There goes Biden again. He has reduced the strategic petroleum reserve to lows not seen since 1983 and now he plans to reduce further. War could be on our doorstep and the US wouldn't have enough oil to fight a conventional war. Biden's desire to win an election outweighs his concern for the American people: Joe Biden ready to reopen US oil stockpile if petrol prices surge again (ft.com) The Biden administration is ready to release more oil from its strategic stockpile to halt any jump in petrol prices this summer, as the White House battles to contain inflation ahead of the November election. Amos Hochstein, President Joe Biden’s closest adviser on energy, said that prices at the pump were “still too high for many Americans” and he would like to see them “cut down a little bit further”. “We will do everything we can to make sure that the market is supplied well enough to ensure as low price as possible for American consumers,” Hochstein told the Financial Times. “I think that we have enough in the SPR if it’s necessary,” he added, referring to the country’s Strategic Petroleum Reserve.
THe OP has been hoping for high gas prices for almost a year now. Since it hasn’t hit he’s now hoping for a war. I will never understand right wingers.
Here's a good one where he asked us to bookmark his post predicting stagflation in 2023. US GDP grew by 2.5% in 2023 and inflation dropped from 6.5% in December 2022 to 3.4% in December 2023. Unemployment drops again, 2x more new jobs v expected
Read again folks, not my prediction. Biden's closest adviser apparently is willing to drain the SPR to keep gas prices down so the dems can attempt to win an election regardless of the consequences if the US needed to use the SPR. How about this Biden, actually change your policies on energy and admit to the American people rather than putting band aides on cuts to fool the democrat sheeple to keep voting for dems. Of course, it won't happen as Biden can't go into a campaign rally and admit to making the change which further cements his losing.
Oh, this is a thread where you complain how we aren't pumping enough oil, not a thread where you complain about how the only reason that inflation is down is because we are pumping so much oil?
I don't know who is to blame but, I do think the high fuel prices drove inflation over the last 3 plus years. During that time all Biden has claimed is that inflation is not bad and the economy is doing great. More people are working bla bla bla. I do know that with the high rates of interest and the inflated prices of houses a couple making 120k a year can not afford a modest 3 bedroom 2 bath house in Ocala or Gainesville these days. You are looking at a house close to 300k these days and rates near 7%. It takes a lot of cash now to get the 20% down to avoid mortgage insurance. If they can pull it off and manage that $2500. mortgage payment good luck buying a car with a small SUV cost well over 30k and paying home and auto insurance along with daycare for a young child. Food cost are double along with double auto and home insurance rates. Higher gas and electric bills and on and on. I am old and fine because I have had my home for many years. I worry about the young families trying to get started without parents that can afford to help pay their way to get started.
One of the most fascinating things about this economy: it is always worse for other people. You know what income groups saw the biggest increase in wages? Lower income groups. Their increases in wages were higher than inflation. And a person making $120,000 a year can afford a $300,000 house.
Those are legitimate concerns, but the solution is not Trump. Nor is it really Biden. Neither candidate has much control over domestic or world economies. If the large corporations and mega wealthy would share the wealth through higher wages, the lower and middle classes would be better able to afford a home. What's really happening in America is the rich are betting richer, and they have the power and influence to convince the citizenry that it's someone else's fault. It's disgraceful in this, the world's richest country.
Or all of his laughably incorrect “red wave” predictions during the November 2022 mid-terms. Strangely, he disappeared off here for a long time right after that didn’t happen.
How Biden broke OPEC: How Joe Biden ‘broke OPEC’ and rewrote the rules for oil trading – Virgin Islands Free Press
