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PostPosted: Tue Jul 10, 2018 1:18 pm 
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Trumps tax cuts for the Middle Class ($1000 on average) have been completely eaten up by higher gas prices... once again we the people are left holding the bag while the rich get richer


Did you expect anything less from the swampy Goldman Sachs president?

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PostPosted: Tue Jul 10, 2018 1:39 pm 
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I believe you are actually correct on this one...
Even a blind squirrel finds a nut from time to time.

But gas prices are much more important to our economy than just our cars. Gas prices affect every aspect of the economy, from the price of oranges to tennis shoes. It makes everything cost more when gasoline prices go up.

We are in a global economy where demand for gasoline in India and China affects us in America. The only way to to lower prices is to pump more oil, or wait for the economy to slow down and go into recession. See the chart below- the spike up and the free fall down. That free fall was the great recession.

The last recession was caused by a spike in oil prices to $150/barrel. It caused companies to cut jobs and raise prices which in turn- caused more companies to lay people off. The large spike of layoffs caused a huge spike in mortgage defaults, which caused the housing crash. The USA was losing 800,000 jobs per month.

There is a potential for the same thing to happen again, and the spike could exceed $150/barrel. This would shut down the US economy!

Here is a chart that shows the spike- which was caused by strong world wide demand and limited supply...
Image

Ask yourself this question sport... Without the tax cuts and Trump's policy of pumping more oil- we would really be screwed right now. So- Thank You Trump again!!

Quote:
The oversupply of crude globally in recent years has masked “chronic underinvestment,” Bernstein said in the report. Oil has rebounded to the highest in more than three years as the Organization of Petroleum Exporting Countries and its allies started curbing output at the beginning of last year to trim a global glut. The producers aim now to pump more to help cool the market, but disruptions from Libya to Venezuela are keeping prices elevated.

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PostPosted: Tue Jul 10, 2018 1:56 pm 
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Thanks!

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PostPosted: Tue Jul 10, 2018 1:59 pm 
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Is Trump "pumping" more oil? And if thats the obvious solution wouldnt any president do that?

its not brain science

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PostPosted: Tue Jul 10, 2018 2:18 pm 
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Golf n Gamble wrote:
Is Trump "pumping" more oil? And if thats the obvious solution wouldnt any president do that?

its not brain science

Yes Trump is allowing more oil to be pumped in the USA. He has relaxed regulations and his administration has issued more permits to drill.

But Obama did exactly the opposite. The oil spike happened in the last months of the Bush Administration. When Obama won the election in November, 2008, he made it clear that there would be more regulations, and he suspended many hundreds of permits to drill for more oil.

This caused the oil markets to panic, and it made the oil spike worse - and the recession worse.

Yes- brain science (damage) indeed!

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Socialism is a philosophy of failure, the creed of ignorance, and the Gospel of envy. Its inherent virtue is the distribution of equal misery Churchill

https://fcpp.org/2009/01/16/atlas-shrug ... -52-years/

Government is not the solution to our problem, Government is the problem
Ron Reagan


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PostPosted: Tue Jul 10, 2018 2:24 pm 
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Sorry, I don't know if you were alive then but all that shit hit the fan when the oil man George Bush Jr was president...

The economy was in Ruins when Obama took over

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PostPosted: Tue Jul 10, 2018 2:35 pm 
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I was under the impression that we are now the largest exporter of oil in the world. If that’s the case the supplies should be much more stable than before. Shale production should kick in and act as s stabilizing factor. I read that article about the lack of investment but I’m not convinced that that isn’t overshadowed by shale development.

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PostPosted: Tue Jul 10, 2018 2:57 pm 
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Higher gas prices can be a sign of a good economy.

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PostPosted: Tue Jul 10, 2018 3:27 pm 
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Maybe you guys should get together and get your story straight before you present it to me.

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PostPosted: Tue Jul 10, 2018 4:30 pm 
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Quote:
US energy companies last week increased the number of rigs drilling for oil by five to 863, up 100 year-on-year, General Electric Co's Baker Hughes energy services firm said in its closely followed report late on Friday.

The US rig count, an early indicator of future output, is much higher than a year ago as energy companies have ramped up production in response to higher prices.

Extra output is needed because oil demand has been rising fast this year and supply from several parts of the world, including Venezuela and Libya, has been falling.

This has tightened the market, especially in the United States.
Supply and demand is pretty easy for most people to comprehend. When the supply was high drillers had to dial back due to falling prices, now they are ramping up again which means more jobs, again, and lower prices will follow, again. It's not rocket science.

https://economictimes.indiatimes.com/ma ... 911862.cms

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