US Oil Producers Fail to Produce

[Seran]

I wouldn't be carrying water for someone who openly admits they think that government spending isn't a cause of inflation.

"I'm sick of this stuff! American people think inflation is government spending more money. Simply not true!" - Biden, 3/11/2022, Democratic Conference, Philadelphia.

Little to No Effect on Inflation


Across the board, we found almost no effect of government spending on inflation. For example, in our benchmark specification, we found that a 10 percent increase in government spending led to an 8 basis point decline in inflation. Moreover, the effect is not statistically different from zero.


Does our finding, by itself, imply that countercyclical government spending is ineffective at boosting output? Not necessarily. Our paper simply demonstrates that the inflation channel of government spending is not an empirically important way that this spending might affect the economy.

https://www.stlouisfed.org/on-the-ec...tion#authorbox

[~Rocktar~]

HAHAHAHAHAHAHAHA

You actually think that the government increasing the money supply by like 40% since Biden took office isn't the cause of inflation? That is some serious retardation there. By definition, the increase in the money supply IS inflation.

Moron.

[Methais]

https://www.stlouisfed.org/on-the-ec...tion#authorbox

[Seran]

Add Newsweek to the list of major publishers and news sources who are printing the truth of Big Oil profiteering at the cost of everyday Americans and calling on the Whitehouse and Congress to do something to stop their monopolistic and anticompetitive practices.

Congress and the White House Can Provide Relief from High Oil and Drug Prices

Meanwhile, there's lots of evidence that corporate greed and monopoly power are major contributors to the problem. Corporate profits are growing faster than inflation; companies are acknowledging that they are raising prices because they can, not because costs are going up; and workers' wages are not keeping up with inflation. These are problems that can be addressed, in part, by tough anti-monopoly policies and more worker unionization—but even if we get those things, they may take years to have full impact.

Big Oil is socking us every day at the gas pump, and as a direct result, they are reporting record profits. Not counting one-time charges related to losses in Russia, in the first quarter of 2022, BP reported $6.2 billion in profit; ExxonMobil chimed in with $8.8 billion; Shell set a record with $9.1 billion in profits; and Chevron clocked in with profits of $6.3 billion. Those astronomical sums are just from the first three months of 2022!

There's no secret as to why their profits are soaring: Big Oil has fixed costs of production while the market price of oil is skyrocketing, thanks to Russia's invasion of Ukraine and other reasons. This is a classic situation of windfall profits.

https://www.newsweek.com/congress-wh...pinion-1707914

Enough is enough of Republicans shielding corporations and enabling thrm to exploit the market, to use anticompetitive practices to control supply. Our nation is waking up to the fact Trump and Big Oil, along with Russia and OPEC colluded to pull millions and millions of barrels of oil per day off the market to rise prices.

[Methais]

Add Newsweek to the list of major publishers and news sources who are printing the truth of Big Oil profiteering at the cost of everyday Americans and calling on the Whitehouse and Congress to do something to stop their monopolistic and anticompetitive practices.




https://www.newsweek.com/congress-wh...pinion-1707914

Enough is enough of Republicans shielding corporations and enabling thrm to exploit the market, to use anticompetitive practices to control supply. Our nation is waking up to the fact Trump and Big Oil, along with Russia and OPEC colluded to pull millions and millions of barrels of oil per day off the market to rise prices.

"None of this is Biden's fault guys. Literally none omg!" -Seranus

[Parkbandit]

Add Newsweek to the list of major publishers and news sources who are printing the truth of Big Oil profiteering at the cost of everyday Americans and calling on the Whitehouse and Congress to do something to stop their monopolistic and anticompetitive practices.

https://www.newsweek.com/congress-wh...pinion-1707914

Enough is enough of Republicans shielding corporations and enabling thrm to exploit the market, to use anticompetitive practices to control supply. Our nation is waking up to the fact Trump and Big Oil, along with Russia and OPEC colluded to pull millions and millions of barrels of oil per day off the market to rise prices.

FUCK BIG OIL AND THEIR OUT OF CONTROL PRICE HIKES ON PALM OIL!!!!!!!!!

Spoiler: The price of oil was half of what it is today when Trump left... but in Seran's "mind", it's still Trump's fault!

[Seran]

Imagine the idiocy of the Conservashits who think President negotiating with Big Oil through the American Petroleum Institution to take 6 million barrels of oil per day off the market isn't material to price increases. Gotta shake your head because the price of oil started going up dramatically after Trump did this. Big Oil of course has no interest in restoring the cuts and have said so publicly.

[Gelston]

Imagine the idiocy of the Conservashits who think President negotiating with Big Oil through the American Petroleum Institution to take 6 million barrels of oil per day off the market isn't material to price increases. Gotta shake your head because the price of oil started going up dramatically after Trump did this. Big Oil of course has no interest in restoring the cuts and have said so publicly.

What does abstinence mean and how are Republicans trying to block it?

[Methais]

Imagine the idiocy of the Conservashits who think President negotiating with Big Oil through the American Petroleum Institution to take 6 million barrels of oil per day off the market isn't material to price increases. Gotta shake your head because the price of oil started going up dramatically after Trump did this. Big Oil of course has no interest in restoring the cuts and have said so publicly.

What does abstinence mean and how are Republicans trying to block it?

Yeah Seran, what does abstinence mean and how are Republicans trying to block it like you said they were doing?

So weird how you keep going out of your way to dodge this question, despite it being a claim you made yourself.

[Parkbandit]

Imagine the idiocy of the Conservashits who think President negotiating with Big Oil through the American Petroleum Institution to take 6 million barrels of oil per day off the market isn't material to price increases. Gotta shake your head because the price of oil started going up dramatically after Trump did this. Big Oil of course has no interest in restoring the cuts and have said so publicly.

Imagine the idiocy of Seran who thinks that all oils are part of "Big Oil" even though they aren't.

I guess if there wasn't an Internet or an ability to actually look up things.. you might be able to craft your fairy tale anyway you want.

Unfortunately, that data exists that confirms the one truth on this forum: You are the biggest retard.

https://www.eia.gov/dnav/pet/hist/Le...PET&s=RWTC&f=M

Take a look at 2018, 2019, 2020... it doesn't start "going up dramatically" until 2021.. when Biden was in office.

I don't expect you to understand any of this... because numbers and words confuse you so much... but just so normal people know you are full of shit.