Trump says the Fed should not lower the interest rate...

[Rambunctious]

When did we stop selling oil and natural gas?

Its not that we stopped but we have slowed sales making way for Russia and Iran to sell their sweet crude to China and Europe... look it up if you can... but its hard to find on the fake news internet....

https://www.reuters.com/business/energy/growth-us-crude-production-slow-sharply-2024-eia-says-2024-02-06/

America's oil and gas production hit record highs at the end of 2023 and continues to be close to all-time highs, but growth has slowed down in oil output while gas production has started to fall after a mild 2023/2024 winter boosted inventories to above-average levels and sunk Henry Hub gas prices to $1.80 per million...

Growth in U.S. Oil and Gas Output Slows Down | OilPrice.com

This year's increase in shale and overall U.S. crude production will be much lower than in the past two years, analysts and forecasters say.

oilprice.com

The axis of evasion: Behind China’s oil trade with Iran and Russia

Beijing has developed a way to import Iranian and Russian oil while bypassing the Western financial system and shipping services.

www.atlanticcouncil.org

In response, Iran and Russia have redirected oil shipments to China—the world’s largest importer of crude oil. In 2023, China saved a reported ten billion dollars by purchasing crude oil from sanctioned countries such as Iran and Russia.

 

[Winston]

Its not that we stopped but we have slowed sales making way for Russia and Iran to sell their sweet crude to China and Europe... look it up if you can... but its hard to find on the fake news internet....

https://www.reuters.com/business/energy/growth-us-crude-production-slow-sharply-2024-eia-says-2024-02-06/

America's oil and gas production hit record highs at the end of 2023 and continues to be close to all-time highs, but growth has slowed down in oil output while gas production has started to fall after a mild 2023/2024 winter boosted inventories to above-average levels and sunk Henry Hub gas prices to $1.80 per million...

Growth in U.S. Oil and Gas Output Slows Down | OilPrice.com

This year's increase in shale and overall U.S. crude production will be much lower than in the past two years, analysts and forecasters say.

oilprice.com

The axis of evasion: Behind China’s oil trade with Iran and Russia

Beijing has developed a way to import Iranian and Russian oil while bypassing the Western financial system and shipping services.

www.atlanticcouncil.org

In response, Iran and Russia have redirected oil shipments to China—the world’s largest importer of crude oil. In 2023, China saved a reported ten billion dollars by purchasing crude oil from sanctioned countries such as Iran and Russia.

Your articles do not support your premises. No where does it say oil and gas exports have decreased. Nor does it say production has declined, merely that the rate of growth is slowing.

U.S. Energy Independence Soars To Highest Level In Over 70 Years

Newly released data from the Energy Information Administration provides a clear picture of U.S. energy independence in 2022.

www.forbes.com

From the Republican Platform

MAKE AMERICA THE DOMINANT ENERGY PRODUCER IN THE WORLD, BY FAR.

Sorry, too late, Biden has already done that. We produce more oil than any country in the world, and we export more than every country outside of Saudi Arabia. We export more natural gas than any country in the world, when just a few years ago, we barely exported a whiff. Russia dominated that market. You know who was president then, Donald Trump.

Matter of fact, since 2022 the US has produced more oil in any given year than Trump did in his best year. Again, from the platform.

Under President Trump, the U.S. became the Number One Producer of Oil and Natural Gas in the World — and we will soon be again

WTF they mean "again", we are now, and from all indications, will be for years going forward.

 

[Rambunctious]

Your articles do not support your premises. No where does it say oil and gas exports have decreased

It goes hand and hand if production slows so do foreign sales....

 

[Winston]

It goes hand and hand if production slows so do foreign sales....

You have never had an Economics class have you?

 

[Rambunctious]

You have never had an Economics class have you?

I studied economics and macroeconomics in college....

 

[Winston]

I studied economics and macroeconomics in college....

Then you should know, demand is what drives prices, not production. And oil prices are dictated by the cobweb pricing model. Probably a little advanced for an introductory Micro class but certainly covered in a second level Micro class.

 

[Rambunctious]

Then you should know, demand is what drives prices, not production. And oil prices are dictated by the cobweb pricing model. Probably a little advanced for an introductory Micro class but certainly covered in a second level Micro class.

demand drives production if the politicians can stay out of the way....

 

[Winston]

demand drives production if the politicians can stay out of the way....

No, prices drive production. A clear example of that is the reduction of production, throughout the world, during the Covid crisis.

 

[Fort Fun Indiana]

demand drives production if the politicians can stay out of the way....

The politicians have exactly zero effect on oil production, barring when they subsidize to prevent shortages (increasing production).

Oil companies are not even producing to capacity. Because they will make less money, if they do.

Under President Trump, the U.S. became the Number One Producer of Oil and Natural Gas in the World — and we will soon be again

The US is the world's top oil producer.

 

[Harpy Eagle]

It goes hand and hand if production slows so do foreign sales....

Wrong again

 

[Harpy Eagle]

I studied economics and macroeconomics in college....

you should demand a refund, you were ripped off

 

[Rambunctious]

No, prices drive production. A clear example of that is the reduction of production, throughout the world, during the Covid crisis.

How do prices drive production when lack of production raises prices?.... you aren't making sense... production increases when demand increases regardless of price...

 

[Rambunctious]

Wrong again
View attachment 978995

Get out of here with your stupid graphs....

 

[Harpy Eagle]

Get out of here with your stupid graphs....

Sorry they are too complicated for someone that claims to have taken economics and macroeconomics in college...maybe you can find a 5th grader to explain it to you.

 

[Winston]

The US is the world's top oil producer.

So why the damn "again" thing? It is really bothersome, there are so many outright lies and distortions in that platform that it is cause for real alarm. It never used to be that way.

I had a discussion with my wife this morning. We worked together back in the dark ages. Several times, I called out management, they were attempting to do things that were illegal. My wife was laughing as to how they reacted when I called them out and they knew I was right. But I told her the sad reality was they attempted to do it in the first place, knowing full well it was wrong.

That applies here. I have read the Republican platform, I have scanned the Project 25 screed. Lies, distortions, it absolutely screams, we are about to get fucked.

 

[Winston]

How do prices drive production when lack of production raises prices?.... you aren't making sense... production increases when demand increases regardless of price...

Look, I am old school. You are referencing Say's Law, which is utter bullshit. Please, take a moment and google Cobweb pricing theory. We could talk about adaptive expectations but I believe that is too advanced for you. Not being mean, just being real.

To a certain extent, you are right, lack of production raises prices, which is why Trump supported OPEC's decision to cut production. Saudi Arabia is in the catbird's seat, they can turn it off or turn it on, at will. For the US, it ain't that simple. Saudi Arabia's cost of production is around three dollars a barrel. It is sweet crude, "sweet" being the primary word. The US, not so sweet.

 

[Rambunctious]

Look, I am old school. You are referencing Say's Law, which is utter bullshit. Please, take a moment and google Cobweb pricing theory. We could talk about adaptive expectations but I believe that is too advanced for you. Not being mean, just being real.

To a certain extent, you are right, lack of production raises prices, which is why Trump supported OPEC's decision to cut production. Saudi Arabia is in the catbird's seat, they can turn it off or turn it on, at will. For the US, it ain't that simple. Saudi Arabia's cost of production is around three dollars a barrel. It is sweet crude, "sweet" being the primary word. The US, not so sweet.

The cobweb model does not work in Oil and Gas production due to its global reach and influence.... too many variables...
there are three types of cobweb models none work in oil and gas....

 

[Winco]

The economy must be allowed to improve naturally without the Fed's fingers in the pie...

How's that working out?
You doing ok?

and start drilling and selling oil and natural gas again

What, we quit drilling and quit selling natural gas?

Who knew?

 

[Rambunctious]

How's that working out?
You doing ok?

What, we quit drilling and quit selling natural gas?

Who knew?

We are producing 1.4 billion barrels a day... under Trump it was 4.2 billion barrels a day... Biden and Harris has made it very expensive to frack for natural gas deposits so we have slowed in gas as well... this is why the pump price is being so stubborn and until we get the cost of energy back down the cost of everything will stay higher than it should be and that is why inflation ticked up again today...

 

[Rambunctious]

Trump turns up heat on Fed ahead of expected rate cuts: 'It's something that they know they shouldn’t be doing.'

New comments from former President Donald Trump are turning up the political pressure on the Federal Reserve just as policy makers make it clear they are getting closer to cutting interest rates.

www.yahoo.com

New comments from former President Donald Trump are turning up the political pressure on the Federal Reserve as policy makers make it clear they are getting closer to cutting interest rates.

In an interview with Bloomberg published Tuesday night, the Republican nominee again reiterated that central bank officials should not ease monetary policy before the November election.

"It’s something that they know they shouldn’t be doing," he said.


Crazy how different of a tune he sings when he is not sitting in the White House.

In 2019 he was whining about the cuts not being big enough when the rate was only 2%.

https://www.washingtonpost.com/business/2019/09/18/trump-wants-big-cut-federal-reserve-instead-get-ready-small-one/

Trump said today about this rate cut that either the feds are being political at the nations expense or the economy is in worse shape than we are being told.... and the feds may be concerned about a recession....