/biz/ - Business & Finance

>>50096082
Uhhh brandon bros...? You told me he was better than trump...

Trump lost

>>50096082
>>50096256
inflation is caused by the mismanagement of the federal reserve, a separate entity than the US government

>>50096082
Dude just don't starve lol, eat the wallpaper on your apartment it's literally that easy

>>50096287
>inflation is caused by the mismanagement of the federal reserve, a separate entity than the US government
The price of gasoline and oil is 40% of inflation. Biden's shitty policy caused that increase. And his administration kept screaming "there is no inflation you racist chud!" for an entire year instead of implementing protocols to bring the Covid economy in for a soft landing (as Trump would have done).

>>50096082
>The average cost of a summer cookout for 10 people is $69.68, which breaks down to less than $7 per person
>2 pounds of ground beef, 2 pounds of chicken, and 3 poundsof pork chops
>For 10 people
This feels like an extremely conservative amount of food to be measuring with, not to mention the lack of stuff like seafood, sausages and hot dogs.

>pic
>potato chips
do Americans really?

>>50096256
Yeah they lied.

>>50096082
I dunno, unchecked inflation has only preceded the ruin of entire civilizations.

>>50096082
>That's progress, folks.

>>50096654
Oh thank god, please please can america destroy itself already.

>>50096346
What Biden policy increased gas prices 40%?

>>50096798
1 hour ago.
https://www.msn.com/en-us/news/politics/biden-admin-misses-major-oil-lease-deadline-an-absolute-disgrace/ar-AAZ4RPp

>>50096850
What the fuck is his problem?

>>50096798

Get a load of this absolute retardation

>>50096850
yeah thats okay, i dont want any oil drilling and refining near my drinking water. I rather import than get cancer

>>50096798

>>50096873
You're his problem. He despises you.

>>50096531
>This feels like an extremely conservative amount of food to be measuring with
No fucking shit it is

>>50096082
I dunno.

>>50096082
>>50096907
Holy based move from Trump.

1) Turn the Fed printer to its maximum setting to help wagies in 2020
2) Leave office and leave the problem of inflation to Sleepy Joe
3) Run for president again and blame inflation on Sleepy Joe

>>50096286
>Thinks the two party system of mutt land isn't just puppets on a string.

>>50096798
Shutting down fracking for starters.

>>50096902
You must be retarded if you think offshore drilling in the ocean has anything to do with your drinking water

>>50096531
>>50096940
lose weight

>>50096902
Fuck this bait
I bet you think nuclear energy is dangerous too

>>50096082
I am impressed by how much Brandon has fucked everything.

>>50096908
I think you're right desu senpai.

>>50096256
Biden is not singlehandedly responsible for global inflation.

>>50096256
I'd rather pay 50% more for food to not have mean tweets

>>50096973
>>50096962
Historically, the oil refinery industry has been associated with groundwater pollution. Effluents from factories contain numerous hazardous toxic pollutants, which have mutagenic properties, leading to carcinogenic disease through groundwater

>>50096902
>Flint can't do fracking so no one else can.
It's amazing how safe fracking has gotten over the years and FLINT STILL DOESNT HAVE CLEAN WATER.
Lmao.
What a shithole.

>>50096986
Yea actually he is.

>>50096998
flint's problem isnt related the industrial waste produced by oil refining. they had lead pipes for their water and got lead poisoning

>>50096850
https://www.youtube.com/watch?v=T-PzCRhi0aY&ab_channel=Rep.KatiePorter

>>50097025
You shouldn't talk bad about retards even if he is the president.....

>>50097053
>says the whore with a toyota sienna that gets like 18 miles to the gallon behind her

>>50097119
basically the oil companies want all the of the US federal land for drilling, and they spend a lot of money lobbying to pay pennies on the acre for it. you should be mad at oil companies making record profits with their price hikes, not Biden for standing up to them.

>>50097165
Some companies like BP have doubled profits compared to the same quarter last year. Absolutely obscene price gouging going on, under the guise of "inflation"

>>50096986
>global inflation
It's not Putin's inflation anymore? What about transitory inflation? American inflation is down to him and his policies, you dumb cunt.

>>50096256
hey at least uh... uhhhhhhh well at least orange man is out

>>50097790
What else are they supposed to do? Rationing?

>>50098161
they basically never resumed drilling/rehired the layoffs from when they slowed down production during covid. they said they werent going to rehire because theyre making money this way with less overhead. its just basic capitalism.

>>50098161
do a basic amount of research

https://www.reuters.com/business/energy/more-oil-production-would-hurt-shareholders-occidental-ceo-says-2022-05-11/

>>50098281
>>50098323
Governments are constantly threatening to run them out of business.
Why would they make investment in such risky environment?

>>50098358
oh yeah big oil and OPEC are on the brink of bankruptcy, go suck a saudi dick

>>50096798
>What Biden policy increased gas prices 40%?

>>50098380
name one that would validate a 40% increase in prices

>>50096287
>the federal reserve, a separate entity than the US government
They are separate only on paper

>>50098418
the federal reserve answers to israel, not the US government

>>50096082
>Is inflation a problem?
No. Joe Biden and company are. FJB

>>50096950
Biden’s money printer goes brrr too retard

>>50098546
that money printing had a marginal effect on inflation, its most a supply and demand problem

>cooking out
>large gathering of maskless people
>during a pandemic
why was the White House encouraging people to do this? super spreader event

>>50096082
>Americans at an inflation-induced caloric deficit for two years and become the lowest obesity rate nation in the world.
Was this the goal all along?

>>50096256
>>50096649
>>50096993
>>50098015
>>50097025
>>50097876
Most of the money printed causing this hyperinflation was printed under Trump for the covid relief checks
>inb4 grrrr libshit reddit reeeeeee
I’m far right

>>50098557
Supply and demand? Biden is killing it lol.lmao

>>50098161
They should simply not be charging more for oil retard

>>50096798
It's not just Biden. The things here
>>50096907 while they matter aren't the only culprit. I'm not gonna pretend that there isn't any price gouging because there obviously is but this is basically the result of policy signaling, combined policy of the left over the last 10 years, and future policy decisions. Oil wells arent infinite, refining capacity isn't infinite, and costs of everything have gone up. Biden is essentially the green horseman of the apocalypse if you will. He has shown repeatedly that he isn't a friend of the oil industry. Well you have tons of investors trying to get what they can out of the system before it gets regulated into the fucking dirt so prices are going up. Everything on that chart matters. (the oil leases to me sounds like a nothing burger nobody wanted to buy it so no shit it got cancelled) we have built two large refineries in the US since the 70s and all under trump. It's very unlikely trump could have stopped oil from going up but because of all of these factors, Biden has essentially guaranteed prices are gonna go up. And these threats are totally fucking toothless too.
>lower prices or else we are gonna stop you from selling oil here
Oh no guess we can go sell our resources elsewhere during a huge price squeeze. And then we will just buy it at a premium from other countries anyways like we already are doing with Russian crude.

Frankly I would give Biden the benefit of the doubt because there's probably some good reason to transition to a green economy (inb4 reee climate change schizos). But he lost all credibility when he tried to pin the blame on the "Putin price hikes" or blame OPEC who is obviously close to their maximum capacity anyways. Russia is laughing all the way to the bank selling to countries not involved in the sanctions. When EU begs for natural gas and oil, I bet Russia will go "no".

In short -- this is the culmination of years of leftwing policy and signaling. Biden is just the catalyst

>>50098640
biden definitely sucks, but if gas prices arent controlled by biden, its OPEC

>>50098648

So they should just lose money on oil?
Just say you want to nationalize oil, it's OK.

>>50098670
>Biden is essentially the green horseman of the apocalypse
Idiot is more like it.

>>50098674
Biden’s energy policies prove otherwise

>>50096287
Whoever is in control of your life and everyone's around you is the de facto government.

>>50098393
fuck off retard

>>50098703
I'm just fucking impressed how completely out of touch this administration is with the real world.

>be me
>been redpilled since I was 18 (30 now)
>always knew this system wasn't sustainable in the long run
>therefore I NEET maxed
>mother is now bothering me about leaving the house
>tried to explain to her we're heading for a major economic crisis
>she's not buying it anymore because I've been saying this for the past decade

wat do

>>50098701
Their operating costs haven’t increased at all. They wouldn’t lost a cent. But yeah I’d nationalize oil if it also meant all kikes were extirpated from the country because such a vital resource cannot be trusted to greedy billionaires and multinational shareholders.

>>50098739
you don't actually fit in by parroting what you read on /pol/

>>50098723
name one

>>50096531
2 pounds of beef for 10 people? the fuck?

>>50097025
t. blue pilled fag who thinks he's red pilled

No single president is responsible for inflation because they have all been glorified puppets after JFK.

>>50098814

>>50098757
Being redpilled doesn't mean you should be a leech. Get a job.

>>50098814
you've ignored several already posted >>50096907
no thinking person believes pedo joe's policies haven't driven up the cost of gas

>>50098852
no, these policies haven't increased global gas prices. releasing oil from the reserve increased gas prices? lol. do you know how many acres of land shell has already leased from the US government and not drilled anything?

>>50098751
Yeah it’s good to give Ukraine 44 billion dollars to try and cover up his “son’s dealings” and billions more for the Paris unicorn summit etc etc but what has this nigger done for this country? The cost was down $0.34 for your July 4th last year so I guess there’s that.

>>50098875
That's exactly what it means. Why would someone redpilled contribute to a corrupt and dying system?

>>50098892
>n-n-nuh uh t-that doesn't count!!!

>>50098925
no, those are just lies theres a difference. How much money have oil companies made this year vs 4 years ago

>>50098892
>leased from the US government and not drilled anything?
Because there’s no oil there and everyone knows it.

>>50098948
but they havent even looked yet, what the fuck are you talking about

>"we hate you and want you and your industry dead"
>ok
>"you will be dead in 10 years"
>thanks for the heads up bro
>"please expand your operations we need more oil"
>no ty
>"PLEASE WE CUT OUR OWN OIL SUPPLY TO OWN THE HECKING PUTLERINO THINK ABOUT THE UKRAINERINOOS NOOOOOOOO"

Why are dems like this?

>>50098910
Ok, then be a leech and wait till your mom dies. Will you be happy then?

>>50098938
According to that macron audio, the saudis can only increase production by less than 1% of american consumption and they are maxed out.

>>50098852
So what's your excuse for this faggot?

>>50098969
Everyone but you I suppose.

>>50098985
it failed in the house

>>50098985
Are you arguing in favor of price fixing? Are you retarded? If people can't make money from it below those fixed levels then they just have to shut down. Like are you genuinely retarded?

>>50098892
>do you know how many acres of land shell has already leased from the US government and not drilled anything?
do you? how much profitable to drill for oil is shell currently sitting on?

>>50098973
Don't worry, I am leaching off the government, not my mom.

Also I don't think I'll ever be happy my dude. Being a wagie won't change that.

>>50098985
That’s a retarded vote for independent retailers

>>50098985
So inflation was just price gouging all along

>>50098938
They also aren't investing in production and refinement because cars aren't going to be using gas in the future they're all going to be electric. Why wouldn't they be making more money since they don't need more gas refineries.

>>50099002
>>50099013
Notice how these dumb fucking cucks immediately rush to the defense of jewish oil execs because their NPC programming has them wired to defend any bullshit republicucks do.
>muh price fixing
>b-b-but they have to shut down
Not an excuse faggot. Price gouging means they are charging a retarded markup. This affects at-pump prices. They will still profit. Look up the definition of price gouging you fuckin inbreds.
tl;dr kys you dumb cucks

>>50099086
But there isn't any fucking price gouging. There isn't any production.

You
are
fucking
stupid.

>>50096986
People in power always get blamed. The White House attempting to blame others is a sign, they know they must shift blame elsewhere. People can say "Putin price hike" but that won't matter to the entire population.

>>50099057
>going to be electric.
60% of electricity is generated by fossil fuels. Power grid can barely keep up as it is and retards think “just throw in 200 million electric vehicles in the mix. Duh

>>50099103
>there isn’t any production
Recorded production is higher today than when trump left office. Operating costs for oil companies hasn’t gone up since trump left office. Prices of gas have doubled though.

>>50099115
>60% of electricity is generated by fossil fuels.
Something like <3% of american electricity is powered by oil. By fossil fuels you mean coal. You don't know what you're talking about.

>>50096082
Lol, that original image is so pathetic. This administration is a fucking joke.

>>50098842
Yeah totally a coincidence that gas is 2.5x more expensive exactly one year into the cocksucker’s presidency.

>>50099086
>Price gouging
There is no price gouging of oil.

>>50099106
>People in power always get blamed
Because their policies are retarded

>>50099129
>Recorded production is higher today than when trump left office.
I should hope so, since he left during the middle of the pandemic.

Production hasn't reached pre-pandemic levels, and it may never again, ever. BP said we hit peak oil pre pandemic.

>>50099132
Google is your friend dimwit

>>50098985
Because that’s how you get shortages you stupid economic illiterate

>>50099103
>>50099146
So if there's no price gouging why is introducing a bill to prevent it from happening in the future a bad thing you absolute fucking mongoloids? Holy shit I can't believe the state of you NPCs sometimes. Just regurgitate whatever bullshit you're programmed to.

>>50099172
.5% petroleum
wow proved me wrong

>>50099190
Yeah shortages, faggot. Did you forget they were giving out gas for free during peak COVID in 2020? lmao

>>50099200
Dude you need a serious reality check. Dems are trying to shift the blame off of their retarded policies.

>So if there's no price gouging why is introducing a bill to prevent it from happening in the future
Price fixing ruins nations. Read a book. Any book. Please, you're just embarrassing yourself.

>>50099165
Holy shit this giga cope
>there isn’t any production
>ok there is and it’s higher than when gas cost $2 a gallon but that STILL doesn’t mean oil kikes are gouging the price
Christ I hate neocons and lolspergs like you wouldn’t believe. These multinationals are not your friend. They don’t care about you. They will happily fuck you over if they think it’s possible to make a quick buck.

>>50099237
What’s your point? At least I know their motivation is profit. Are you saying the government is my friend? Government’s motivation is power.

>>50096531
thats 0.7 lbs of meat per person, plus everything else on the list. if anyone is disappointed about that amount of food in one sitting, then theyre fat as fuck and a food shortage would do them a lot of good.

>>50099207
Jesus you’re stupid

>>50096082
That's bullshit unless it's per person

>>50099237
Follow the conversation.

>Recorded production is higher today than when trump left office
Yes, duh but it isn't high enough.

Give me any evidence whatsoever that this is price gouging in any capacity. The saudis right now literally can't pump out enough oil to meet europe's needs. Macron was complaining to biden about it the other day. They at most can increase production by something like 100,000-150,000 barrels a day, which is the equivalent of 1% of US demand a day.

No one can pump more oil right now. There is literally not enough of it, and there is very little economic incentive to increase production of gasoline either when gas demand is going to decline significantly in the future, and covid demand of negative oil prices caused shutdowns in places that will absolutely never open up again (essentially liquidation).

The ramp up in oil production is going to happen extremely extremely slowly because it got gut punched by covid policies and it may actually never recover in our lifetimes, unironically. Have you been living under a rock? Seriously.

>>50099265
No “government” doesn’t have a single motivation like business does. Fascist government is your friend. Neoliberal government is not. But thanks for simply conceding everything to me faggot lolsperg. They’re price gouging and need to be regulated into submission for the well being of the working and middle classes who produce actual value with their essential labor.
>>50099329
Cope

>>50099225
>Dude you need a serious reality check.
Says the cuck that's doing everything he can to rush to the defense of a bunch of oil execs because he noticed his republicuck lords commanded him to. lmao
>Price fixing ruins nations
So does price gouging you fucking braindead retard.
But hey I guess Biden will just release billions of dollars in stimulus checks instead, right faggot? Let the rich oil cunts keep their gouging practices and constantly increasing profits and instead ruin the economy with further inflation. Like how fucking stupid are you?

>>50099286
<1% it's even less than I estimated at 3%. Electricity means nothing to oil.

>>50099350
>So does price gouging you fucking braindead retard.
Example? If a competitor can offer a product for less they are free to do it and people will happily buy it, especially when products are essentially identical (oil is literally traded as a commodity it's literally fungible).

>>50096082
yes, are you ready for the fallout of the Cantillon effect?
>>50096287
retarded gorilla nigger subhuman

>>50099350
>Says the cuck that's doing everything he can to rush to the defense of a bunch of oil execs because he noticed his republicuck lords commanded him to. lmao
You want to ruin this nation with price fixing which is straight out of the WEF guidebook, like holy shit you are a grade-a goy indoctrinated to only punch up.

>>50099392
How is electricity generated?

>>50099446
Through anger

>>50099392
You do know what “fossil fuels“ are right?

>>50096986
He’s responsible for high oil prices. He shouldn’t have killed the Keystone Pipeline and threatened to exterminate oil companies. Rhetoric matters when it’s coming from Congress or the President, and Biden’s only added fuel to the fire trying to punish oil companies instead of working with them to improve the situation

>>50096082
6uild
6ack
6etter
>let’s go Brandon
Tear it all down and make us all starve and kill each other. You won’t do it you fucking faggots. Cuz you know that you’re next

>>50098985
Price gouging is already illegal, nigger tier retard. That piece of shit was just a faggot progressive wishlist. Did you read the bill? Of course you didn't. You just parrot the TV like an ape.

>>50096635
>potato chips is LE BAD because...... IT JUST IS OK?!?!

>>50099468
Fossil fuels = Natural gas, coal, petroleum.
65% of US electricity production is generated from Fossil Fuels.

>>50098739
Literally everyone on 4chan operates their thinking based on your crude picture. You thought that was a gotcha moment too huh

>>50099542
And? Coal is not oil. Natural gas is not oil. People are complaining about gasoline prices.

You can't just choose whether to make crude oil into gas or any other kind of oil based fuel it's all or nothing via fractional distillation. If there is high demand for gasoline but low demand for jet fuel, propane, etc, then you're stuck just producing at the levels to create the necessary amount of jet fuel to stay profitable, and gas prices go up.

>>50098670
The issue isn't that gas prices have gone up, it's that we didn't use the spoils from our own drilling (specifically, the fracking boom) to move ourselves off of fossil fuels as quickly as possible once Obama won office. It's a basic tenet of drug dealing, don't dip into your own product. We spent so much blood and gold on securing the petrodollar and didn't learn a single lesson about what it means to be beholden to it, and it's embarrassing. Even the Saudis have been better about not falling prey to the resource trap of their oil wealth.

You're very close but ultimately wrong. The issue isn't left-wing policy, it's liberal kowtowing to centrist/right-wing policy. Leftists have been warning about oil dependence for decades. Just because politicians have found ways to plug the holes they predicted would form doesn't eliminate the basic truth, which is that humanity - and certainly its leading nation - must end widespread dependence on fossil fuels to the best of our ability.

>>50099418
>If a competitor can offer a product for less they are free to do it
How does that apply to national infrastructure and monopolies?
Seems to be going great for ISPs and net neutrality! hahaha fucking moron.
Any bloke can just go extract oil and compete with the free market, right idiot?
>>50099445
To summarize, you cucks would rather:
- defend the pockets of jewish oil execs who are gouging your dumb ass for record profits
- have your government print a shitload of new money and send it out in stimulus checks, which surely has no bad effect on the economy
Absolute fucking morons. No wonder you dipshits get grifted by scam artists every day of your lives.

>>50099521
>Did you read the bill?
>t. cuck faggot that never read the bill and spends every waking moment of his miserable NPC life defending the oligarchs that control his pathetic slave ass
kys

>>50099656
>You can't just choose whether to make crude oil into gas or any other kind of oil based fuel it's all or nothing via fractional distillation.
lol, no, cracking is a thing
https://www.sciencedirect.com/topics/agricultural-and-biological-sciences/catalytic-cracking
it's possible to turn the heavier products, into lighter ones
and yes: oil and natural gas both come from drilling oil. acting like "drilling doesn't affect electric" by "well we don't burn oil for electricity" sidesteps the entire point of WE BURN GAS FOR ELECTRIC, AND GAS COMES FROM DRILLING

>>50099655
>it's that we didn't use the spoils from our own drilling (specifically, the fracking boom) to move ourselves off of fossil fuels as quickly as possible once Obama won office.
How would this have even been possible? The solar tech wasn't there, the battery tech wasn't there, unless you're talking having put it all into nuclear but everyone was and still is terrified of nuclear, especially old politicians.

Imagine kneecapping america even harder trying to go green when it wasn't even technologically possible and doing that right during the great recession as well. America would have gone sri lanka tier.

>>50099349
I’m a national socialist, retard.

>>50099796
>lol, no, cracking is a thing
$$$$$

>>50099765
Answer the question, Anderson Cooper.

>>50099840
>>50099796
https://www.businessinsider.com/why-gas-prices-so-high-crude-oil-market-crack-spreads-2022-5

>>50099765
funny thing is you think you are any better than the average knuckle dragging american.
lmao americans are born slaves

>>50099349
>gets BTFO
>replies with "cope"
lol
lmao even

>>50099853
If price gouging is illegal then why vote against it dipshit? Why do you spend all your energy to defend oil companies like an NPC cuck?
>>50099880
Not an amerishart.

>>50097025

>>50099656
Idk why you keep harping on petroleum when I said from the beginning that electricity generated in the US is 60-65% fossil fuels but you do (you)

>>50099917
This discussion has been about gas prices not fucking coal and natural gas. Get a grip dude. No one is listening to you anymore.

>>50096973
If it was that bad why did you reply to it anon? You'll never be honest but at least running circles around you NPC cucks who forget what you're doing with your life should teach you a thing or two

>>50099946
Your reading comprehension sucks

>>50099655
While you have a point, my problem I'm with that is that there's an infinite loop you could go back to in the long term. It's like complaining about roe v wade being overturned by Republican judges. There's plenty of blame to be had on democrars falling to put anything up in a meaningful capacity, but there's an element of "here and now" and I'm not willing to give any Democrat the benefit of the doubt for the oil dependency when they're too busy trying to regulate out oil rather than incentivizing other options to do it themselves. The energy narrative 10+ years ago was "we need to get off oil and become independent" which is a notable cause. Something seems to have flipped in their brains in the last 4 years though from this to "we need to kill oil by any means necessary" and have gone a step further to France shuttering nuclear power plants to meet global initiative goals by retards so attached to solar and wind that it makes seem really fucking sketch.

Overall, we as Americans have all made our bed and lie in it due to our lack of foresight, but there's nothing that can convince me that the current administration isn't the catalyst who ignited this and accelerated it. But we're doing better than the PEE-U so could be worse I guess at least we have the resources to deal with it. I don't believe crude is really a problem, it's all about refining

BIDEN IS A DISASTER DUDE
ALL DEMS ARE RATS BROTHER
-HH

>>50096256
we most certainly did not
go back

>>50099284
What's it like, being anorexic?