Affordable New Hampshire

[JaneV2.0]

It fascinates me that a certain class of people call our president ‘sleepy joe’* but simultaneously are proud to call themselves sleepy. (They don’t actually call themselves sleepy but since they disparage ‘woke’ people I can only assume they themselves prefer to be sleepy.)

*this in itself is also strange since he has managed to get congress to pass more of his agenda in less than two years than any other president in my lifetime.

Yes. He'll go down as one of the most successful presidents in history regardless of detractors. Though he wasn't my first choice, I'm suitably impressed.

[Yppej]

You all can be impressed but it's still the economy stupid.

[JaneV2.0]

You all can be impressed but it's still the economy stupid.

All the economic markers that a President has influence over are humming along. Gas prices are down and inflation is slowing. Both oil and gas prices are a worldwide phenomenon.

[Yppej]

All the economic markers that a President has influence over are humming along. Gas prices are down and inflation is slowing. Both oil and gas prices are a worldwide phenomenon.

Yeah. The president didn't control gas prices when they were high, but now he does.

[JaneV2.0]

Yeah. The president didn't control gas prices when they were high, but now he does.

He did release the oil reserves and scold the fossil fuel oligarchs--about all he could do.

[frugal-one]

Saw on BBC that England has the worst inflation in their history. Inflation is worldwide…. not just here.

[Alan]

He did release the oil reserves and scold the fossil fuel oligarchs--about all he could do.

No, that's not all he could have done. The global price of oil is only a part of the equation, that oil must be refined and turned into an end product. US refineries are operating upwards of 95% of capacity and we're not likely to see new refineries go online during an administration that has focused so much energy promising no long term return on investment.

If the industry can't profitably increase supply, then demand becomes the deciding factor in price. The reason prices are going down now is that his policies pretty much capped supply of product to the point that historically high prices decreased demand which gradually forces price decline. The price of oil may depend wholly on global conditions but the price of gas in America is based upon Democratic policies.

[JaneV2.0]

Fossil fuel oligarchs are playing games with their drilling permits.

https://news.yahoo.com/fact-checking...170008791.html

[JaneV2.0]

In this graphic, you can see we're among developed countries with relatively low gas prices:

https://www.globalpetrolprices.com/gasoline_prices/

From the website:

Gasoline prices, litre, 15-Aug-2022
Gasoline prices, Octane-95, 15-Aug-2022: The average price of gasoline around the world is 1.37 U.S. Dollar per litre. However, there is substantial difference in these prices among countries. As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. One notable exception is the U.S. which is an economically advanced country but has low gas prices. The differences in prices across countries are due to the various taxes and subsidies for gasoline. All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of gasoline is different. ....
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[Yppej]

The reason oil prices have gone down are 1) that the only way the Federal Reserve knows how to control inflation is by throwing us into a recession, two consecutive quarters of negative growth. So they're lying and saying a recession isn't a recession. We don't need them manipulating our economy. The Fed should be abolished and 2) China continues to follow a failed covid zero policy.

But this dip is to levels that are still high, moreso for diesel which impacts the supply chain and for home heating oil.