If "price gouging" is happening, why didn't Biden & Harris stop it? (Poll)

[Marener]

Explain

Lots to explain. OPEC had increased production in 2018 as there were concerns about reduced output from Venezuela and Iran. Iranian sanctions were relaxed by Trump so that never really had that big of an effect.

The real market shock was the dramatic rise in US shale oil production which drove prices down in the late part of 2018. The crazy thing about US shale production was that it was losing tons of money for producers but they kept on producing anyway. It was unsustainable and prices were set to increase back to the normal range like they were in 2017 except that COVID hit first and dramatically reduced demand which we are still recovering from.

 

[whitehall]

Asking a bunch of people on the USMB why Biden/Harris did or didn't do something is a meaningless effort. The truth of the matter is that if the media was honest we would know these things. As long as the media is in the business of protecting democrat administrations we will never get any answers.

 

[j-mac]

Lots to explain. OPEC had increased production in 2018 as there were concerns about reduced output from Venezuela and Iran. Iranian sanctions were relaxed by Trump so that never really had that big of an effect.

The real market shock was the dramatic rise in US shale oil production which drove prices down in the late part of 2018. The crazy thing about US shale production was that it was losing tons of money for producers but they kept on producing anyway. It was unsustainable and prices were set to increase back to the normal range like they were in 2017 except that COVID hit first and dramatically reduced demand which we are still recovering from.

You just contradicted your own narrative

 

[Marener]

You just contradicted your own narrative

Explain.

 

[struth]

Lots to explain. OPEC had increased production in 2018 as there were concerns about reduced output from Venezuela and Iran. Iranian sanctions were relaxed by Trump so that never really had that big of an effect.

The real market shock was the dramatic rise in US shale oil production which drove prices down in the late part of 2018. The crazy thing about US shale production was that it was losing tons of money for producers but they kept on producing anyway. It was unsustainable and prices were set to increase back to the normal range like they were in 2017 except that COVID hit first and dramatically reduced demand which we are still recovering from.

What sanctions and when did trump lift them on iran?

I see xiden and harris lifted sanctions in Feb 2021.

 

[j-mac]

Explain.

You said that it was because of greedy oil producers, increasing profit at the expense of the public. Now you come back and say they produced shale at a loss but did it anyway…if these corporations are so hell bent on profit, why would they do anything at a loss…?

 

[Superbadbrutha]

I think you have me confused with Kameltoe Harris. Weird

Pretty sure you have bite more Johnsons than she has.

 

[struth]

Pretty sure you have bite more Johnsons than she has.

I doubt that, from Montel Williams to old men, to white guys, she doesn’t seem to have much standards

 

[Marener]

You said that it was because of greedy oil producers, increasing profit at the expense of the public. Now you come back and say they produced shale at a loss but did it anyway…if these corporations are so hell bent on profit, why would they do anything at a loss…?

When did I say it was because of greedy oil producers?

They’re greedy, sure.

They were producing oil at a loss in 2018-2019 kind of in a frenzy to push each other out of business. While they were hemorrhaging money, they were hoping that they could hold out until the other guys hemorrhaged too much and shut down.

It was a weird point in time for oil production but it was never going to last and had nothing to do with Trump.

 

[struth]

When did I say it was because of greedy oil producers?

They’re greedy, sure.

They were producing oil at a loss in 2018-2019 kind of in a frenzy to push each other out of business. While they were hemorrhaging money, they were hoping that they could hold out until the other guys hemorrhaged too much and shut down.

It was a weird point in time for oil production but it was never going to last and had nothing to do with Trump.

Which companies were operating at a loss in 2018 and 2019?

 

[Superbadbrutha]

I doubt that, from Montel Williams to old men, to white guys, she doesn’t seem to have much standards

I am pretty sure you have had just as many white men as she has or are you trying to tell us that you have only been with one white man.

 

[Man With A Plan]

Why didn't Trumpy stop it?

Tell me what specific policies is causing runaway inflation.

Trump's average inflation rate for all four years he was in office was always under 2%, Super...you don't have to fix something that isn't broken!
Biden caused rampant inflation and Harris cast the deciding votes in the Senate to do it!

 

[struth]

I am pretty sure you have had just as many white men as she has or are you trying to tell us that you have only been with one white man.

Hahaha

Your obsession with my sex life is weird

 

[Superbadbrutha]

Trump's average inflation rate for all four years he was in office was always under 2%, Super...you don't have to fix something that isn't broken!
Biden caused rampant inflation and Harris cast the deciding votes in the Senate to do it!

So you are telling me that the day Biden was sworn in inflation just went through the roof. How long does it take inflation to set in?

 

[Superbadbrutha]

Hahaha

Your obsession with my sex life is weird

Your obsession with VP Harris's is weird.

 

[j-mac]

So you are telling me that the day Biden was sworn in inflation just went through the roof. How long does it take inflation to set in?

How did you get that from what he wrote?

 

[struth]

Your obsession with VP Harris's is weird.

Huh? I didn’t nominate her…what a weird thing to say

 

[Man With A Plan]

So you are telling me that the day Biden was sworn in inflation just went through the roof. How long does it take inflation to set in?

Inflation went through the roof because Biden pushed through two massive government stimulus packages right as the US was coming out of the Covid shutdowns. He was warned by Larry Summers that doing so ran the risk of being highly inflationary but he ignored those warnings. Then to make matters worse his administration failed to take steps against serious supply chain issues. Too much money chasing too few goods means inflation going "through the roof"!

 

[Man With A Plan]

So you are telling me that the day Biden was sworn in inflation just went through the roof. How long does it take inflation to set in?

As for how long it takes for inflation to set in? Not that long actually. What you need to know is that once it does...prices almost never go back to where they were. The 20% price increases that Joe Biden saddled the American people with are going to be almost impossible to reverse.

 

[dblack]

Price gouging isn't inflation. I doesn't cause inflation. It has nothing to with inflation.