caryking said:
Civilized said:
SexualChocolate said:
I'm in the gas industry and I know the gas prices have been discussed but here is a good article that talks about it.
https://www.forbes.com/sites/mikepatton/2022/03/09/the-real-reason-behind-surging-gas-prices/?sh=20355e7f26de&fbclid=IwAR0taOUmKE2DVmU9ZYVrJS5aMno6L2GCi9Dxuq_Xx1XO3jPPARLZBPxHSdw
"Keystone XL had minimal effect on current pricing"
"The global pandemic caused a significant disruption in global supply chains, including oil. Even though the global supply of oil may have declined during COVID-19, demand was also muted as people were afraid to travel. This kept oil and gasoline prices low. As the world began to emerge from the pandemic, demand increased.
"This recent spike is not a product of President Biden. It is the culmination of many issues, with Russia's aggression at the top of the list."
This all sounds so…familiar.
Civ, let's assume you are correct. Additionally, let's assume the data in this video is correct (I haven't, so, please validate the numbers), then how do we explain what's being said…
Perhaps it's not oil, I don't know, because I'm not an economist…
https://gettr.com/post/pzpc4idaa7
The main thing that's different is we got more stimulus here. We got too much stimulus. That was a miss by Biden's administration. I understand the sentiment that led to that outcome (erring on the side of inflation rather than recession after seeing how slow the under-stimulated Great Recession recovery was) but in hindsight it's impossible not to say the stimulus was overdone.
In addition to staving off another Great Recession I'm sure there was also the presumption that another key driver of inflation - supply shortages due to supply chain interruptions - would have eased more than it's eased so far. If we had the excess stimulus issue alone but supply chains had healed in some reasonable amount of time, inflation would have been lower than what we've seen.
Is stimulus playing a role in gas prices? In some small amount, yes, but there are other clear and more important factors I and many other authors and economists have already addressed. Global oil and gas supply levels, rapidly increasing demand, and geopolitical instability are all primary drivers causing gas prices to spike here and abroad. As with any complex issues, there are multiple contributing factors.
We've got to get out of this partisan myopia when it comes to assessing problems and ascribing blame. It's very helpful to read international press, see how the global markets are reacting to particular events, etc. to bring important context to issues we're experiencing here.
COVID wasn't "Trump's fault" any more than gas prices are Biden's. Are there specific things they or their administrations did or didn't do that contributed? Sure. But degrees matter. If you think Biden's stimulus played a small role in gas prices going up, feel free to say that, but also address the multiple other factors that contributed more.
Relatedly, the only people around the world that think Putin's invasion of Russia is "Biden's fault" are a portion of American Republicans. Finding a way to blame that conflict on the US is just more US-centrism that the rest of the world hates about us already. Nobody else anywhere in the world is saying this. And the reason they're not saying it isn't international media bias towards Biden. Saying it wouldn't even occur to them, given the complexities of the situation. It ain't always about us.
But if the invasion and subsequent war were going to get blamed on one person, that person should probably be the power-desperate autocrat that actually did the invading.
In short, my biggest objection is to taking complex, multifactorial situations (especially those with many global inputs), and reductively blaming them on one person or one input. Complex problems have complex, multifaceted causes and solutions.