Here is a new proposal that will likely increase the inflation rate.
https://www.axios.com/biden-interior...7c36b0b3d.html
Here is a new proposal that will likely increase the inflation rate.
https://www.axios.com/biden-interior...7c36b0b3d.html
That is not correct. O & G are commodities that are affected by market psychology as well as supply and demand and supply chain problems.
Every time Biden limits delivery and drilling or slaps on new or higher drilling costs, market psychology raises the price of O & G Simply by the perception of higher future prices. Its the same psychology that causes prices to go up just at the prospect of a significant hurricane in the Gulf of Mexico, just long-term.
This IS a valid long-term component on inflation since the cost of gasoline and diesel affect virtually everything in our economy.
That ship sailed in the 1970s and 80s when the Globalists decided to offshore basically all of the country's manufacturing and means of production to China and other countries that don't necessarily like us.
We're now at the mercy of third parties, which in normal times did not matter. But these aren't normal times.
So even though less than 10% of US production is on public onshore lands this will be a significant cause of inflation in the USA? Ok.
Now to get into specifics, what is GOP leadership proposing to curb inflation. My initial comment singled out those complaining and finger pointing which is clearly the opposition party.
Less time defending bigots and kooks and more time on policy is what House GQP leadership should be addressing. Problem is Kev Mc has no control over his caucus.
You are still ignoring other factors that determine the price of a commodity, specifically market psychology which l explained in post #53. I can also say that mere 10% of production could be greatly expanded if not for regulation, not to mention drillable land locked up by state and local regulation. So when trying to shoot down another's post, have a complete picture of the subject.
Your pointing at Republicans for this makes zero sense. Few, if any Republican's are trying to restrict drilling or slow oil production right now. This inflation is purely a Democrat issue.
https://www.americanfreepress.net/ht...ssive_oil.html
According to the st. Louis fed we are at 6.7% inflatiion as of the date of this post.
https://fred.stlouisfed.org/series/CPIAUCSL
Penn Wharton University of Pennsylvania
https://budgetmodel.wharton.upenn.ed...nflation-costs
Inflation is going to cost the average family an extra 3000 dollar over the next year. If you make 12 dollars an hour after taxes then you will need to work an additional 250 hours to maintain the same quality of life you recieved this year.
I grabbed a rotisserie chicken from Sprouts, they used to be $6.99. Now $7.99, I believe that is a 14% increase.
I posted this on another thread but it's more appropriate here.
Supply v. Demand wins out again. Economist admits he was wr...wr...wr...wrong.
https://www.mediaite.com/news/nyt-ec...on-transitory/
https://www.bloomberg.com/news/artic...2?srnd=premium
Highest inflation rate in 40 years.
Increasing spending on the military significantly adds to the problem. Even though we exited Afghanistan the on the book spending is going up over 7% next year. Keep in mind we are done in Afghanistan. The military "demand" takes raw materials out of the economy while not supplying goods in return. Ike was right.
https://www.macrotrends.net/countrie...defense-budget
You are correct. A more centralized/controlled economy leads to the misallocation of resources which leads to inflation, shortages, and a black market. We have discussed inflation and here is a link to shortages...
https://www.npr.org/2022/01/12/10724...helves-reasons
Buy your bacon before March.
https://www.cnn.com/2022/01/26/busin...inz/index.html
It appears that the winter wheat yield in Oklahoma was lower than expected.
https://www.agweb.com/news/crops/whe...supply-worries
This could effect prices in the market.
Not to make light of the drought affecting wheat in the plains, but the invasion of Ukraine and the sanctions that resulted will have a much bigger impact on world wheat prices.
What does conflict in Ukraine mean for U.S. wheat? | Successful Farming
https://www.agriculture.com/news/cro...fects-us-wheat
Much of the inflation was already at a four-decade high before the attack in late February. The war will certainly make the situation worst.
Here is an article describing which foods have aeen the most inflation. This can be useful for those who need to economize during these times.
https://www.cnn.com/2022/05/11/econo...ces/index.html
Yikes! I knew it was going to be bad, but not this bad. 12% average food inflation over the last year. More for eggs, meat, and butter obviously. Anyone want to guess how much worst it will get?
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