SamSpade
Well-Known Member
REALLY can't see it is NOT true, of Biden, whose administration has openly declared an end to fossil fuels in their climate change agenda.
Bidenomics
- Thread starter GURPS
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HemiHauler
Well-Known Member
You mean the break-even point? I’ve seen some firms with a break-even point of $30/bbl but those are outliers statistically speaking. They will continue to improve but for now, a robust domestic extraction industry = higher retail prices at the pump.
Pick one side or the other. Both can’t be true, at least for a while.
HemiHauler
Well-Known Member
Sure. He needs to raise money and appeal to a voting block. Will have little effect on reality though.
HemiHauler
Well-Known Member
The willfully ignorant checking in.
Quick! Go to your handlers to find a chit “article” to refute!
SamSpade
Well-Known Member
I've seen 30, also. Since it appears to be, as you say, an outlier, yeah, not paying it much mind.
But 50 is significantly lower than the 80 I can recall a few years back. 50 bucks puts fracking square in the range of absolutely doable, below the current Saudi level and WAY below Russia's current breakeven.
Clem72
Well-Known Member
50 was the magic number BEFORE infrastructure was in place. It should be lower now.
SamSpade
Well-Known Member
See, and I think that is such fantastic news, we should be fracking like a mutha by now. This puts us square at the top of the oil world.
Or near it.
HemiHauler
Well-Known Member
50 is more or less the current break even point. There are still efficiencies to be gained, economies of scale.
But none of this matters. Pretty sure we still are net exporters of crude & refined products. We are and will always be net importers of cheaper crude. Some of that is exported as more valuable refined products. Sometimes the scale of each can vary.
That is the way we want it. THIS is what energy independence is.
I’m not sure what else you’re hoping for here?
Economic Angst in the Heartland
Moreover, a sector analysis of this latest jobs report shows that 70% of the jobs were in either healthcare or government positions. More productive private sector jobs continue to lag, with manufacturing payrolls still flat in 2023.
In addition, even modestly positive economic data points cannot compensate for the harm inflicted upon workers for most of Biden’s tenure. Specifically, real wages – incomes adjusted for inflation – declined for a record 24 straight months, and recent small recoveries in real wages cannot come close to making workers whole.
The reality, as revealed by the data, proves that workers have toiled harder to get poorer under Biden, in real world terms – and they know it.
My organization, the League of American Workers, has commissioned a series of battleground state polls conducted by North Star Opinion Research. The most recent survey of Wisconsin canvassed an evenly split sampling of Biden and Trump 2020 voters in that Heartland swing state.
The crisis of confidence pervades the upper Midwest, where only 22% of Wisconsin likely voters think America is on the right track, and the clear main culprit for the despondency is the economy.
The economy remains the primary concern of battleground voters, regardless of partisan affiliation. For example, approval of Biden on the economy shows the president badly underwater, with only 17% strong approval vs. a whopping 47% strong disapproval. But among the independent Midwest voters we sampled, the results are just about as dismal, with a mere 19% strong approval for Biden on the economy among non-partisans. Even among self-described liberals, 23% disapprove of Biden on the economy.
Despite this widespread dissatisfaction, the president and his team insist on promoting the term “Bidenomics” to defend their radical agenda. Despite those efforts by the Democrats and a complicit legacy media, 37% of Wisconsin voters have not even heard the term. Among those who have, just 9% of voters in the state have a very favorable view of the phrase.
Reflecting the stressed budgets of parents grappling to deal with high inflation, only 5% of parents in Wisconsin with school-age children have a very favorable view of Bidenomics, vs. 40% with a very unfavorable view.
Swing state voters consistently blame the administration for this stifling inflation. On energy, for example, only 5% of Wisconsin citizens believe Biden’s agenda has lowered gasoline prices, while 51% blame his policies for raising prices at the pump.
Biden boasting about the economy makes him appear 'out of touch' with mainstream America: Economist
"All good. Take a look. Start reporting it the right way," Biden replied.
Biden has repeatedly been critical of the press, which he accuses of focusing more on negative news than positive things that come from his administration.
FreedomWorks Chief Economist Steve Moore told Fox News Chief Washington Correspondent Mike Emanuel on Tuesday that Biden's public comments hyping up economic conditions make him appear "out of touch" with the average American.
"Americans are feeling financial stress. If you look at what's happened to Americans' incomes after inflation—the average American family has lost about $2,000 dollars in purchasing power and they're feeling it," he said while sitting down for an interview on "America's Newsroom."
Moore also surmised that rising personal and national debt is an "overriding factor" determining why Americans are "pessimistic" about the economy.
Over the last three years, the national debt has risen by $6 trillion. Additionally, personal credit card debt sits at $1.1 trillion.
SamSpade
Well-Known Member
This is a case of looking at economic indicators as proof of how well people are doing.
They'll look at the stock market, the jobs report and other indicators and say "what a good boy am I!".
Look - since he took office - everything cost more. A LOT more. And it's not going BACK down. When you look at your gas, groceries, electric and other bills together taking 30-40% more - when your credit card payments JUMP because interest rates have gone up - and pay has not -
THAT - is the economy, to most Americans - their job and their bills and their other costs. You can talk trade balance and futures and stock market and it doesn't mean anything if they have to use a credit card to pay bills they used to pay with cash, or take from savings.
Oh but the price of gas is down, Biden policies has lowered prescription drug prices, gone after pay day loan companies
CPUSA
Well-Known Member
SamSpade
Well-Known Member
Compared to what? The average price of gas under Biden has been higher than the highest prices under Trump. Saying it’s lower means nothing.
Reminds me of a guy who used to drink an incredible two cases of beer a day - and bragged he’d cut it in half to one case a day.