and OPEC to pump more oil, we could look internally to what we could do in the U.S. to pump more oil. I highlighted the risks of President Biden’s energy policies earlier in the year, because this is the sort of situation that can arise -

- First, a fundamental reason oil prices have surged over the last year is that U.S. oil production declined by 3 million barrels per day -

I’m A Twenty Year Truck Driver, I Will Tell You Why America’s “Shipping Crisis” Will Not End

Sorry, but driving trucks does not make someone a global logistics experts. LOL :ROFLMAO:
 

marke

Well-known member
They are starting to move again. Try other sources besides theskyisfallingit'sBiden'sfault kind.



Some won't recover and that's indeed unfortunate. So is a global pandemic unfortunate, and the many lives needlessly lost because of intentional disinformation is tragic and criminal.

The economy is rebounding, as shown by the numbers. The supply chain problems are still there, but they're complex and can't be distilled down to 'it's Biden's fault' any more than anything else. The "just in time" system was a ticking time bomb.

You're a trucker. Here's another trucker's perspective. You won't like it, because he places part of the blame on greedy capitalism, but I hope you'll read it anyway.

I’m A Twenty Year Truck Driver, I Will Tell You Why America’s “Shipping Crisis” Will Not End

Capitalism is not to blame for the economic crisis bad government policies have plunged America into, bad government policies are. The reason so many unsaved rebels against God believe capitalism, or white skin color, or fiscal spending restraints, or Christianity are to blame for the problems facing America today is that they have been deceived by the devil and his witting and unwitting supporters.
 

Red Wave Rising

Well-known member
Temp Banned
Capitalism is not to blame for the economic crisis bad government policies have plunged America into, bad government policies are. The reason so many unsaved rebels against God believe capitalism, or white skin color, or fiscal spending restraints, or Christianity are to blame for the problems facing America today is that they have been deceived by the devil and his witting and unwitting supporters.

You are totally correct.

Marxist Anna is impervious to facts. It only took me a couple of days to figure that out.
 

JudgeRightly

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So maybe now you'll realize your bias.

Not a chance.

You've built your bias brick by brick and it's not coming down, and you're so fearful that you think you'll be "disappeared" any day now. Step outside your bubble, ffreeloader. I did, almost 10 years ago. It's very freeing to realize how very often the ideas and information those supposedly trustworthy far-right voices were telling you - were flawed. As is everyone, and everything.

I think you quoted the wrong post...
 

annabenedetti

Well-known member

The U.S. Supply-Chain Crisis Is Already Easing

Progress is still slow and too many boats are waiting at the ports, but many problems have at least stopped getting worse.

The supply-chain crunch appears to have already peaked in the U.S. When I first wrote this in mid-October, it felt like a bold assessment. Over the past two years, just about anything that could go wrong with global supply chains has gone wrong, from volatile swings in demand, a wave of extreme weather events and even a container ship getting stuck in the Suez Canal. But evidence keeps piling up to suggest that the U.S. is slowly but surely making progress in easing freight congestion and supply shortages.

Global average ocean freight rates for a 40-foot container have now declined for eight straight weeks, according to data released Thursday from maritime advisory and research firm Drewry. Spot pricing for the busy Shanghai-to-Los Angeles trade route has bounced around more but is still down about 19% from its September peak. Meanwhile, the number of containers lingering for longer than nine days at the Port of Los Angeles has dropped by about a third since the hub announced a plan in October to start fining ocean carriers for excessive dwell times, Executive Director Gene Seroka said this week. The threat alone seems to have driven meaningful improvement, so the ports of L.A. and Long Beach have delayed the penalties (which start at $100 a day and rise in $100 increments) until at least later this month. An influx of additional sweeper ships used to pick up empty containers is also helping to clear dock space for new cargo, while local officials have agreed to temporarily increase the number of containers that can be vertically stacked in nearby warehouses and container yards.

For all the doomsday warnings about the knock-on effects of the logjams on corporate earnings, companies generally seem to be managing fine — at least the large, public ones. Target Corp. this week reported $2 billion of additional inventory on its balance sheet at the end of the third quarter compared with a year earlier as it stockpiled goods to meet holiday demand. The retailer said it had secured enough truck and rail capacity to support expected shipments in the final months of the year. In the industrial world, freight congestion and supply disruptions weighed on short-term sales, but the damage to profit margins ended up being fairly limited in the third quarter as companies flexed their pricing power. Most executives sound very optimistic about future demand in 2022 and beyond.

U.S. manufacturing output rose in October to the highest level since March 2019, Federal Reserve data showed this week. The factory production rebound was driven in part by an 11% jump in motor vehicles and parts, suggesting that even the automotive industry, hit hard by the semiconductor shortage, is navigating the supply crunch. Indeed, October marked the peak of the chip crunch at Toyota Motor Corp., Bob Carter, the company’s executive vice president for North American sales, told CNBC. That echoed commentary from Honeywell International Inc. Chief Executive Officer Darius Adamczyk, who also predicted that availability of industrial-oriented semiconductors would soon improve.

To be sure, a peak in supply-chain stress doesn’t mean it’s over. Shipping costs are still very high on a historical basis: The global benchmark rate is up more than 200% from the same period last year, Drewry data show. The number of container ships waiting to enter the ports of Los Angeles and Long Beach has hit new records in recent days, and as of Wednesday there were still around 80 anchored or idling further off shore, according to the Marine Exchange of Southern California. Average wait times continue to stretch. For every CEO that’s willing to call a peak — and there have been a growing number in recent weeks, from air-conditioner manufacturer Lennox International Inc. to supply-chain management firm GXO Logistics Inc. — there are others who remain more circumspect.

“There’s been some acceleration of the ports moving containers out and some early signs of dampening on ocean freight rates in the spot market,” Bob Biesterfeld, CEO of freight broker C.H. Robinson Worldwide Inc., said in an interview. “Whether or not that’s a trend is yet to be determined. But the market relative to normal — whatever normal is — is still largely dislocated.” Black Friday is only a week away, and there’s probably stuff on those 80 waiting boats that some people would prefer to have in inventory, Biesterfeld said.

But for the supply-chain crunch to get better, it first needed to stop getting worse. That at least appears to have happened.
 

JudgeRightly

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The U.S. Supply-Chain Crisis Is Already Easing

Progress is still slow and too many boats are waiting at the ports, but many problems have at least stopped getting worse.

The supply-chain crunch appears to have already peaked in the U.S. When I first wrote this in mid-October, it felt like a bold assessment. Over the past two years, just about anything that could go wrong with global supply chains has gone wrong, from volatile swings in demand, a wave of extreme weather events and even a container ship getting stuck in the Suez Canal. But evidence keeps piling up to suggest that the U.S. is slowly but surely making progress in easing freight congestion and supply shortages.

Global average ocean freight rates for a 40-foot container have now declined for eight straight weeks, according to data released Thursday from maritime advisory and research firm Drewry. Spot pricing for the busy Shanghai-to-Los Angeles trade route has bounced around more but is still down about 19% from its September peak. Meanwhile, the number of containers lingering for longer than nine days at the Port of Los Angeles has dropped by about a third since the hub announced a plan in October to start fining ocean carriers for excessive dwell times, Executive Director Gene Seroka said this week. The threat alone seems to have driven meaningful improvement, so the ports of L.A. and Long Beach have delayed the penalties (which start at $100 a day and rise in $100 increments) until at least later this month. An influx of additional sweeper ships used to pick up empty containers is also helping to clear dock space for new cargo, while local officials have agreed to temporarily increase the number of containers that can be vertically stacked in nearby warehouses and container yards.

For all the doomsday warnings about the knock-on effects of the logjams on corporate earnings, companies generally seem to be managing fine — at least the large, public ones. Target Corp. this week reported $2 billion of additional inventory on its balance sheet at the end of the third quarter compared with a year earlier as it stockpiled goods to meet holiday demand. The retailer said it had secured enough truck and rail capacity to support expected shipments in the final months of the year. In the industrial world, freight congestion and supply disruptions weighed on short-term sales, but the damage to profit margins ended up being fairly limited in the third quarter as companies flexed their pricing power. Most executives sound very optimistic about future demand in 2022 and beyond.

U.S. manufacturing output rose in October to the highest level since March 2019, Federal Reserve data showed this week. The factory production rebound was driven in part by an 11% jump in motor vehicles and parts, suggesting that even the automotive industry, hit hard by the semiconductor shortage, is navigating the supply crunch. Indeed, October marked the peak of the chip crunch at Toyota Motor Corp., Bob Carter, the company’s executive vice president for North American sales, told CNBC. That echoed commentary from Honeywell International Inc. Chief Executive Officer Darius Adamczyk, who also predicted that availability of industrial-oriented semiconductors would soon improve.

To be sure, a peak in supply-chain stress doesn’t mean it’s over. Shipping costs are still very high on a historical basis: The global benchmark rate is up more than 200% from the same period last year, Drewry data show. The number of container ships waiting to enter the ports of Los Angeles and Long Beach has hit new records in recent days, and as of Wednesday there were still around 80 anchored or idling further off shore, according to the Marine Exchange of Southern California. Average wait times continue to stretch. For every CEO that’s willing to call a peak — and there have been a growing number in recent weeks, from air-conditioner manufacturer Lennox International Inc. to supply-chain management firm GXO Logistics Inc. — there are others who remain more circumspect.

“There’s been some acceleration of the ports moving containers out and some early signs of dampening on ocean freight rates in the spot market,” Bob Biesterfeld, CEO of freight broker C.H. Robinson Worldwide Inc., said in an interview. “Whether or not that’s a trend is yet to be determined. But the market relative to normal — whatever normal is — is still largely dislocated.” Black Friday is only a week away, and there’s probably stuff on those 80 waiting boats that some people would prefer to have in inventory, Biesterfeld said.

But for the supply-chain crunch to get better, it first needed to stop getting worse. That at least appears to have happened.

Like I said, not rebounding.

Getting better, sure. But not rebounding.
 

marke

Well-known member

The U.S. Supply-Chain Crisis Is Already Easing

Progress is still slow and too many boats are waiting at the ports, but many problems have at least stopped getting worse.

The supply-chain crunch appears to have already peaked in the U.S. When I first wrote this in mid-October, it felt like a bold assessment. Over the past two years, just about anything that could go wrong with global supply chains has gone wrong, from volatile swings in demand, a wave of extreme weather events and even a container ship getting stuck in the Suez Canal. But evidence keeps piling up to suggest that the U.S. is slowly but surely making progress in easing freight congestion and supply shortages.

Global average ocean freight rates for a 40-foot container have now declined for eight straight weeks, according to data released Thursday from maritime advisory and research firm Drewry. Spot pricing for the busy Shanghai-to-Los Angeles trade route has bounced around more but is still down about 19% from its September peak. Meanwhile, the number of containers lingering for longer than nine days at the Port of Los Angeles has dropped by about a third since the hub announced a plan in October to start fining ocean carriers for excessive dwell times, Executive Director Gene Seroka said this week. The threat alone seems to have driven meaningful improvement, so the ports of L.A. and Long Beach have delayed the penalties (which start at $100 a day and rise in $100 increments) until at least later this month. An influx of additional sweeper ships used to pick up empty containers is also helping to clear dock space for new cargo, while local officials have agreed to temporarily increase the number of containers that can be vertically stacked in nearby warehouses and container yards.

For all the doomsday warnings about the knock-on effects of the logjams on corporate earnings, companies generally seem to be managing fine — at least the large, public ones. Target Corp. this week reported $2 billion of additional inventory on its balance sheet at the end of the third quarter compared with a year earlier as it stockpiled goods to meet holiday demand. The retailer said it had secured enough truck and rail capacity to support expected shipments in the final months of the year. In the industrial world, freight congestion and supply disruptions weighed on short-term sales, but the damage to profit margins ended up being fairly limited in the third quarter as companies flexed their pricing power. Most executives sound very optimistic about future demand in 2022 and beyond.

U.S. manufacturing output rose in October to the highest level since March 2019, Federal Reserve data showed this week. The factory production rebound was driven in part by an 11% jump in motor vehicles and parts, suggesting that even the automotive industry, hit hard by the semiconductor shortage, is navigating the supply crunch. Indeed, October marked the peak of the chip crunch at Toyota Motor Corp., Bob Carter, the company’s executive vice president for North American sales, told CNBC. That echoed commentary from Honeywell International Inc. Chief Executive Officer Darius Adamczyk, who also predicted that availability of industrial-oriented semiconductors would soon improve.

To be sure, a peak in supply-chain stress doesn’t mean it’s over. Shipping costs are still very high on a historical basis: The global benchmark rate is up more than 200% from the same period last year, Drewry data show. The number of container ships waiting to enter the ports of Los Angeles and Long Beach has hit new records in recent days, and as of Wednesday there were still around 80 anchored or idling further off shore, according to the Marine Exchange of Southern California. Average wait times continue to stretch. For every CEO that’s willing to call a peak — and there have been a growing number in recent weeks, from air-conditioner manufacturer Lennox International Inc. to supply-chain management firm GXO Logistics Inc. — there are others who remain more circumspect.

“There’s been some acceleration of the ports moving containers out and some early signs of dampening on ocean freight rates in the spot market,” Bob Biesterfeld, CEO of freight broker C.H. Robinson Worldwide Inc., said in an interview. “Whether or not that’s a trend is yet to be determined. But the market relative to normal — whatever normal is — is still largely dislocated.” Black Friday is only a week away, and there’s probably stuff on those 80 waiting boats that some people would prefer to have in inventory, Biesterfeld said.

But for the supply-chain crunch to get better, it first needed to stop getting worse. That at least appears to have happened.
Buying into self-serving leftist nonsense about the economy is doing great damage to the US because the lying narratives serve to destroy any possibility of fixing problems that are being caused by continued reliance on destructive policies.
 

marke

Well-known member
Americans who are not hurting because of skyrocketing costs are likely either independently wealthy, addicted to government welfare and largesse, or not totally mentally aware of their surroundings. Biden himself does not seem to understand why there is a problem at the pumps due to his irrational continuation of Obama's program of shuttering fossil fuel production in America.


The Wall Street Journal reported on the skyrocketing energy costs last week, "Crude oil has risen 64% this year to a seven-year high. Natural-gas prices have roughly doubled over the past six months to a seven-year high. Heating oil has risen 68% this year. Prices at the pump are up nearly a dollar over the past 12 months to a national average just over $3 a gallon. Coal prices are at records."
It is clear that Biden is deluded and destroying the American economy because of his obsession with leftist delusions about global warming and the alleged need to deconstruct modern societies and industrialization in order to save a planet that is on the verge of global warming destruction in less than 12 years.


Simultaneously Biden has taken to arguing (a) that the United States should reduce the production of fossil fuels, curb the number of new pipelines on American soil, limit the amount of federal land on which oil and gas can be drilled, and, as CNN puts it, break sharply “from the Trump administration’s mission to maximize fossil fuels production”; (b) that other countries must produce more fossil fuels for American use at once — and, indeed, that at this “critical moment in the global recovery,” their refusal to do so is irresponsible; and (c) that, actually, this isn’t a supply issue at all, but a dastardly gouging issue that the FTC must investigate post-haste. I’ve heard of an “all of the above” energy policy, but this one seems a touch ridiculous.
 
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