Economy

[ActualCornHusker]

29 minutes ago, BigRedBuster said:

Both.  However, there's a limit to that.  The pipeline was shut down over two years prior to it even being scheduled to be in service.  There might be a slight bump up in early 2021 when it was announced.  But, that gets washed down over time.  Aslo, like I said, much of that oil (if not all of it) is already reaching market through other transportation methods.  

 

Where shutting down the pipeline would cause an immediate and major price impact is if it was up and operating and all of a sudden shut down so that oil wasn't reaching market.  

 

Another thing.  Even if the oil wasn't reaching market now, and all of a sudden the pipeline was up and running, it is less than 1% of the world's consumption of oil.  That's not going to make a major impact on the price.

 

There are probably valid arguments for or against the pipeline. Reducing the price of oil world wide is not one of them.  But, It's the hot button talking point that pro pipeline people use to get the common voter all lathered up. 

Even without Keystone XL, U.S. set for record Canadian oil imports

 

 

The people who play in these markets aren't you and me type investors.  They know the market and are much less affected by emotional crap that is around the Keystone pipeline.

 

OK so let me ask this then: Is it your view that gas prices rising immediately once Biden & Co took office was just a delayed reaction from the Trump admin and Covid policies? Or was it something else, or some combination of both?

[BigRedBuster]

27 minutes ago, ActualCornHusker said:

 

OK so let me ask this then: Is it your view that gas prices rising immediately once Biden & Co took office was just a delayed reaction from the Trump admin and Covid policies? Or was it something else, or some combination of both?

Read the last post I made before this one.  

 

Look at the price chart.  The price of oil had tanked throughout 2020. Nobody was using oil and gas.  Nobody was traveling.  Everyone was working from home and not commuting.  Then, over the winter of 2021, the economy started opening back up.  People started traveling and driving again.  People started commuting again.

 

THEN....look at what happened to oil production through 2019 and 2020.  Demand surged in winter and spring of 2021.  But, the production wasn't there anymore.  And....like I've said, these companies have leases to drill on.  But, they aren't.  Oil production in the US has steadily increased since the bottom in the pandemic.  But, it hasn't kept up with demand.  To a certain extent, I think the oil companies love that fact and aren't in a big hurry to surge production.

Edit to add:  Click on this link for World Oil Production and go to the 5 year chart.  Because....it is a world market.

[ActualCornHusker]

1 hour ago, Dr. Strangelove said:

The IRS has been intentionally underfunded for decades. Attempts to increase the funding creates pushback from voters. If the public had a positive reception to proper funding of government agencies they'd get it. The public does not have a positive reception to government and therefore reward when goverment is set up to fail. 

 

 

There's not a single government agency in the US that's under-funded... That is so silly.

[BigRedBuster]

1 minute ago, ActualCornHusker said:

 

There's not a single government agency in the US that's under-funded... That is so silly.

The IRS is actually one of them when you look at congress refusing to upgrade their technology since before we landed on the moon.

[ActualCornHusker]

8 minutes ago, BigRedBuster said:

The IRS is actually one of them when you look at congress refusing to upgrade their technology since before we landed on the moon.

 

The IRS is vastly over-funded when you consider that their ideal funding would be $0.00

[BigRedBuster]

Here's an interesting industry news letter talking about supply and demand.

 

LINK

 

What I find most interesting are the bottom four charts.  It shows OPEC excess capacity over the 10 years, their inventories and world demand and production.

 

No US President controls OPEC.

[teachercd]

Google stock crashing harder than JB's approval rating. 

[BigRedBuster]

4 minutes ago, ActualCornHusker said:

 

The IRS is vastly over-funded when you consider that their ideal funding would be $0.00

OH......so you believe the government shouldn't collect ANY taxes.

 

OK.

 

I think we are seeing why they don't get funding to upgrade technology.

[BigRedBuster]

3 hours ago, Archy1221 said:

But none of that excuses the mistakes of 2021

What would a Republican done differently with the economy in 2021?

 

Or, are you saying Republicans may have made the same bad mistakes?

If so....what were those major mistakes that are in the President's control?

[RedDenver]

30 minutes ago, ActualCornHusker said:

 

The IRS is vastly over-funded when you consider that their ideal funding would be $0.00

I mean, ideally police funding would be $0.00. And the military, and schools, and roads, and harbors, etc. etc.

[ZRod]

2 hours ago, BigRedBuster said:

The checks aren't THE problem for all the inflation.  But, EVERYTHING around the pandemic is and you list some of those with the bolded.  However, to say the checks didn't add to it is naive.  

 

1 hour ago, Archy1221 said:

Which is what I said in my post.   Inflation was going to happen beyond the 2% goal no matter what becuae of the payments.   As I said in my post, other factors played a role in exacerbating the inflation. 

Do you guys really think an extra $80 dollars a week (all 3 checks over a 9 month period) was anything more than a drop in the ocean of inflation? Not everyone got the full checks or even all the checks either. Not to mention studies from the first round of checks, and the Bush checks in 2008 show that most people save them and don't spend them. I don't blame Trump or Biden issuing checks for any amount of inflation.

[BigRedBuster]

12 minutes ago, ZRod said:

 

Do you guys really think an extra $80 dollars a week (all 3 checks over a 9 month period) was anything more than a drop in the ocean of inflation? Not everyone got the full checks or even all the checks either. Not to mention studies from the first round of checks, and the Bush checks in 2008 show that most people save them and don't spend them. 

Yes….when you add in the billions of PPP loans to companies that didn’t need them. 

[teachercd]

Hopefully there is some Covid cash leftover in that G'ment bank account so that we can get new laptops!

[RedDenver]

Just now, BigRedBuster said:

Yes….when you add in the billions of PPP loans to companies that didn’t need them. 

Government has been giving out trillions since 2008. The latest rounds during covid were small in comparison. The supply shortages are MUCH bigger influences.

[BigRedBuster]

3 minutes ago, RedDenver said:

Government has been giving out trillions since 2008. The latest rounds during covid were small in comparison. The supply shortages are MUCH bigger influences.

I believe I said the Covid checks added to inflation where there were other major contributors.