Rising Gas Prices High Inflation And Our Pending Elections

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   Sharlee01posted 21 months ago

   
   
   With inflation rising and gas prices surging, Biden faces hard political realities ahead of the November midterm elections. Part of the problem could be if he pushed too quickly to initiate his plan for clean energy.  He came into office and used his pen to truly piss off "big oil". 
   
   He found himself in a proxy war with Russia, one of the three biggest producers of oil, and ultimately NATO sanctioned 12% of the world's oil, hence "we got a big problem"... An oil shortage. An oil shortage that in my view Biden is ultimately responsible for. Due to very poor decision-making from day one.
   
     So, Joe decides to do to fix the problem, he flips and flops and asks American oil companies to pump more. Pretty much ignoring that his poison pen is what caused oil companies to push back, and give him the bird.   
   
   In the US, most oil producers due to Biden's policies locked into long-term production plans,  and due to the industry still recovering from the 2020 oil-price bust caused by the COVID-19 pandemic. They are not at all willing to work with Joe. They seem to have decided it's time to keep their investors happy while having the opportunity to make big bucks due to the profits that could be made under an oil shortage.
   
   AS for their part, the 13 OPEC nations, after cutting output in response to the pandemic slowdown, decide they will stick to also making money by not producing more oil. Again money wins out.
   
   So, now we have Biden resorting to tapping our oil reserves and asking other counties to do the same. Thus far we have seen little results in bringing the price of gas and home heating and cooling bills down? Makes one wonder, does he realize his plan is very risky in regard to the November elections?   History tells us, that many people vote for their pocketbooks. Biden's poor energy policies along with his poor decisions makeing have also provided serious fodder for Republicans to use in the upcoming elections in November. 
   
   Will Biden's failed energy policies help the Democrats in November?  Most voters are really more worried about the here and now,  paying bills, feeding their families, being able to save a bit for the future, and may not be as worried about Biden's "clean energy policies". In fact,  many may be seeing Biden's clean energy policies is what is hurting them financially.  With gas and food costs spiking, they might be putting less emphasis on carbon emissions and more emphasis on how much their pocketbooks are hurting.  Biden is walking a weak worn out tightrope in my view.
   
   The way oil economics work is you have a globally priced commodity. So, a disruption anywhere impacts prices everywhere. How pleased are our allies in regard to Biden's speedy push for clean energy?  Does it seem Biden gave little thought or regard to what his speedy green energy plan could cause to America or globally?   Germany presently due to the oil crisis has turned back to using some coal to help with energy costs. https://www.cnbc.com/2022/06/20/ukraine … plies.html    AS has many other European countries.  The big question is, could have this oil war been prevented?   Could a better plan be constructed for the world to be headed toward clean energy at a pace that would have ushered it in without harmful turmoil?
   
   Russia is the world’s third-largest oil producer, exporting 5 million barrels of crude a day, or about 12 percent of the global market, About 60 percent of Russian oil goes to Europe and 20 percent goes to China. Are the sanctions working? It appears they are not.  Has Biden's plan to add oil from our reserves bandaid worked?  It appears thus far it has not.  The world is experiencing an energy crisis, that is affecting economies around the world.
   
   Europe, Japan, and others did cooperate and join the US in releasing more from their reserves. Will they be willing to continue this policy with their faltering economies? My bet is no they will not sign up to continue to take from their reserves in such a precarious time when oil is very expensive and hard to come by.
   
   But while the Ukraine conflict has pushed Biden and other world leaders to dip into their stockpiles,  consumers are paying higher prices, and it would seem more disruptions lay ahead. Due to global supply-and-demand dictating prices, the barrels of Russian oil coming off the market will far exceed what is being put back in by the US and other nations from their reserves. The fact is China is taking advantage and topping its oil reserves, as quickly as other nations add oil from their reserves to the market.   
   
   This is a big problem. It’s going to keep oil prices high,  and therefore pump prices high and heading higher. The first of the summer cooling bills have been issued, mine was doubled, what was yours? At this point, many states are talking brownouts.
   
   We currently have a very angry population due to rising costs across the board.  The current energy situation could prove politically costly for Biden, who came into office pledging to move the United States away from fossil fuels, but now faces sharply rising fuel prices amid growing inflation in the US.
   
   The top priority of any official in Washington is always the next election. This administration in my view should be terrified about rising prices,  most of all gasoline prices.  It’s just basic, but brutal, oil-market math and political survival go hand in hand.   
   
   Thoughts on where this will all lead in the upcoming election?
   
   In the oil crisis, should we be selling oil from our reserves?
   
   Will you be considering your financial stability in November, and in the 2024 presidential election?
   
   A few sources
   https://republicans-energycommerce.hous … Letter.pdf
   https://www.bbc.com/news/business-60936468
   https://www.foxbusiness.com/politics/en … estigation
   https://www.yahoo.com/video/why-u-sendi … 00418.html
   https://markets.businessinsider.com/new … ity-2022-7

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      tsmogposted 21 months agoin reply to this

      Well written with a lot of food to digest. Frankly, it kinda' goes over my head not having a great familiarity with economics stuff. But, I understand it enough from life/career stuff in regard to pricing and enough about inflation to know it is high, yet is so worldwide. A friend in Sweden's cost for petrol has skyrocketed like here.
      
      My gas costs have certainly been high compared to last year. Recently in Apr it was $5.99/gal and I live in Calif. where it is high compared to national average. May was $6.39/gal followed by early June at $6.71/gal and late June at $6.39/gal again. I don't know what caused the up and down of that. Last week this month, Jul, it was $6.20/gal., so at least headed downward.
      
      I imagine inflation lead by gas prices as well as groceries thus the pocket book will greatly impact the vote this Nov, yet not me frankly. To me it doesn't matter who is elected the wave of inflation is just that a wave and we need to surf it as best as can be. If it was for president most certainly it would affect my choice. I will be making my choice for a candidate on things like abortion, in which I am against abortion, yet pro-choice.
      
      I don't know enough to comment of the reserve stuff especially reading the back and forth in the other thread. And, like I said it kinda' goes over my head.
      
      No, I won't give much attention to my financial stability in Nov's ballot. What is important for me on the ballot are the seven measures at issue and the state offices like governor. I got my work cut out for me in what direction I would like to see Calif go in the future. See link if curious of measures and offices with candidates.
      
      Californians to vote on 7 ballot measures this November
      https://www.kcra.com/article/california … n/40486579
      
      California state executive official elections, 2022
      https://ballotpedia.org/California_stat … ions,_2022

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         Sharlee01posted 21 months agoin reply to this

         "May was $6.39/gal followed by early June at $6.71/gal and late June at $6.39/gal again. I don't know what caused the up and down of that. Last week this month, Jul, it was $6.20/gal., so at least headed downward.
         "
         
         It was a bit down due to Biden trying to keep prices stable by releasing oil from our reserves. Since he started dumping it has kept it still high but we see fluctuations due to when our oil reserves are dumped into the global market.
         
         The problem is how long can we as a nation afford to take from the reserves, I guess ultimately they can be emptied. Although this would certainly weaken the Nation if we had any form of conflict or emergency where we needed oil. As you know, oil pays for wars...
         
         And as our reserves are depleted other nations' reserves become stronger... China has been increasing oil purchases over the past months while we pour our oil into the market. I will let you imagine what consequences this could have on the world.
         
         Have your utility bills gone up? As I mentioned this past month my electric and gas bill doubled. I can only think of what winter will bring. TOur reserves were created for such emergencies. But, it would seem Biden has chosen to try and fix the world.
         
         "May was $6.39/gal followed by early June at $6.71/gal and late June at $6.39/gal again. I don't know what caused the up and down of that. Last week this month, Jul, it was $6.20/gal., so at least headed downward."
         
         This seems a very cavalier attitude. Perhaps you might want to research some of the current problems we are having due to oil.  We are seeing some unprecedented situations, and it may not be wise to think all is as before, situations come and go. In my opinion, we need solutions, and quickly.
         
         " I will be making my choice for a candidate on things like abortion, in which I am against abortion, yet pro-choice."
         
         It would seem a solvent well working Nation, with an economy that can support its population would be more important than a social issue.
         If our economy gives rise to poor quality of living one's life, poverty, and hard times ---  where does abortion fit in the equation?
         
         Not to be rude, but it seems you may have been persuaded to "look over here --- not there because we are in a sh-t load of trouble. I think your thought is relevant to what media is pushing you to be concerned about.
         
         I can simplify the current problem in regard to our oil reserves. If an emergency should arise and we need oil to make sure we have gas for our cars, trucks, trains, and so on, that provide us with food, if you need heat or electricity we need our reserves. 
         
         Or I guess we could do without... If this administration depletes our reserves we will be at a mercy of most likely any nations that have stockpiled our reserves --- that would be China and Russia.
         
         I guess one could still get an abortion in these hard times. If they could afford one.
         
         Hey, I realize I have been blunt, but this recent move to sell our reserves is very disturbing to me.
         
         PLEASE do not take offense at my bluntness, just being blunt, for conversation purposes, and to share my view. I will also say, I think many would agree with your sentiments, they are logical and popular.  Most seem apathetic to the subject on social media. I feel it will be a problem that will bite us hard in the near future. Biden can't go on looking for oil when all doors are closed to him, and if he empties our reserves, we will have dire consequences. He is trying to fill a leaky ship, in hopes, that it will mend itself. It won't. It won't, he could not have chosen a worst opponent than the oil companies.
         
         I always feel I can be honest with you, as you are very straight with me.  I appreciate that you take the time to comment on my threads.  You are one of few... Thank you

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            tsmogposted 21 months agoin reply to this

            Cavalier. Oh well!

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               Sharlee01posted 21 months agoin reply to this

               Hey, are you not a bit easy and lighthearted?  I should have just said easy and lighthearted in your very manner.
               
               See if this context is better ---  This seems a very lighthearted attitude.   Perhaps you might want to research some of the current problems we are having due to oil.  We are seeing some unprecedented situations, and it may not be wise to think all is as before, situations come and go. In my opinion, we need solutions, and quickly.
               
               Being cavalier in today's climate is perhaps a good thing.  A wise man's survival mechanism. 
               
               Oh, what I would give to be called cavalier. LOL
               
               Please concentrate more on my last paragraph, it was heartfelt.

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      peterstreepposted 21 months agoin reply to this

      This crisis would have happened anyway. As we've already reached the maximum oil production. (they are looking for alternatives like fracking etc but these are not lucrative, but it shows the need for fuel that they are looking for different ways. Hence not a bad idea to look for greener and other resources than oil) But as we (the world economy) hunger for more, the prices will rise.
      The irony will that because of the war in Ukraine gas prices went up, and Russia is earning more money from gas than before the war.
      The War in Ukraine is very lucrative for the Oil and Gas industry. (So much that you start to question if this industry was not lobbying for the war. - but that's speculation on my part)
      The crisis is just beginning, and it has nothing to do with Biden, but with the consumption, and the industry that was built over the decades that promotes a never ending growth industry.
      But you can not forever grow bigger as the natural resources have a limit. But economics doesn't take these limitations into account. Hence the problem with the shock of the economic world (stock market, crypto etc.) versus the real world. And now finally the economic world is collapsing catching up with the real world.

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         Sharlee01posted 21 months agoin reply to this

         Interesting view, thanks for sharing.

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   Kathleen Cochranposted 21 months ago

   Do you have any sources for all this information or is it just off the top of your head. What will I consider in the mid-terms? What a mess the GOP makes every time it has power and how to ensure they don't have it again. We're still cleaning up from the last time and it will take longer than two years.

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      Sharlee01posted 21 months agoin reply to this

      Do you have any proof of  "We're still cleaning up from the last time and it will take longer than two years."?
      
      Last I looked Biden has caused each and every problem that we are been forced to endure.
      
      It would appear you are not aware of what is going on. I certainly can offer sources for my OP. Maybe I will pique your interest in researching current news.
      
      Naturally, I added my opinion of the facts I provided.  If you have a point you would like me to source, I will be glad to offer my source.

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   Nathanvilleposted 21 months ago

   I can see your sentiments, Britain, Europe and many countries around the world are in the same boat as the USA; so it’s not all Biden’s fault, every Government in Europe and Britain (and elsewhere) faces the same problems – Energy Crisis, rising fuel prices, cost of living crisis is beyond the control of individual governments.
   
   However, Britain, with a different cultural attitude to the USA, is taking a different tact to the issues.  Instead of trying to increase oil and gas production, which is bad for the planet (Global Warming); Britain is stepping up its efforts to increase ‘Renewable Energy’ (clean energy).  In spite of pressure on the British Government to increase oil and gas production significantly by allowing commercial fracking; at this time the British Government is still committed to prohibit fracking, and instead encourage the British oil and gas companies to invest more in Renewable Energies e.g. an attitude of short term pain for long term gain.
   
   Politically fracking is unpopular with the British Public because fossil fuel is seen by the British to be harmful to the planet (Global Warming); so banning fracking in Britain is a vote winner.
   
   UK Conservative Government bans fracking just weeks before national election:  https://youtu.be/NUzqkT4ovsk

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      Sharlee01posted 21 months agoin reply to this

      IT is uplifting to see the UK making every attempt to continue on a path to clean energy. Hopefully, Europe will be able to stop using coal as a short-term option for oil.

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         Nathanvilleposted 21 months agoin reply to this

         Germany is by far the largest coal consumer in the EU; coal used in Germany and Poland is more than the rest of the EU put together.  In the last 8 years, from 2014, the percentage of electricity in the UK that comes from burning coal has reduced from 30% to less than 1%; with UK Government plans to reach 0% by 2024.
         
         Yes, the EU has been forced to use more coal in the past year due to the sharp rise in natural gas, and the Ukraine war.  The use of coal in the EU had fallen by 40% over the past ten years with the intention to phase it out by 2030; but because of the gas crisis use of coal has temporarily increased in EU – the increase being on a par with the USA e.g. CO2 emissions from coal has increased in the EU by 16% this year, and 17% this year in the USA.

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   Sharlee01posted 21 months ago

   Biden should be meeting with Ameican oil companies instead of the Saidi's.
   
   "We think Texas is a lot closer than Saudi Arabia,' American Exploration and Production Council CEO Anne Bradbury told Fox News Digital. "And President Biden does not need to be traveling halfway around the world searching for solutions to this energy crisis when the solution is right here at home,"
   
   "If the administration is serious about increasing supply, they should be meeting with producers here at home instead of looking to governments overseas," added American Petroleum Institute spokeswoman Christina Noel." 
   
   Biden's trip to the Middle East includes visits to multiple countries, including Israel. The White House says the president will tackle a swath of geopolitical issues while he's there.
   
   But with high gas prices and burning hot inflation, his Friday visit to Saudi Arabia, and energy diplomacy in the Oil Kingdom, will be the most closely watched part of the trip. That is especially the case amid human rights criticism of Saudi Arabia, including for its treatment of gay people and the killing of Jamal Khashoggi.
   
   "We will have the opportunity, among this very broad agenda, to talk about energy security with the leaders of the OPEC nations in the Middle East, just as we discussed energy security when he was on his trips in Europe and in the Indo-Pacific," National Security Adviser Jake Sullivan told reporters Monday.
   
   "Human rights — are a strategic interest of the United States. So is energy security, so is stopping terrorism, so is seeking peace in a place like Yemen," Sullivan also said."
   
   https://www.foxbusiness.com/politics/bi … lification
   
   Biden can rectify the problems he has caused with his policies, letting regulations that have restricted American oil companies   What does he do, he furthers the wedge with American oil companies.
   
   Hey Joe, they can wait you out...  He is headed to Saudi Arabia with hat in hand, and that large weapons sale that he put on hold when he walked into the White House to bargain with.
   
   Is this kind of dealing really acceptable?  Oil for weapons...  Spitting in the face of American oil companies. Is this really problem-solving? It seems to me's Biden is just getting in down in the mud with a nation that disregards human rights, which includes the deplorable treatment of gay people, and women. He will sit down with the man that has been accused of ordering the killing of Jamal Khashoggi.  Sickening...

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   Ken Burgessposted 21 months ago

   Let me begin this with stating some basic facts, as a foundation.
   
   Biden was never fit to be President, he wasn't fit 30 years ago when he was at his political and mental best.  And he certainly is not now, he has no business in being in any position of power.  He is a puppet reading his teleprompters.
   
   Biden, and his family, are as corrupt and criminal as you can find in DC.
   
   Biden is a sign of our sad reality today in America... politicians lie and are never held accountable, Pelosi is a walking meme of lies and gaffs but she is still in power.
   
   Our media does not report news, it gives us corporate and political propaganda.  Depending on what you choose to watch, your brain is being filled with lies that propagate a favoritism for Left or Right politics while dehumanizing the "opposition".
   
   The success of this propaganda can be seen in these threads, people who I could have an intelligent conversation with 5 or 10 years ago on here, are now so immersed in the endless stream of lies and propaganda being fed to them, they are willing to see the "opposition" killed if need be, to be silenced or removed.
   
   We see crimes going unpunished, violence and theft is "reparations", people are attacked and killed on the streets of NY and San Francisco for no reason, just because a passer by wanted to do so.  Stores are looted by coordinated mobs, no one goes to jail, so the stores shut down.
   
   Six year olds are being allowed to have sex changes.
   
   Republicans are joining Democrats to pursue the banning of guns in an effort for us to reach Agenda 2030 goals.
   
   Having the incompetent Biden as President is merely window dressing, someone to blame things on as Rome burns.

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      Sharlee01posted 21 months agoin reply to this

      So pleased to read your view, matches mine 100%.

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   Sharlee01posted 21 months ago

   Joe comes back from the Middle East empty-handed...   No commitment to increase pumping oil, and there is this --
   
   " Saudi Minister of State for Foreign Affairs Adel al-Jubeir told aFox News reporter on Saturday that he wasn’t aware of Mr Biden confronting the crown prince, known as MBS, over his role in Khashoggi’s 2018 execution.
   
   “I didn’t hear that particular phrase,” the Saudi minister said."
   
   “The Saudi foreign minister says he didn’t hear you accuse the crown prince of Khashoggi’s murder. Is he telling the truth?” asked a White House reporter.
   
   Mr Biden firmly responded: “No.”
   
   Saudi officials have given conflicting accounts about the closed-door meeting between Mr Biden and MBS in Saudi Arabia on Friday.
   
   Immediately after the controversial meeting, Mr Biden told reporters that he had confronted the crown prince about his role in Khashoggi’s “outrageous” murder and that it was the first issue he raised during their conversation.
   
   “With respect to the murder of Khashoggi, I raised it at the top of the meeting, making clear what I thought of it at the time, and what I think of it now,” he said.
   
   “I made my view crystal clear... for an American president to be silent on an issue of human rights is inconsistent with who we are and with who I am.”
   
   At first, Saudi officials appeared to confirm the remarks.
   https://finance.yahoo.com/news/biden-ac … 15184.html
   
   So, who is not being truthful?
   
   Oh well, I would fully expect gas to start going higher, and we usher in the dirty word "recession" when July 28th rolls around with the new economic stats.
   
   What a guy...

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