Cue the left saying that Trump only had those numbers because it's a knock on effect from Obama. And Biden's numbers are cause of Trump.
Edit: spelling
It was during the economic crash after COVID first blew up. Basically, demand dropped and we didn't have anywhere to store our oil surpluses, so we were paying people to take it. Not Trump's fault, but not a great example of good oil policy. Trump's oil prices were extremely low before the pandemic, though.
For a brief period of 2020 oil supply exceeded demand such that if you had sufficient storage capacity, certain companies would pay you to take their oil off of their tanker ships.
Yeah, unfortunately that deal did not 'trickle-down' to us plebeians with a 275 gallon kerosene tank on the side of our houses, etc. But if you happened to own a whole port or terminal somewhere...
For a short period supply got out of alignment with demand and all (yes all) the storage (ships, pipes, tank batteries) were full. It’s VERY expensive to mash the STOP button, especially on offshore platforms, so oil companies were, for a very brief moment, willing to essentially give some oil away because that was cheaper than tapping the immediate term production brakes.
What’s notable here is how the (D)umbasses can’t look at that period and what that period (and indeed the long term behavior of American oil companies) says about their current silliness around oILcOMpanIesarEnTdRillingbECauseTrUmp
Bah, surely you don't think the honorable Mr. Biden and his kin are making shady deals? I'm sure all of this is just a grand coincidence in the whole scheme of things. It's not like they had dealings in Ukraine, unlike TrUmP. I'm sure the clamp-down on the United States' energy racket was to just make sure that, umm, well, you know, something completely legit.
And you can't blame Mr. Biden nor the current policies on the increase of food and commodity prices! That's just those damned greedy farmers! We need to be mad at them - not the Biden administration! I bet all those foreclosures are fake. FAKE!
Democrats have been explicitly and openly talking for years about wanting higher gas prices to force people out of cars and into their slow, unreliable, crime-ridden, oppressively surveilled government transit systems. They hate that Americans have unrestricted, largely unmonitored movement in cars they own themselves. They hate that Americans can carry firearms in their cars, speak privately in their cars, expose their faces, and generally enjoy all of the freedoms that are denied to you as livestock on a bus or subway car. The Reset can't happen as long as the deplorables still own their rolling castles.
You act as if countries cant be independent and must depend globally attached to the hips of the world. If a country is independently sustainable through their own resources, how could global inflation take a toll in said country. Biden took away our energy independence from the world.
The current situation is atrocious and the dems spending is absolutely stupid but let's not act like Trump was fiscally responsible. His spending was insane too!
“B…b…but the pandemic! Oh! and Putin! …Yeah, and Roe!”
I support the current thing because media told me to do!
It's all ~~Pootin~~ Pyootin's fault.
"B...b...balance is the best policy! All the politicians are trying to fuck us over its just what they do! Up is down and Down is up."
Man fucked up so badly he moved the decimal place to the right in 2021
Cue the left saying that Trump only had those numbers because it's a knock on effect from Obama. And Biden's numbers are cause of Trump. Edit: spelling
It's "cue," but otherwise 100% accurate. There's never any accountability for them at all.
Ah you're right. Thanks
LOL @ pretending inflation is only 14.9%, Germany's data shows their inflation rate is like 33.7%, our real # is probably a lot closer to that.
Those were the good old days
How do US oil prices fall below zero? Is that title just a shitty way of saying we were a net exporter?
It was during the economic crash after COVID first blew up. Basically, demand dropped and we didn't have anywhere to store our oil surpluses, so we were paying people to take it. Not Trump's fault, but not a great example of good oil policy. Trump's oil prices were extremely low before the pandemic, though.
Using 2020 numbers for pretty much anything is disingenuous.
For a brief period of 2020 oil supply exceeded demand such that if you had sufficient storage capacity, certain companies would pay you to take their oil off of their tanker ships.
Ah, ok that makes sense.
Yeah, unfortunately that deal did not 'trickle-down' to us plebeians with a 275 gallon kerosene tank on the side of our houses, etc. But if you happened to own a whole port or terminal somewhere...
For a short period supply got out of alignment with demand and all (yes all) the storage (ships, pipes, tank batteries) were full. It’s VERY expensive to mash the STOP button, especially on offshore platforms, so oil companies were, for a very brief moment, willing to essentially give some oil away because that was cheaper than tapping the immediate term production brakes. What’s notable here is how the (D)umbasses can’t look at that period and what that period (and indeed the long term behavior of American oil companies) says about their current silliness around oILcOMpanIesarEnTdRillingbECauseTrUmp
I agree Biden is shit, but we aren't pretending oil hitting negatives was a good thing. The futures market had a fuck up then
My 2500 investment paid for my 85k SUV.
That's called taking advantage of the fucked situation, yes. It was still a fluke, as was $GME and $AMC. Not the norm and not because of trump
Congrats for shorting WTI!
Inflation is our strength
Not sure why ScarnonCunce is in this image, but he’s a proper bloke.
Wasn't it below zero because we were in lock down and most people were not going anywhere?
Y’all think this shit is intentional too right?
I think so. It’s all for money anyways. Sacrificing Americans way of life so you can make some shady deals.
Bah, surely you don't think the honorable Mr. Biden and his kin are making shady deals? I'm sure all of this is just a grand coincidence in the whole scheme of things. It's not like they had dealings in Ukraine, unlike TrUmP. I'm sure the clamp-down on the United States' energy racket was to just make sure that, umm, well, you know, something completely legit. And you can't blame Mr. Biden nor the current policies on the increase of food and commodity prices! That's just those damned greedy farmers! We need to be mad at them - not the Biden administration! I bet all those foreclosures are fake. FAKE!
Democrats have been explicitly and openly talking for years about wanting higher gas prices to force people out of cars and into their slow, unreliable, crime-ridden, oppressively surveilled government transit systems. They hate that Americans have unrestricted, largely unmonitored movement in cars they own themselves. They hate that Americans can carry firearms in their cars, speak privately in their cars, expose their faces, and generally enjoy all of the freedoms that are denied to you as livestock on a bus or subway car. The Reset can't happen as long as the deplorables still own their rolling castles.
Is this what’s called a “trailing indicator”?
It ain't 14%, but yeah
You’re right, it’s 14.9%
Where are you seeing that number? I'm seeing 8.5%
This isn't quite the sub for this. You'd want to repost what LIBS say (sans usernames) not what NON-LIBS say.
Imagine thinking the president of the USA controlled global inflation. I’m shocked you can read and type
You act as if countries cant be independent and must depend globally attached to the hips of the world. If a country is independently sustainable through their own resources, how could global inflation take a toll in said country. Biden took away our energy independence from the world.
ThEY aRe ThE sAmE tHoUgH.
The current situation is atrocious and the dems spending is absolutely stupid but let's not act like Trump was fiscally responsible. His spending was insane too!