Biden says there's nothing he can do to bring down gas or food prices in the near term...

Rifler

HR Legend
Jan 26, 2011
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That's a bad idea. Instead they should investigate why the gas industry charges CA on average $0.30 more per gallon and do something about it. It's been going on for decades.

From a distribution standpoint California is isolated from US refinery capacity by it's west coast location and it's gasoline is a totally different product due to the state's environmental laws...
 

Flie

HR All-American
Nov 2, 2001
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Don't worry. The republicans have the solutions to all of our problems. Just you wait!

I mean, look at the amazing job they always do if you need some point of reference.
 

abby97

HR All-American
Sep 16, 2010
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Please explain the impact of the Keystone Pipeline.
Oil is a finite commodity and evidence that future oil supplies will be provided to the market, affects prices today. And it obviously affects prices in the future when the oil comes on line. On the flip side, if there is no evidence of future oil on the way, it adversely affects oil prices today. It really isn't that complicated if you open to thinking critically.
 
Mar 11, 2020
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Don't worry. The republicans have the solutions to all of our problems. Just you wait!

I mean, look at the amazing job they always do if you need some point of reference.
Repubs just announced their plan to ease requirements for more drilling in the US, helping with emissions as fuel doesn't need to be transported from around the globe, and exporting more liquid natural gas as what we produce burns cleaner and produces less emissions than LP refined in other countries.

They have a plan, let me know when the dems get done doing all the winning would ya?
 
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Flie

HR All-American
Nov 2, 2001
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Repubs just announced their plan to ease requirements for more drilling in the US, helping with emissions as fuel doesn't need to be transported from around the globe, and exporting more liquid natural gas as what we produce burns cleaner and produces less emissions than LP refined in other countries.

They have a plan, let me know when the dems get done doing all the winning would ya?

It takes time to clean up the mess that was left.
 
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onlyTheObvious

HR Heisman
Jan 3, 2021
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Stocks often move on idle talk and future plans.

oil is no different. I think prices would be a little lower if Biden was all in on using every ounce of domestic oil until electrics take over (which they will).
 

Finance85

HR Legend
Oct 22, 2003
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Joe Biden is right. There's little he can do in the near term. It would be a good start if he would rescind all those executive orders chilling new energy production, and direct the department of the Interior to stop creating roadblocks to energy producers,
 
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srams21

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May 23, 2004
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Maybe acknowledge it’s happening? Maybe not telling people that high gas prices is an “upper class issue”. Maybe go back to acting like you give a shot about the working class?

Most people just want their leaders to admit shit ain’t great and they’re working on it.

Biden is passing the buck on this as much as Trump ever did with anything. And he sucked bad for that.
Umm, that's literally what he did. He told the truth about the inflation issue unlike Trump about COVID.

He admitted inflation is an issue and outlined what things could be done and was honest about where a President's limiation is on this.
 
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Finance85

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Oct 22, 2003
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Umm, that's literally what he did. He told the truth about the inflation issue unlike Trump about COVID.

He admitted inflation is an issue and outlined what things could be done and was honest about where a President's limiation is on this.
One more thing I forgot. Biden can stop increasing federal spending, and doing stupid stuff like student loan forgiveness.
 

srams21

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One more thing I forgot. Biden can stop increasing federal spending, and doing stupid stuff like student loan forgiveness.
He hasn't done any student loan forgiveness yet.

And, can you name me the last President who decreased federal spending? I'll hang up and wait.
 

Finance85

HR Legend
Oct 22, 2003
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srams21

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Biden has forgiven student loans. This is a new round.

https://www.cnn.com/2022/03/27/politics/biden-student-loan-debt-17-billion/index.html

You are right, federal spending always goes up. To be precise, Biden should stop the insane rate of increase in federal spending.
They expanded student loan cancellation for some people screwed over by for profit colleges and already existing public service programs. But there hasn't been a full scale cancellation (I'm not arguing there should be either just for clarity).

And while I agree with your second sentence, I think it's worth pointing out how crazy Trump was with spending as well.

The national debt has risen by almost $7.8 trillion during Trump’s time in office. The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war.
 

The Tradition

HR King
Apr 23, 2002
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They expanded student loan cancellation for some people screwed over by for profit colleges and already existing public service programs. But there hasn't been a full scale cancellation (I'm not arguing there should be either just for clarity).

And while I agree with your second sentence, I think it's worth pointing out how crazy Trump was with spending as well.

The national debt has risen by almost $7.8 trillion during Trump’s time in office. The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war.

When does this become "Biden's Economy"?
 

BelemNole

HR Legend
Mar 29, 2002
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California’s high fuel prices are partly because of taxes as well as regulatory programs aimed at reducing greenhouse gas emissions. Together, they added about $1.27 to the cost of a gallon of gas last month, according to a calculation by the Western States Petroleum Association.

About 40 percent of that cost comes from the state’s gasoline tax. California taxes fuel at 51.1 cents per gallon, the second-highest amount in the nation after Pennsylvania, according to the Federation of Tax Administrators.

https://www.nytimes.com/2022/03/09/us/california-high-gas-prices.html
Right, I’m aware of that. But that doesn’t explain the extra above that we still pay.
 

BelemNole

HR Legend
Mar 29, 2002
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From a distribution standpoint California is isolated from US refinery capacity by it's west coast location and it's gasoline is a totally different product due to the state's environmental laws...
Again, accounted for.
 

srams21

HR Legend
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When does this become "Biden's Economy"?
It is. Where did I say it wasn't? Of course he's going to get judged on this. But there's also some common sense. You can admit there's not much he can do while not voting for him. He's going to be a one term President. Of that, I have no doubt. If I were a betting man, I would bet that Trump will be back in office in 2024. This country loves old white dudes.
 

Finance85

HR Legend
Oct 22, 2003
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They expanded student loan cancellation for some people screwed over by for profit colleges and already existing public service programs. But there hasn't been a full scale cancellation (I'm not arguing there should be either just for clarity).

And while I agree with your second sentence, I think it's worth pointing out how crazy Trump was with spending as well.

The national debt has risen by almost $7.8 trillion during Trump’s time in office. The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war.
Yes, Trump was reckless. He's no longer in office though. Biden is the one responsible for the massive increases in spending we are seeing now. There was no remarkable consumer inflation under Trump. There is under Biden.
 
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srams21

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Yes, Trump was reckless. He's no longer in office though. Biden is the one responsible for the massive increases in spending we are seeing now. There was no remarkable consumer inflation under Trump. There is under Biden.
I am aware of that. Most of this is due to COVID and not anything Biden or Trump directly did. The supply chain got so messed up and that signifcantly lowered supply while there was bent up demand (something Trump correctly said early in the pandemic.) Obviously all the stimulus didn't help but there still was going to be inflation due to pent up demand and the lack of supply to meet that.
 

Steamboat529529

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May 27, 2021
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Whether it really mattered, cancelling the Keystone Pipeline was extremely bad optics for Biden. Everyone will be hearing that leading up to November. I was hoping the Democrats would take advantage of having both the Senate and House along with Biden, but that ship has sailed. Just got to gear up for 2026 at this point.
 
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billanole

HR Legend
Mar 5, 2005
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Whether it really mattered, cancelling the Keystone Pipeline was extremely bad optics for Biden. Everyone will be hearing that leading up to November. I was hoping the Democrats would take advantage of having both the Senate and House along with Biden, but that ship has sailed. Just got to gear up for 2026 at this point.
Many don’t seem to understand the Keystone. Keystone has crude moving to market.
The extension of Keystone was cancelled. It would have moved dirty crude to port for export, not provided needed sweeter crude for refining into domestic gasoline supplies.
 

Steamboat529529

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May 27, 2021
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Many don’t seem to understand the Keystone. Keystone has crude moving to market.
The extension of Keystone was cancelled. It would have moved dirty crude to port for export, not provided needed sweeter crude for refining into domestic
Many don’t seem to understand the Keystone. Keystone has crude moving to market.
The extension of Keystone was cancelled. It would have moved dirty crude to port for export, not provided needed sweeter crude for refining into domestic gasoline supplies.
Exactly. It wouldn’t have mattered. But it’s bad optics. It’s too late now though. Republicans will take the house in 2022, Senate is a toss up. They will take the Senate in 2024 and probably the Presidency if anyone not named Trump runs. Damage has been done the past 18 months.
 

billanole

HR Legend
Mar 5, 2005
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Joe Biden is right. There's little he can do in the near term. It would be a good start if he would rescind all those executive orders chilling new energy production, and direct the department of the Interior to stop creating roadblocks to energy producers,
Which energy producers?
 

Finance85

HR Legend
Oct 22, 2003
17,322
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I am aware of that. Most of this is due to COVID and not anything Biden or Trump directly did. The supply chain got so messed up and that signifcantly lowered supply while there was bent up demand (something Trump correctly said early in the pandemic.) Obviously all the stimulus didn't help but there still was going to be inflation due to pent up demand and the lack of supply to meet that.
BS. We were already transitioning from Covid when Biden took office. Energy polices and additional spending are causing consumer inflation.
 

srams21

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May 23, 2004
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BS. We were already transitioning from Covid when Biden took office. Energy polices and additional spending are causing consumer inflation.
So the 2 stimulus packages Trump passed did nothing to increase inflation but only the Biden stimulus package did?

LOL. You are clueless on this finance. And I usually agree with many of your takes FTR
 
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Rifler

HR Legend
Jan 26, 2011
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So the 2 stimulus packages Trump passed did nothing to increase inflation but only the Biden stimulus package did?

Nope, by the time we got to the second Trump stimulus it was already a bad idea,.. Trump crossed the line, Biden super-sized it...
 
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