It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Inflation 5% in May, most since 2008

page: 5
20
<< 2  3  4   >>

log in

join
share:

posted on Jun, 11 2021 @ 07:04 PM
link   
a reply to: AugustusMasonicus




It has nothing to do with good/bad and that doesn't make us petroleum independent as the poster claimed, we cannot process all of the oil we extract. To be truly independent we need the refining infrastructure to process what we extract, this does not exist.


The infrastructure is there its just more cost beneficial to sell the light crude as that's not the bulk of what we drill so we don't setup our refineries to process it. Trump was working in getting it setup so we can and the biden admin has reversed those polices. The oil companies would rather make a buck selling our light for cheaper heavy crude and without them government stepping in that's exactly what they do. I doubt it would take long to swap a few refineries over to refine light crude and we have more than enough oil domestically to sustain the US if we can actually tap it...which is another part of the equation bidens admin is falling short on. Seems we are on a tangent arguing about where the oil comes from considering its could come from home if it was allowed to be tapped which was the original bit you responded about.



posted on Jun, 12 2021 @ 12:32 AM
link   
Biden has been president less than 6 months. This is all on Trump. He did a lousy job. a reply to: pianopraze



posted on Jun, 12 2021 @ 07:49 AM
link   

originally posted by: Ahabstar
Fun fact: Standard Oil of Ohio was called SOHIO and used the same logos as Standard, Bonded, Boron and one other company that I forget now...35 some years and that I never stopped at one tends to do that. And BP used to have a maple leaf.


Fun Fact 2: ExxonMobil is basically the old Standard Oil.



posted on Jun, 12 2021 @ 07:50 AM
link   
a reply to: RickyD

And? Does that disprove what I said to the other poster that we are not 'oil independent'?



posted on Jun, 12 2021 @ 12:40 PM
link   
a reply to: BobbyJoeSmiths

When you cancel a major pipeline your first couple days and the price makes a hard turn upwards...that is very much on Biden.

I remember when oil dropped to negative $20/bbl. “Want a barrel oil? Here’s twenty bucks for taking it off my hands.”



posted on Jun, 12 2021 @ 04:38 PM
link   
I don't know what that has to do with inflation. a reply to: Ahabstar



posted on Jun, 12 2021 @ 04:44 PM
link   

originally posted by: BobbyJoeSmiths
I don't know what that has to do with inflation. a reply to: Ahabstar


Price of oil goes up = price of transporting goods goes up = price of goods goes up. Simplified explanation but basically your dollar buys less.



posted on Jun, 12 2021 @ 04:50 PM
link   
That's very simple and also a lie. How can a pipeline that never existed cause inflation? The factors to cause inflation were in effect long before Biden was sworn into office. a reply to: Khaleesi



posted on Jun, 12 2021 @ 06:31 PM
link   

originally posted by: BobbyJoeSmiths
That's very simple and also a lie. How can a pipeline that never existed cause inflation? The factors to cause inflation were in effect long before Biden was sworn into office. a reply to: Khaleesi


Where is the lie in what I stated? It's extremely simplified but still holds true. Your dollar buys less = inflation. Oil price goes up, transporting cost go up. That increase is passed to the consumer. Why have oil prices gone up? There are several reasons. One of those reasons is the market sees the Biden administration as favorable towards tightening the market. They've certainly given that impression by embracing at least some of the ideas presented in the Green New Deal.
edit on 12-6-2021 by Khaleesi because: Grammer



posted on Jun, 12 2021 @ 06:37 PM
link   
a reply to: pianopraze




" Inflation 5% in May, most since 2008 "


Gee , Thanks Dems , you Mother Fu.............)



posted on Jun, 12 2021 @ 06:54 PM
link   
You're saying oil prices went up because Biden cancelled the Keystone Pipeline. Prove it. Prove that is why oil prices went up. a reply to: Khaleesi



posted on Jun, 12 2021 @ 07:18 PM
link   

originally posted by: BobbyJoeSmiths
I don't know what that has to do with inflation. a reply to: Ahabstar



Goes hand in hand with clearly not understanding a goddamn thing about economic.



posted on Jun, 12 2021 @ 08:08 PM
link   
The economy is not affected by non-existent pipelines. Idiot, or are you a dummy? a reply to: burdman30ott6



posted on Jun, 12 2021 @ 08:15 PM
link   

originally posted by: BobbyJoeSmiths
You're saying oil prices went up because Biden cancelled the Keystone Pipeline. Prove it. Prove that is why oil prices went up. a reply to: Khaleesi


Quote me where I said that. You can't because I never said it. I simply said oil prices rising = inflation.



posted on Jun, 12 2021 @ 08:22 PM
link   
You're saying oil prices are up because of inflation. Well duh. All thanks to Trump's horrible
economy. a reply to: Khaleesi



posted on Jun, 12 2021 @ 08:25 PM
link   

originally posted by: BobbyJoeSmiths
You're saying oil prices are up because of inflation. Well duh. All thanks to Trump's horrible
economy. a reply to: Khaleesi


No. I said inflation is up because oil prices are up.



posted on Jun, 13 2021 @ 07:43 AM
link   
a reply to: pianopraze


What about crypto ?



new topics

top topics



 
20
<< 2  3  4   >>

log in

join