House oversight committee gets to root of inflation... corporate greed.

You'r all over the place Ukraine.

 

Excuse me, did you say House and honesty in the same committee?

 

If covid relief, increased Gov spending/stimulus isn’t inflationary how are tax cuts inflationary?

 

Maybe you are more productive.

 

huh? Why would u think I don’t think those things are inflationary? I even mentioned stimulus in the post you responded to.

 

I am not sure, but it seems like you want the government to stop this and end free markets. You should tell all the Venezuelan's this so they can go back home.

 

Oh… there’s an inflation problem?
Oh… a Democrat is in the White House?
Corporate greed!!!!

 

Major Oil producers decreased CapEx in response to Biden’s any Oil campaign.
He may not have passed any laws but his “I’m going to shut down the fossil fuel industry” was taken seriously.

Part of the price of oil is the perceived amount of future supply vs demand.
Gasoline price is affected by oil price and refining capacity vs demand. Refineries have lost capacity and this administration is not friendly toward ICE thus it’s unlikely that any big companies will step up and build new refineries.

Since our perceived supply is in question that is alert of the reason prices are staying high. Certainly the Ukraine and OPEC issues have an effect.

 

I may have misunderstood your posts.
Apologies I just wanted to be clear on your stance.

 

A weak take for an economist who just decides to ignore 6 trillion dumped into the economy in 2 years, ultra low interest rates and QE until the cows come home.
He also chooses to ignore oil is traded globally and there really isn’t any way for Shell to “lower the price of a barrel of oil”, any more than a farmer can lower the price of the corn or wheat he sells.

I’m sure he forgot a few years ago when oil was $20/bbl and those same companies were losing billions.

He also ignores many of the stock buy backs will increase stock prices and returns for all the unions that own Shell oil in their pension funds.

 

BREAKING: Corporations attempt to maximize profits.

 

to be clear. I thought we overdid it on Covid stimulus & that def fueled inflation. In general, at the very macro level monetary & fiscal policies around the world seemed to err on the side of caution - that is, helping UE, the economy. Those 2 things in conjunction with the pandemic disruption of labor mtks & supply lines are, IMO, the root cause of infl. In the US, I think we over stimulated & kept monetary policy too loose too long. To a lesser degree, Trump's terrible protectionism & anti globalization & turning trade deals into welfare labor programs also are inflationary, but prob not main culprits. The neg effects of that shit will mostly be long term & more severe. &, since dems like lefty crap, they have left that stuff in place.

 

The first was needed due to the nature of the beast, the second was pushing it and the Inflation reduction act was just a total joke.

 

Did you fact check this with Robert Reich?

 

If you don’t think him campaigning about how he was going to end fossil fuels and that those same fossil fuel companies wouldn’t listen to that rhetoric you’re very naive.
It’s not just about production now, it’s about future production.

Every industry looks to what the presidential candidate says for clues to how they will Govern.

 

It may help if you actually understood a bit of history here. Biden hasn’t really done anything to “cap” oil production.

During the past 15 years, there has been a fracking boom, and a massive glut of oil world wide. Fracking companies were losing massive amounts of money, hundreds of billions of dollars.

Opinion | Hardly Anyone Talks About How Fracking Was an Extraordinary Boondoggle

Then Covid came and the demand for oil went down causing even more excess supply. Oil prices briefly went negative.

As oil prices plunged Trump demanded Saudi to cut oil supply and threatened to cut of military aid if they failed to do so.

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

Finally, when things start to recover, energy companies wise up, at pressure from shareholders to stop drilling all of this excess oil and losing billions. And they did. Eventually demand caught up and surpassed supply. You could argue that Biden and democrats made it marginally worse with all of their talk of eliminating fossil fuels in a decade, reinforcing oil companies decision not to invest in the sector.

On the flip side, all those crying about “corporate greed!!” were quite happy to sit back and enjoy the excesses of the fracking industry and their hundreds of billions of losses, which were passed onto the consumer. But now that shareholders (with an assist from Trump, and a much lesser degree, Biden) are tired of losing money, it is corporate greed!!!

 

I think you’re grasping at straws here. Oil production has steadily increased under Biden at the same rate it was increasing under Trump in this post-Covid recovery period.