Biden's Energy Policy delivers record high exports of gas (LNG)

Inflation is way down. Employment is up. Income is up, even accounting for inflation. Stock market is up. LNG and oil production are up. GDP is up. Consumer spending is up, even accounting for inflation. What metrics would you like to see?

 

The means to produce is always there. Companies need a reason to increase production. Europe’s demand due to Russias policy is a huge factor for IS companies to increase production.

This increase is more so in spite of Bidens policies since his admin has made it clear fossil fuels have no future in our country.

 

Income has not caught up with inflation yet. Inflation is not down from where the 2% in mid 2021 would have us.

You could go to work on city’s cherry farm as well.

 

From what baseline has income not caught up to inflation? And the second is a nonsensical sentence. Want to try again?

BTW, I listed a lot more metrics than you did. So, were you cherry picking? Why or why not?

 

Even Crypto is on a huge upswing. This is the greatest time in human history to be alive.

 

Ftr, permits and billions invested long before Biden to build pipelines and LNG facilities driven by dirt cheap us nat gas is why exports are at record levels

 

Inflation started in early 2022 to over 7%, and continued to rise at 4% in 2023. Probably going run a hair under 3 in 2024. Most companies gave increases of a little over 4% in 2023. Even with the recent strikes, UAW workers got nice rat bonuses and about 5-8% raises. So inflation for the period was 11.8% and most people got 4-8%. Even if 2023 is 4% average people still have not caught up with inflation.

 

Factually false. In both Q4 2021 and Q1 2022, the index for median usual weekly real earnings was 362, and it is currently 365.

Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over

 

That's been changing.
Wage growth is outrunning inflation at last. Are workers feeling it?

 

surprised to see the prices this high for the spr purchases

note that the average sale price for 180M barrels was north of $96 per barrel

US Scores $4 Billion Windfall on Oil Reserve Sales (investopedia.com)

Emergency releases from the SPR are set to end this month as the Biden administration has sought to ease the price of gasoline for consumers. Over the release period, the administration sold 180 million barrels of crude at an average price of $96.25 per barrel, well above the current price of about $74 per barrel. For now, that translates into an almost $4 billion gain.

The breakdown so far of DOE oil purchases to refill the SPR (msn.com)

The Department of Energy announced Tuesday that it has awarded contracts for its December purchase of 3 million barrels of crude oil for the Strategic Petroleum Reserve, the United States’s emergency supply of petroleum. This brings the total amount of oil purchased in 2023 to 13.8 million barrels — a drop in the bucket as the Biden administration attempts to refill the reserve after selling off more than 40% of its stockpile.

The December contracts would purchase the crude oil at an average price of $77.31 a barrel — hovering slightly above the average price of crude purchased throughout the year by the DOE, which was $75.63. The purchase, which was announced earlier this month, is scheduled to be delivered in March 2024.
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As of Dec. 15, crude oil reserves were sitting at approximately 352.5 million barrels, according to the U.S. Energy Information Administration — levels that are roughly similar to those in the 1980s. The SPR’s oil stocks had peaked in 2011, holding more than 726 million barrels. But since then, stockpiles have declined, with the U.S. withdrawing oil more frequently in recent years. Last year, the Biden administration authorized the release of roughly 180 million barrels from the SPR — the largest sale in the country’s history. That was an effort to curb oil prices, which skyrocketed following market disruptions caused by the pandemic and the Russian invasion of Ukraine.

 

Gas prices will fall in 2024 and Americans will spend $32 billion less on fuel, GasBuddy predicts | CNN Business

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Gas prices will fall in 2024 for the second year in a row, according to GasBuddy projections shared exclusively with CNN.
GasBuddy, which had a forecast for 2023 that proved to be eerily accurate, expects US gas prices will average $3.38 a gallon in the key election year of 2024.

 

I have always been more in the middle kind of guy. The left just moved so far left it makes me feel more right.
I think a president can be somewhat helpful of the fossil fuel industry mostly by just staying out of the way. In fact that’s true for the economy in general.

 

Maybe you can give me an economic lesson here. You guys' continually talk about wage growth and how it has out paise inflation.
If inflation in 21 was around 6% and 22 around 8% and it looks like 23 will end around 3%, doesn't that mean we are paying around 17% more than we did in 2020? So that would mean most have seen a 17- 20% increase in their income?

 

maybe this will help. when comparing wages vs cpi, the worker still has room to go to catch up.

Wage growth vs. inflation: Here's when workers may catch up (cnbc.com)

The consumer price index, a government inflation measure, has risen 17.5% since the pandemic, while wage growth on average has only grown slightly more than that, according to Julia Pollak, chief economist at ZipRecruiter. Workers should ideally get annual increases to keep up with inflation and to account for productivity growth, Pollak said. Before the pandemic, that worked out to 3.5% — with 2% for inflation and 1.5% for productivity.

From 2013 to 2019, wages grew faster than inflation, on average, she said. But since the pandemic, wages have only grown about as fast as inflation, on average. “Workers have not seen their purchasing power expand each year,” Pollak said. “They’re just kind of treading water.”
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Industries where wages are rising at a quicker rate, according to Bankrate, include accommodation and food services, up 19.6% since January 2021; leisure and hospitality, up 18.9%; and retail, up 16%.

Other areas are lagging, with education workers seeing just an 8.6% pay increase since January 2021, while financials are up 10.2%; construction, 11%; and manufacturing, 11.7%.

 

Utter nonsense. I picked late 2021/early 2022 because that is when the inflation got going across the board. Funny how I never knew where wages were ahead of inflation. I never got a thank you from any of my employees. Maybe I will mention your position at my next site meeting. I’m sure they will all be glad to know that they were overpaid until late 2021.

 

Not exact but from your examples unless you are in the food service or hotel business you have 7-10% less purchasing power? Could explain why most people feel Bidenomics is failing?