Supply-Side Economics

[whell]

Originally Posted by finnbow

So, when they went up it was Biden's fault, but Biden gets no credit when they come down? The Treasury Dept estimated that the release of hundreds of millions of barrels of oil from the Strategic Reserve reduced gas prices at the pump by $0.40. Now OPEC is talking about releasing more oil after cutting back in the fall to hurt Democrats in the fall election and effective diplomacy by Biden and our allies is by setting a maximum price of $60/barrel for Russian oil. All of these actions helped reduce oil prices.

Your friends at WaPo disagree with you. Example, your claim about OPEC potentially releasing more oil is counter to this section of the WaPo article:

Another wild card is the OPEC Plus consortium of oil-producing nations, which meets next week to consider how much oil its members should continue to ship in the coming months. The group could decide to cut its output to drive prices up.

“The OPEC meeting could be the skunk at the picnic,” said Andrew Gross, a spokesman for AAA. “Trying to guess what they are going to do is tricky.”

[finnbow]

Originally Posted by whell

Your friends at WaPo disagree with you. Example, your claim about OPEC potentially releasing more oil is counter to this section of the WaPo article:

Another wild card is the OPEC Plus consortium of oil-producing nations, which meets next week to consider how much oil its members should continue to ship in the coming months. The group could decide to cut its output to drive prices up.

“The OPEC meeting could be the skunk at the picnic,” said Andrew Gross, a spokesman for AAA. “Trying to guess what they are going to do is tricky.”

Oil prices fell on Monday after it was reported Saudi Arabia and other Organization of the Petroleum Exporting Countries (OPEC) are considering increasing their output quotas.

https://www.barrons.com/articles/oil...di-51669044775

Bottom line - We don't yet know what OPEC will do, but prices have come down considerably in the past several weeks thanks, in part, to Biden's policies (and notwithstanding Saudi Arabia's opposition to Biden because of his disapproval of authoritarian regimes (as opposed to Trump's admiration of them)).

[whell]

Actually I should amend the post above: Biden does have a hand in lowering gas prices. Things are getting so expensive that folks are driving less to save a buck.

[Chicks]

The Biden hate is strong in this one. Wonder how happy he'd be if his Dear Leader were re-elected, and, along with the Repugs, took away his Social Security and Medicare (both, of course, enacted by Dem administrations)? It could happen, because of haters just like him. Such a sad bunch.

[Chicks]

Amusing how little Whell knows about history, and the law.

https://www.cnn.com/2022/12/02/busin...ike/index.html

[finnbow]

Originally Posted by Chicks

Amusing how little Whell knows about history, and the law.

https://www.cnn.com/2022/12/02/busin...ike/index.html

He'll never allow facts to get in the way of a good argument.

[whell]

Originally Posted by Chicks

Amusing how little Whell knows about history, and the law.

https://www.cnn.com/2022/12/02/busin...ike/index.html

I'm quite aware of the law. The surprise is that a Prez and party that proclaim to be pro-labor would use this law to impose a contract and circumvent the collective bargaining process.

But hey, if you want to be amused by that, you go right ahead.

[Chicks]

Amusing how Whell appears to be confused about the authoritarian tendencies of his Dear Leader and today's far-Reich "conservatives". Sad.

[whell]

Originally Posted by Chicks

Amusing how Whell appears to be confused about the authoritarian tendencies of his Dear Leader and today's far-Reich "conservatives". Sad.

What are you bloviating about now, Chickie?

[Rajoo]

Biden turning to Venezuela for oil did put a major dent in Saudi plans. Now instead of of higher prices & profits, they are more concerned about revenues.

MBS or Maduro? They are both thugs but we do need their oil.