PCE Increases Modestly in June

It is actually 42 million gallons (one million barrels). But to your point that is only enough to supply the NE with gas for a few days (which was the point of the gasoline reserve when Obama set it up).

 

Currently, the expectation for increased oil production outside of OPEC is about 1.2 million barrels per day. 42 gallons of oil per barrel. That means supply of oil will increase by about 50,000,000 gallons per day. From that, you would expect, conservatively, somewhere around an extra 20,000,000 gallons of gas produced, per day, just by non-opec countries on legal markets. So yeah, 1,000,000 gallons is really not a big deal.

 

Ahh, that is substantially different than he was claiming. But yeah, still not doing much.

 

I’m going to assume from your name that maybe you went to Auburn and not UF.

The Target is 2%. The actual rate is 2.5%. 2.5 is 25% higher than 2.0%.

I suppose that next you are going to tell us that it doesn’t matter because inflation is transitory.

 

If you want to believe that gibberish then please go ahead. While you’re at it, grab WarDamn and teach him about fractions and percentage.

 

That's being polite.

 

Almost none of which is driven by even a 1,000,000 barrel release given the overall scale of that market, which I demonstrated to you. Given that you don't even know the difference between barrel and gallon, I am not really sure why you think that you can draw casual links in that market beyond Dunning-Kruger run wild. Regardless, when the scale of increase in supply is in the 10s of millions per day, you aren't seeing huge changes due to a fairly small release.

 

We have the best economy in the world. Is there ANYTHING you actually understand? Like how many quarters to put in the meter to park for an hour? Anything?

 

Of the two of us, you are the one arguing that it is a government policy.

 

Interesting that "the globe" is Europe in your mind. There are 5 other continents that are inhabited by permanent residents.

 

That is a policy. But anybody who knows about scale could tell you why you are wrong.

 

By recognizing that there are multiple continents?