Why these statements have added to inflation..."We Are Going To Get Rid of Fossil Fuels” and "“no more drilling...there is no more drilling"

[healthmyths]

When Biden made this first statement in Sep 6, 2019 he was running for President..
"I want you to look into my eyes, I guarantee We Are Going To Get Rid of Fossil Fuels”

Gas price per gallon was $2.68 in Sep 2019.. Gas Sep 2020 $2.27 (decrease 41 cents) Gas Sep 2021 3.27 (33% higher)
So in July 2022 gas was $4.67 or nearly 75% higher than when he first made that statement.
Production as of 8/2022 ...11,975,000 barrels per day vs 9/2019 12,590,000 or 615,000 barrels more than today...
I wonder why?

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

So as the law of supply and demand goes...i.e. "If demand exceeds supply, prices will rise"
So that explains how Biden telling oil companies their future was over, why would oil companies invest in exploration or refineries?
Actual quote from the CEO of the LARGEST American oil company, Chevron..

Oil & Gas 50 2023 | Brand Value Ranking League Table | Brandirectory

The annual report on the most valuable and strongest Oil & Gas brands

brandirectory.com

U.S. Will Never Build Another Oil Refinery, Chevron CEO Says
“My personal view is there will never be another new refinery built” on U.S. soil, said Wirth. “You’re looking at committing capital 10 years out, that will need decades to offer a return for shareholders, in a policy environment where governments around the world are saying,
‘We don’t want these products.’”

U.S. Will Never Build Another Oil Refinery, Chevron CEO Says

The United States’ capacity to refine oil into fuel has shrunk significantly during the pandemic because of the closure of refineries. And it may never come back, says the CEO of the second-largest oil company in the U.S.

www.theenergymix.com

So if the largest oil refinery company isn't going to build and oil production going down, WHAT does that mean?
Well these corporations ARE NOT going to spend $$ in exploration/production for sure!

But there are 6,000 other reasons that when oil exploration/production goes down inflation increases and these are the products that use oil that is going to be gone per the President.

 

[g5000]

When Biden made this first statement in Sep 6, 2019 he was running for President..
"I want you to look into my eyes, I guarantee We Are Going To Get Rid of Fossil Fuels”

Gas price per gallon was $2.68 in Sep 2019.. Gas Sep 2020 $2.27 (decrease 41 cents) Gas Sep 2021 3.27 (33% higher)
So in July 2022 gas was $4.67 or nearly 75% higher than when he first made that statement.
Production as of 8/2022 ...11,975,000 barrels per day vs 9/2019 12,590,000 or 615,000 barrels more than today...
I wonder why?

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

View attachment 724293
So as the law of supply and demand goes...i.e. "If demand exceeds supply, prices will rise"
So that explains how Biden telling oil companies their future was over, why would oil companies invest in exploration or refineries?
Actual quote from the CEO of the LARGEST American oil company, Chevron..

Oil & Gas 50 2023 | Brand Value Ranking League Table | Brandirectory

The annual report on the most valuable and strongest Oil & Gas brands

brandirectory.com

U.S. Will Never Build Another Oil Refinery, Chevron CEO Says
“My personal view is there will never be another new refinery built” on U.S. soil, said Wirth. “You’re looking at committing capital 10 years out, that will need decades to offer a return for shareholders, in a policy environment where governments around the world are saying,
‘We don’t want these products.’”

U.S. Will Never Build Another Oil Refinery, Chevron CEO Says

The United States’ capacity to refine oil into fuel has shrunk significantly during the pandemic because of the closure of refineries. And it may never come back, says the CEO of the second-largest oil company in the U.S.

www.theenergymix.com

So if the largest oil refinery company isn't going to build and oil production going down, WHAT does that mean?
Well these corporations ARE NOT going to spend $$ in exploration/production for sure!

View attachment 724293

But there are 6,000 other reasons that when oil exploration/production goes down inflation increases and these are the products that use oil that is going to be gone per the President.
View attachment 724318

Why do you keep starting the same old topics, posting the same old horseshit?

You suffer from magical thinking. "Duh more I repeats sumthin, the truer it becomes!"


Here's the reality:

New Data: Biden’s First Year Drilling Permitting Stomps Trump’s By 34%​

New federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration’s first-year total of 2,658.

Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management’s New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits — more than twice the 71 drilling permits Trump approved in that state in his first year.

 

[g5000]

Biden did not cause the GLOBAL inflation problem, retards.

The central banks did.

 

[BluesLegend]

Idiot Dems will rush in here to tell us Biden has no control over gas, heating oil and inflation in 3...2...1 or sooner ^^^

 

[g5000]

Idiot Dems will rush in here to tell us Biden has no control over gas, heating oil and inflation in 3...2...1 or sooner ^^^

The only tards in this picture are you idiots who think he does.

 

[Toddsterpatriot]

Biden did not cause the GLOBAL inflation problem, retards.

The central banks did.

Doesn't Biden have Powell's phone number?

 

[Toddsterpatriot]

When Biden made this first statement in Sep 6, 2019 he was running for President..
"I want you to look into my eyes, I guarantee We Are Going To Get Rid of Fossil Fuels”

Gas price per gallon was $2.68 in Sep 2019.. Gas Sep 2020 $2.27 (decrease 41 cents) Gas Sep 2021 3.27 (33% higher)
So in July 2022 gas was $4.67 or nearly 75% higher than when he first made that statement.
Production as of 8/2022 ...11,975,000 barrels per day vs 9/2019 12,590,000 or 615,000 barrels more than today...
I wonder why?

U.S. Field Production of Crude Oil (Thousand Barrels per Day)

View attachment 724293
So as the law of supply and demand goes...i.e. "If demand exceeds supply, prices will rise"
So that explains how Biden telling oil companies their future was over, why would oil companies invest in exploration or refineries?
Actual quote from the CEO of the LARGEST American oil company, Chevron..

Oil & Gas 50 2023 | Brand Value Ranking League Table | Brandirectory

The annual report on the most valuable and strongest Oil & Gas brands

brandirectory.com

U.S. Will Never Build Another Oil Refinery, Chevron CEO Says
“My personal view is there will never be another new refinery built” on U.S. soil, said Wirth. “You’re looking at committing capital 10 years out, that will need decades to offer a return for shareholders, in a policy environment where governments around the world are saying,
‘We don’t want these products.’”

U.S. Will Never Build Another Oil Refinery, Chevron CEO Says

The United States’ capacity to refine oil into fuel has shrunk significantly during the pandemic because of the closure of refineries. And it may never come back, says the CEO of the second-largest oil company in the U.S.

www.theenergymix.com

So if the largest oil refinery company isn't going to build and oil production going down, WHAT does that mean?
Well these corporations ARE NOT going to spend $$ in exploration/production for sure!

View attachment 724293

But there are 6,000 other reasons that when oil exploration/production goes down inflation increases and these are the products that use oil that is going to be gone per the President.
View attachment 724318

You never claimed a reduction of over 100% in any of your silly Excel spreadsheets?

 

[BluesLegend]

The only tards in this picture are you idiots who think he does.

LMAO thanks for playing.

 

[g5000]

For tards with the intellectual bandwidth of a bumper sticker, "Because Biden!" is easy to parrot and requires zero cognition.

However, none of them are able to explain how Biden caused inflation all over the planet.

This link does a very good job explaining, but it is much longer than a tweet, so not one of the tards will read it.

But for those of you with an honest desire to understand, enjoy:

Hollow Men, Hollow Markets, Hollow World

Over the past 25 years, our leaders have intentionally constructed an Apocalypse Now world of proclamation and fiat, where our wealth has grown much faster

www.epsilontheory.com

 

[Leo123]

Biden did not cause the GLOBAL inflation problem, retards.

The central banks did.

Heads of countries can affect world economy, Biden said so with his ‘because Putin’ statements and excuses.

 

[healthmyths]

You never claimed a reduction of over 100% in any of your silly Excel spreadsheets?

reduction of what? What a dumb comment!

 

[BluesLegend]

This winter Biden and Dems are going to get ripped a new one when the heating bills arrive.

 

[g5000]

Before the 2008 crisis, the Federal Reserve's portfolio was $870 billion. About 7% of GDP

To rescue the economy in 2008, the Fed began a program called Quantitative Easing (QE). However, they did not end QE when the crisis had passed. They enacted QE1, then QE2, then QE3, then QE4ever.

Their Zero Interest Rate Policy (ZIRP) kept interest rates artificially low for way too long, causing corporations to borrow more than they should, and investors to put their money in ever higher risks in order to get any kind of returns.

By 2019, the Fed's portfolio had swelled to $3.9 trillion. About 18% of GDP.

During the pandemic, the Fed's portfolio skyrocketed to $9 trillion.

Nine fucking trillion dollars, retards.

That's where your inflation is coming from.
'
I wrote a topic several years ago about how this was all going to come down:

The Fed's Bond Bubble Doomsday Machine

When you buy a bond, you are making a loan to the issuer. That bond is money owed to the buyer, making it an asset. When the Federal Reserve buys a US Treasury bill, note, or bond, it is making a loan to the federal government because the federal government has appropriated more spending than...

www.usmessageboard.com

At the time I wrote the topic, the Fed's portfolio was 3 trillion. So just imagine 9 trillion.

As I mentioned in my last post, the Fed holds about $3 trillion in assets. That's an extra $3 trillion of money that would not ordinarily be in our economy.

That extra liquidity is not causing any inflationary problems right now. In fact, it prevented runaway deflation.

We can debate all day long over whether we should have allowed that deflation to occur, but that's another topic.

Anyway, as I said, the velocity of money is sluggish, and so inflation is not getting away from us...yet.

But what happens when the economy begins warming up again? What happens when people start digging up that $3 trillion from their backyards and begin spending it, increasing the velocity of money in our economy?

Inflation happens, that's what.

 

[g5000]

Recent balance sheet trends

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[elektra]

Democrats and RINO republicans want to spend $100 trillion on the Renewable Heavy Industry

 

[Toddsterpatriot]

reduction of what? What a dumb comment!

Reduction of any fucking thing.

What a dumb comment!

I agree, claiming something was reduced by more than 100% is pretty dumb.

 

[g5000]

$9 trillion.

Too much cash chasing too few goods.

Textbook.

 

[BluesLegend]

Biden continuously attacks fossil fuels, the price of gas and diesel and everything transported by fuel skyrockets, Dems shit themselves trying to deny responsibility.

 

[Toddsterpatriot]

For tards with the intellectual bandwidth of a bumper sticker, "Because Biden!" is easy to parrot and requires zero cognition.

However, none of them are able to explain how Biden caused inflation all over the planet.

This link does a very good job explaining, but it is much longer than a tweet, so not one of the tards will read it.

But for those of you with an honest desire to understand, enjoy:

Hollow Men, Hollow Markets, Hollow World

Over the past 25 years, our leaders have intentionally constructed an Apocalypse Now world of proclamation and fiat, where our wealth has grown much faster

www.epsilontheory.com

However, none of them are able to explain how Biden caused inflation all over the planet.

Who is blaming Biden's idiocy for causing world-wide inflation?

His idiocy is to blame for US inflation.

 

[Toddsterpatriot]

For tards with the intellectual bandwidth of a bumper sticker, "Because Biden!" is easy to parrot and requires zero cognition.

However, none of them are able to explain how Biden caused inflation all over the planet.

This link does a very good job explaining, but it is much longer than a tweet, so not one of the tards will read it.

But for those of you with an honest desire to understand, enjoy:

Hollow Men, Hollow Markets, Hollow World

Over the past 25 years, our leaders have intentionally constructed an Apocalypse Now world of proclamation and fiat, where our wealth has grown much faster

www.epsilontheory.com

What units is this guy using?