High gas prices worth it for ‘future of liberal world order’ Biden adviser says.

Congressional Democrats-- in the House, as well as the Senate; those from Swing districts, and who serve in more Conservative parts of the country-- all came together to spend $1.9 trillion, on people all across the country, just to buy votes in Georgia, in the hopes of it leading to the Dems being in charge of the Senate-- 'cause look how much that is enabling them all to get done: that's what you believe? If this had occurred just before a national election, I might concur; but right after? You might be surprised to learn that many, maybe most Democrats, are not going to be eager to stick their necks out, for some other politician's benefit, especially one that hasn't yet been elected. And I think most have more integrity than to run up the debt to any tune, remotely similar, for something that they do not believe will be a benefit, to the country, but for purely partisan purposes. Remember, Manchon & Sinema were not the only two Democrats in Congress, who balked at the full- scale "Build Back Better," plan.

But if you are resolved to believe this, and all logical argument be damned, then there is no point in my using common sense points, to try to change your mind about people, you make little pretense in hiding, you see as an enemy.

 

If you going to be dishonest about this it isn’t worth talking about. It was in Biden’s agenda and it was sold that without the Georgian democrat senators it wouldn’t happen. If you are that short sighted and dishonest I won’t engage in this conversation with you.

 

Because my perspective differs from yours, I assure you, does not mean that it is not genuine (even if it is hard for you to imagine that any other viewpoint, than your own, could be taken seriously, even by the person promulgating it). Your allowing that my opinion might be "short-sighted," regardless of your not explaining the charge, nevertheless, would therefore be an alternative, to misrepresentation; and yet you do not say, "if you are that short sighted or dishonest..." If you are going to call anyone with a different opinion, "dishonest," then I thank you for not "engaging," with me in more of this, or any other conversation, in which that will be your, most uncivil, modus operandi.

 

We are not talking opinion. It’s a fact it was sold during campaigns and it’s also a fact that Biden has done absolutely nothing to bring fuel prices down.

 

It is also a fact that it was "sold," during a period of great economic distress, for many Americans; yet that, you can see, as being merely a coincidence of timing-- though not so, the Georgia campaign. I would only allow that it was one factor, which was used to help sway some votes; it was not, however, the reason, for the action: so you have things exactly backwards.

 

Not really so cavalier. It is a term that has been used since WWII to describe the governing of global affairs since the end of World War II. It has ZERO to do with American politics. In context, Biden is simply saying that it is vital that Ukraine continue to be assisted - if they lose, the world order is irrevocably changed.

 

It has everything to do with it. Part of the liberal world order is the desire to sacrifice whatever is necessary to end the use of oil and gas. Federal government has gone to war with the oil and gas industry. It has promised to put the oil companies out of business. Creating new production requires a lot of investment and nobody is going to invest in an industry that has federal government as an enemy bent on destroying it. So no new wells. No new refineries even though the current refineries are near 100% capacity. In other words, no new American oil and gas production. That puts us into the international marketplace where we didn't used to be. We can't determine our own prices we have to live with the rest of the world.

 

I dont know...why not ask the shell or Exxon. Because it isnt the price of oil that causing the gas price jump

 

well since he released his taxes every year for the last 25 years, you we all know he doesnt have that kind of money.

But hey, you keep making things up to help yourself sleep at night

 

I don't see the Biden Administration as the federal government. This all on Biden and his cronies and they will soon be gone starting in November.

 

Biden is estimated to have made 17 million dollars from 2016-2020. Forbes confirms this.

 

Or perhaps Hunter made it for him.

 

Europe getting a crash course in what life will like without fossil fuel like the degrowthers fantasize over ?

Scheduled 10-day shutdown of the Nord Stream 1 pipeline - which supplies the bulk of European nat gas usage courtesy of Russia - for maintenance has started. DB FX strategist George Saravelos pondered what would happen if on July 22, Putin doesn't turn the gas back on. "Beyond the market's worries about slower global growth in recent months, what is unfolding in Europe in recent days is a fresh big negative supply shock."

DB's Jim Reid: "While we all spend most of our market time thinking about the Fed and a recession, I suspect what happens to Russian gas in H2 is potentially an even bigger story. Of course by July 22nd parts may have be found and the supply might start to normalize. Anyone who tells you they know what is going to happen here is guessing but as minimum it should be a huge focal point for everyone in markets."

Bloomberg has now dubbed Europe's "doomsday scenario" if Putin doesn't turn the gas back on: European stocks plunging 20%. Junk credit spreads widening past 2020 crisis levels. The euro sinking to just 90 cents, before a full-blown recession slams the world's 2nd biggest economy.

"Europe's braindead bureaucrat's energy policies have been dictated by a petulant spectrum Scandinavian teenager and a bunch of German "greens". Strategists across Wall Street have tried to put numbers on a scenario that would be unthinkable in normal times; the scenarios are catastrophic."

“The big unknown is how the shock that starts in Germany, Poland and other central European countries will reverberate throughout the rest of Europe and the world,” said Joachim Klement, head of strategy at Liberum Capital. “There simply is no substitute available for Russian gas.”

If "Russia halts gas deliveries to Europe: It would reduce corporate earnings by more than 15%. The market selloff would exceed 20% in the Stoxx 600 and the euro would drop to 90 cents. The rush for safe assets would drive benchmark German bund yields to 0%."

French and German leaders are warning populations to "prepare for total cut-off of Russian gas" though many investors still believe there’s reason to believe Russia will turn gas supply back on when maintenance on the Nord Stream 1 pipeline ends on July 21. But if European countries start voluntary gas rationing to fill up on storage, the hit to economic growth will be severe."

"Higher energy prices are hurting Europe’s economy, driving the euro lower. In turn, the weaker euro makes energy imports even more expensive."