Gas Prices Skyrocketing Thanks Biden!

[over9five]

I'm quite sure those oil companies ARE greedy.
I'm also sure the reason theyre making those huge profits NOW is because they know we have a senile old man running the country who will do nothing about it.

 

[Up In Smoke]

I'm quite sure those oil companies ARE greedy.
I'm also sure the reason theyre making those huge profits NOW is because they know we have a senile old man running the country who will do nothing about it.

So as President, he has the power to aid a publicly traded company(s) to record profits. If so, why wouldn't the entire stock market be up 500%?

 

[over9five]

So as President, he has the power to aid a publicly traded company(s) to record profits. If so, why wouldn't the entire stock market be up 500%?

Did I say that?
I think a certain past president would use the bully pulpit to maybe curb that oil company greed a bit.

 

[Wally]

Shutting down pipelines has conquesenses.

 

[Up In Smoke]

Shutting down pipelines has conquesenses.

It sure would if the pipelines were within a decade of being operational. Does a President get credit for lumber prices being down 75%, the dollar being up 25%, regulation of Chinese companies in our market that has caused big loses for them and some to delist, global minimum tax rate which has repatriated currency. Hell no, Presidents are mouthpieces for their bases.

 

[Up In Smoke]

Did I say that?
I think a certain past president would use the bully pulpit to maybe curb that oil company greed a bit.

But why, it's not the government's place to pick winners and losers. Past Presidents have asked for greater subsides to make up revenue loses when oil companies needed to restrict production and raise prices. Is it better to spend less on subsides and pass the cost to the consumer or for the government to add to the national debt to keep costs contained. Pay cash today or put it on the card. We can't continue to support our economy with future tax dollars.

 

[floridays]

It sure would if the pipelines were within a decade of being operational. Does a President get credit for lumber prices being down 75%, the dollar being up 25%, regulation of Chinese companies in our market that has caused big loses for them and some to delist, global minimum tax rate which has repatriated currency. Hell no, Presidents are mouthpieces for their bases.

Are energy prices determined by the futures market?
If the answer is yes, please explain how Biden's energy policy is dictating the direction.

If the answer is no, please explain exactly what is directing the trend.

If your answer is greed, please explain fully.

You seem to have all the answers concerning finance and market movement, it's the precise reason I'm asking you.

It's just a few questions looking for an answer.

 

[Up In Smoke]

Are energy prices determined by the futures market?
If the answer is yes, please explain how Biden's energy policy is dictating the direction.

If the answer is no, please explain exactly what is directing the trend.

If your answer is greed, please explain fully.

You seem to have all the answers concerning finance and market movement, it's the precise reason I'm asking you.

It's just a few questions looking for an answer.

Energy, like all commodities have their value determined through the open market. Physical oil, natural gas, coal, nickel, gold, copper, lumber and on and on. The President's policies to withhold subsides on US oil and gas production has certainly caused the industry to increase prices to deliver profits for the shareholder. I guess what I'm saying is, we could have cheaper energy by subsidizing the industry, but that just drives the National debt deeper in the red. We could just subsidize every family ten thousand dollars a year to offset inflation, but that just pushes us that much closer to socialism. If you believe capitalism is the answer, then we need to go through some pain to come out stronger.

 

[UnionStrong]

Energy, like all commodities have their value determined through the open market. Physical oil, natural gas, coal, nickel, gold, copper, lumber and on and on. The President's policies to withhold subsides on US oil and gas production has certainly caused the industry to increase prices to deliver profits for the shareholder. I guess what I'm saying is, we could have cheaper energy by subsidizing the industry, but that just drives the National debt deeper in the red. We could just subsidize every family ten thousand dollars a year to offset inflation, but that just pushes us that much closer to socialism. If you believe capitalism is the answer, then we need to go through some pain to come out stronger.

Or we could pump more

 

[vantexan]

Energy, like all commodities have their value determined through the open market. Physical oil, natural gas, coal, nickel, gold, copper, lumber and on and on. The President's policies to withhold subsides on US oil and gas production has certainly caused the industry to increase prices to deliver profits for the shareholder. I guess what I'm saying is, we could have cheaper energy by subsidizing the industry, but that just drives the National debt deeper in the red. We could just subsidize every family ten thousand dollars a year to offset inflation, but that just pushes us that much closer to socialism. If you believe capitalism is the answer, then we need to go through some pain to come out stronger.

Well that's a neat trick...end subsidies to not increase national debt but still manage to come up with $4 trillion more in new spending. Ingenious!

 

[Up In Smoke]

Or we could pump more

Why would a company produce more and drive down their profits? This is Capitalism at work.

 

[Up In Smoke]

Well that's a neat trick...end subsidies to not increase national debt but still manage to come up with $4 trillion more in new spending. Ingenious!

Federal spending was down 300B from 2020 to 2021 and 1.4T from 2021 to today. It's still deficit spending, just at a lesser degree. Less bad?

 

[vantexan]

Federal spending was down 300B from 2020 to 2021 and 1.4T from 2021 to today. It's still deficit spending, just at a lesser degree. Less bad?

Not everything passed has been spent yet. But there has been $4 trillion+ in new spending passed or proposed. A judge just put a stay on the student loan debt relief proposal of Biden's.

 

[vantexan]

Why would a company produce more and drive down their profits? This is Capitalism at work.

They could replace oil brought in from Venezuela or the Mideast. Part of the reason for higher prices is importing oil is more expensive. Domestic suppliers can make up the difference in lower prices with volume. Of course that would mean Biden reversing his restrictions on drilling and fracking.

 

[UnionStrong]

Why would a company produce more and drive down their profits? This is Capitalism at work.

I thought it was idiot democrats at work

 

[Up In Smoke]

Not everything passed has been spent yet. But there has been $4 trillion+ in new spending passed or proposed. A judge just put a stay on the student loan debt relief proposal of Biden's.

The 5.5T dollar tax cut in 2018 still has 6 years until it's maturity date. Because the dollars were used to buy back stocks and give shareholders bonuses, the GDP growth and job creation were never realized. The final price tag will most likely be 1.5 to 2 times bigger than first advertised.

 

[vantexan]

The 5.5T dollar tax cut in 2018 still has 6 years until it's maturity date. Because the dollars were used to buy back stocks and give shareholders bonuses, the GDP growth and job creation were never realized. The final price tag will most likely be 1.5 to 2 times bigger than first advertised.

Job creation never realized? We dropped to 3.5% unemployment under Trump including record unemployment for minorities and women. There was plenty of investment by corporations and annual government revenue increased by $600 billion. Unemployment is low now because people returned to work, not because of job creation. And the investment profit you've enjoyed is directly due to the business climate greatly improving under Trump.

 

[UnionStrong]

Job creation never realized? We dropped to 3.5% unemployment under Trump including record unemployment for minorities and women. There was plenty of investment by corporations and annual government revenue increased by $600 billion. Unemployment is low now because people returned to work, not because of job investment. And the investment profit you've enjoyed is directly due to the business climate greatly improving under Trump.

 

[Up In Smoke]

Revenues went from 3.32T in '17 to 3.33 in '18, 3.46 in '19. Not even 600B combined over 3 years. Unemployment went from 4.1% to 3.6% over the same time period. The investment profits were clearly from the near zero % interest rates, government investments in securities and government spending. We see what happens to the market once the safety blanket is pulled away. If the Fed reversed course with rates and QE, the markets would take off again.

 

[vantexan]

Revenues went from 3.32T in '17 to 3.33 in '18, 3.46 in '19. Not even 600B combined over 3 years. Unemployment went from 4.1% to 3.6% over the same time period. The investment profits were clearly from the near zero % interest rates, government investments in securities and government spending. We see what happens to the market once the safety blanket is pulled away. If the Fed reversed course with rates and QE, the markets would take off again.

Mea culpa, it wasn't an annual increase but projected $570 billion more in revenue between 2018-2027 according to the CBO. They had originally projected a revenue shortfall of $1.5 trillion in that period but are now saying the tax cuts were successful. By the way Nancy Pelosi said in 2017 that the tax cuts were a $2 trillion scam.

If the Fed resumed QE we'd have hyperinflation. You're just going to have to settle for less stock profits while they try to correct the government's many mistakes.