Biden’s economy

[Anonymous]

Thanks, Biden


https://finance.yahoo.com/news/gas-prices-us-europe-181512839.html

Several European countries pay north of $7 or $8 per gallon, including Germany, France, Italy, Spain and the United Kingdom. At the top of the expensive list is Hong Kong, where prices per gallon are higher than $11, followed by Norway at more than $10.

"European energy prices of all kinds are higher than what consumers in the U.S. pay," Peter McNally, Global Sector Lead for Industrials, Materials and Energy at Third Bridge told Yahoo Finance. "This was the case before 2022, but it has only become wider since."

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can thank the GQP who voted against the gas price gouging bill

Someone never took econ 101 and doesn't understand inflation and regulatory costs in today's energy sector.

Care to break that down for us? Teach us. Regulatory costs were the same in 2020 and 2021 btw.

[Anonymous]

Dammit, Biden


https://www.cnbc.com/2022/07/01/euro-zone-inflation-8point6percent-in-june-ecb-to-hike-rates-for-first-time-in-11-years.html

Euro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years.

Headline inflation came in at 8.6% (year-on-year) for last month, according to preliminary figures from Europe’s statistics office Eurostat released Friday. That beat a prediction of 8.4% in a Reuters poll of economists. The rate had reached 8.1% in May which means the cost of living is continuing to surge across the euro zone nations.

Germany surprised many earlier this week when it reported a drop of 0.5 percentage points in inflation month-on-month. Experts said this was due to new government subsidies to ease the impact of higher energy prices and it was not yet the end of surging inflation rates.

But both France and Spain experienced new inflation records in June with the latter surpassing the 10% threshold for the first time since 1985, according to Reuters.



I like the bolded especially, since everyone is blaming the stimulus for inflation. LOL.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can thank the GQP who voted against the gas price gouging bill

Someone never took econ 101 and doesn't understand inflation and regulatory costs in today's energy sector.

Can you explain to us this as well? You know, in light of the inflation and rising regulatory costs the poor oil companies are dealing with

https://www.npr.org/2022/05/07/1097177459/big-oil-exxon-earnings-gasoline-prices-crude

"The bottom line is that the industry is generating the highest free cash flow certainly in the 25 years that I've looked at this business," says Doug Leggate, who runs the oil and gas equity research team for Bank of America, referring to a key metric for companies.

The record earnings in the first months of this year are leading to big dividends and share buybacks for investors.

Exxon plans to buy back up to $30 billion in shares by the end of next year, triple what it had initially projected.

Other companies, including BP and Chevron, are also returning money to shareholders.

[Anonymous]

Anonymous wrote:Thanks, Biden


https://finance.yahoo.com/news/gas-prices-us-europe-181512839.html

Several European countries pay north of $7 or $8 per gallon, including Germany, France, Italy, Spain and the United Kingdom. At the top of the expensive list is Hong Kong, where prices per gallon are higher than $11, followed by Norway at more than $10.

"European energy prices of all kinds are higher than what consumers in the U.S. pay," Peter McNally, Global Sector Lead for Industrials, Materials and Energy at Third Bridge told Yahoo Finance. "This was the case before 2022, but it has only become wider since."

Americans pay very little for gas. When you consider price of gas per average household income, gas in the US is practically free compared to any other country. Americans are out of touch and feel ENTITLED to exploit world resources.

[Anonymous]

FunzFact: Exxon made more money in 2011 ($50b) than in 2021 ($31b).

Another FunzFact: Exxon lost $29b in 2020

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can thank the GQP who voted against the gas price gouging bill

Someone never took econ 101 and doesn't understand inflation and regulatory costs in today's energy sector.

Can you explain to us this as well? You know, in light of the inflation and rising regulatory costs the poor oil companies are dealing with

https://www.npr.org/2022/05/07/1097177459/big-oil-exxon-earnings-gasoline-prices-crude

"The bottom line is that the industry is generating the highest free cash flow certainly in the 25 years that I've looked at this business," says Doug Leggate, who runs the oil and gas equity research team for Bank of America, referring to a key metric for companies.

The record earnings in the first months of this year are leading to big dividends and share buybacks for investors.

Exxon plans to buy back up to $30 billion in shares by the end of next year, triple what it had initially projected.

Other companies, including BP and Chevron, are also returning money to shareholders.

The oil industry is a boom/bust industry. They made no money in 2020. Are you really trying to say they should only be subject to losses and no profits? And then you wonder WHY nobody in this industry wants to invest in further development???

[Anonymous]

Such interesting and informative facts posted here. Hoping that Democrats will use them during their campaigns this November! Will be so very reassuring to potential voters!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Thanks, Biden


https://finance.yahoo.com/news/gas-prices-us-europe-181512839.html

Several European countries pay north of $7 or $8 per gallon, including Germany, France, Italy, Spain and the United Kingdom. At the top of the expensive list is Hong Kong, where prices per gallon are higher than $11, followed by Norway at more than $10.

"European energy prices of all kinds are higher than what consumers in the U.S. pay," Peter McNally, Global Sector Lead for Industrials, Materials and Energy at Third Bridge told Yahoo Finance. "This was the case before 2022, but it has only become wider since."

Americans pay very little for gas. When you consider price of gas per average household income, gas in the US is practically free compared to any other country. Americans are out of touch and feel ENTITLED to exploit world resources.

Now here's a post that could be useful in Democrats in campaign messaging.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can thank the GQP who voted against the gas price gouging bill

Someone never took econ 101 and doesn't understand inflation and regulatory costs in today's energy sector.

Can you explain to us this as well? You know, in light of the inflation and rising regulatory costs the poor oil companies are dealing with

https://www.npr.org/2022/05/07/1097177459/big-oil-exxon-earnings-gasoline-prices-crude

"The bottom line is that the industry is generating the highest free cash flow certainly in the 25 years that I've looked at this business," says Doug Leggate, who runs the oil and gas equity research team for Bank of America, referring to a key metric for companies.

The record earnings in the first months of this year are leading to big dividends and share buybacks for investors.

Exxon plans to buy back up to $30 billion in shares by the end of next year, triple what it had initially projected.

Other companies, including BP and Chevron, are also returning money to shareholders.

The oil industry is a boom/bust industry. They made no money in 2020. Are you really trying to say they should only be subject to losses and no profits? And then you wonder WHY nobody in this industry wants to invest in further development???

Oil Industry is an Oligopoly that controls the market. They did not lose money in 2020, their earnings per share went down. In a competitive energy market their earnings per share would be nowhere near what they are on an absolute basis, and would certainly not grow at the pace that they have. They have a stranglehold on a product that is not easy to substitute. The SEC should not allow them to buy up alternative energy companies and squash competition on energy markets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thanks, Biden


https://finance.yahoo.com/news/gas-prices-us-europe-181512839.html

Several European countries pay north of $7 or $8 per gallon, including Germany, France, Italy, Spain and the United Kingdom. At the top of the expensive list is Hong Kong, where prices per gallon are higher than $11, followed by Norway at more than $10.

"European energy prices of all kinds are higher than what consumers in the U.S. pay," Peter McNally, Global Sector Lead for Industrials, Materials and Energy at Third Bridge told Yahoo Finance. "This was the case before 2022, but it has only become wider since."

Americans pay very little for gas. When you consider price of gas per average household income, gas in the US is practically free compared to any other country. Americans are out of touch and feel ENTITLED to exploit world resources.

Now here's a post that could be useful in Democrats in campaign messaging.

You mean voters want to be led blindly by the GOP into a cliff, instead of becoming aware of basic facts of life?

[Anonymous]

In 2020, the big five oil companies lost a combined $76 billion.

https://www.google.com/amp/s/www.forbes.com/sites/rrapier/2022/04/24/if-oil-companies-control-prices-why-do-they-ever-lose-money/amp/

Why does the Dims ignore this until it hits Americans pocketbook? November will be a bloodbath!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thanks, Biden


https://finance.yahoo.com/news/gas-prices-us-europe-181512839.html

Several European countries pay north of $7 or $8 per gallon, including Germany, France, Italy, Spain and the United Kingdom. At the top of the expensive list is Hong Kong, where prices per gallon are higher than $11, followed by Norway at more than $10.

"European energy prices of all kinds are higher than what consumers in the U.S. pay," Peter McNally, Global Sector Lead for Industrials, Materials and Energy at Third Bridge told Yahoo Finance. "This was the case before 2022, but it has only become wider since."

Americans pay very little for gas. When you consider price of gas per average household income, gas in the US is practically free compared to any other country. Americans are out of touch and feel ENTITLED to exploit world resources.

Now here's a post that could be useful in Democrats in campaign messaging.

You mean voters want to be led blindly by the GOP into a cliff, instead of becoming aware of basic facts of life?

No. I think they want to be told how out of touch and entitled they are. Go ahead.

[Anonymous]

Anonymous wrote:In 2020, the big five oil companies lost a combined $76 billion.

https://www.google.com/amp/s/www.forbes.com/sites/rrapier/2022/04/24/if-oil-companies-control-prices-why-do-they-ever-lose-money/amp/

Why does the Dims ignore this until it hits Americans pocketbook? November will be a bloodbath!

I do agree that November will be a bloodbath--but not for the reasons you think.

[Anonymous]

Meanwhile the US Treasuries had its worst first half of the year since 1788... Biden will go down as the worst President ever!

https://www.reuters.com/markets/rates-bonds/brutal-first-half-puts-bonds-line-worst-year-decades-2022-06-30/