White House cites oil 'supply issues' amid gas price surge, promises more pressure on OPEC

White House cites oil 'supply issues' amid gas price surge, promises more pressure on OPEC?

This is predictable consequence of destroying the energy industry before an alternative hits prime time. What would anyone expect other than this? It is a good thing the white house denizens aren't running businesses. They would lose a fortune. Oh, I forgot, they are losing a fortune even there.

 

The oil price itself is also global, and not just a price in US, which is why its ignorant to think US president controls the oil price. Saudis have most say in it, and they have manipulated the price in the past in order to hurt their competition, and when they want to hurt the US, they bring the price down by producing more, which makes US production unprofitable.

 

who is destroying the cheap foreign oil supply?

who wanted prices to go up to make more profits for US oil companies last year?

 

I agree, US oil companies are not gonna give us cheap oil just cause they can, and Biden can't make them lower prices

many on the right claim they can control this, but they can't, foreign oil supply is a big part of the price, a huge part

 

You don't understand the difference between domestic and foreign oil. What the administration has done has added more than a dollar per gallon in price. Must have been Trump that cut the throat of the petroleum industry. Live with it.

 

I did not agree with Trump wanting the price of oil to go up last year, he should have stayed out of it

just let us enjoy cheap oil for awhile while they worked it out, I was fine with that

 

Government should always stay out of the business of businesses.

 

in some areas, we do need to stop excessive foreign outsourcing and excessive foreign imports

but not of natural resources like oil, as we only have a finite amount of those resources, when we're out, we're out

 

It is easy for government to do that without meddling in businesses. The easy thing is called a tariff.

 

agree for imports.... but foreign outsourcing of jobs needs to be done by corporate taxes

if a corp saves money by outsourcing jobs, don't give them a tax cut, give it to those that do not outsource jobs

 

Tariffs tend to motivate the movement of manufacturing and services from abroad to the country with the tariffs. There are no tariffs on domestic manufacturing. That is how you fix outsourcing. Punishment is never a good solution. It always backfires. Motivation is the key. Just look at the mess vaccine mandates have caused. Think it through.

 

I agree ewith tariffs

the only positive to us using so much foreign outsourcing and foreign imports is that other countries have become dependent on our money, which means we have been able to print it without issue as their economy is tied to ours and visa versa - if our economy crashes, so does theirs

but it also means their supply issues effect us too

the problem is, trying to change anythign now, could cause it all to crash

 

Then that is their problem. Let's worry about us.

 

it's also our problem though - their economy is tied to ours and visa versa

the problem is, trying to change anything now, could cause it all to crash

we put our hand in Pandora's Box, now removing it will be painful

and with such a divided political system, any pain will be blamed on the other side, so nothing will change, we are on this train and I see no way to get off without a crash, if we're lucky, that won't be for a long long time

 

Tariffs punish the US consumer, since the additional tax is passed onto the consumer.

 

and without jobs due to foreign outsourcing, it won't work either, unless we print money and give it to consumers to spend

but if we stop imports, our money becomes worthless as they are not dependent on us anymore - catch 22

 

Government can never spend its way to prosperity.

 

times have changed, that was true in the past, but in a global digital economy, the rules seem to be changing

our economy should of already crashed based on the old rules

we passed the point of no return long ago, we are almost 30 trillion in debt and still going

 

True. But the consumer gains overall by seeing increased domestic production. We all benefit from a stronger economy. Reclaiming manufacturing means jobs and I don't mean Walmart greeter jobs.

 

true, but at this point we need a crash first, the US needs to go bk and start over, no one wants that as it will be painful for many many years, so we ride this train out as long as we can

and it's not just the USA that doesn't want that, it's other countries too, that is the only reason all this is working

perception is reality, as long as people want it, it will continue

 

That is what the marxists want but it it isn't even remotely true. We just need to go back to policies we had in smarter times.

 

we would need huge inflation to pay off our debt and need to reduce foreign outsourcing and foreign imports drastically

neither party is gonna take the blame for the years of pain that will cause, so do not see it happening

it would take both parties coming together and making it a joint mission, so neither could blame the other

foreign governments would have teams of fake posters flooding our social media to divide us and cause the people to start a civil war, and with the type of pain the people would be feeling, it would be easy for them

 

Not much of a catch 22 considering we have labor shortage, which is the opposite of what you describe.

 

Well, you can always throw up your hands and avoid any action. Trump's tariffs were quite effective. Every government on the planet uses tariffs. I don't wonder why.

 

which is why the government is spending so much, that is the point, if we stop spending, it all come crashing down

we should have lowered the SS retirement age, not raised it, we do not need people in the workforce longer - let the young take those jobs

I personally see no way out of this without a crash or massive inflation, and then the government leveling the play field for American workers