5 price increases that will eat away at your Social Security raise

sure

"Trump told Saudi: Cut oil supply or lose U.S. military support"

https://www.reuters.com/article/us-...se-u-s-military-support-sources-idUSKBN22C1V4

"Trump threatens 'very substantial' tariffs on imported oil if Saudi Arabia and Russia can't reach a deal to push prices back up"

https://www.insider.com/trump-threatens-saudi-arabia-russia-oil-tariffs-2020-4

 

You mean like how society survived for 200,000 years before democrats came along?

 

That is a ridiculous response. No, I mean how many people died of starvation and for lack of medical care over the past 200+ years prior to SS & Medicare coming into existence.

 

Maybe Mother Nature did not INTEND for human societies to create welfare states that benefit those who contribute the least to society for the benefit of communist despot's power psychopathy?

Darwin didn't argue that extinct inferior birds should have had democrats to feed them at the cost of birds that figured out how to feed themselves.

Darwin figured the best suited to survive, survived.

Science, bro...

 

oh brother.......well both you and I will have to agree to disagree on this thread. As such we are done discussing it with each other.

 

I learned that from a progressive acquaintance!

 

And thanks to a Republican president Nixon, we have SSI.

 

And became energy independent under Trump..................so where are we now under Biden?

 

The more salient question is will the Congress have to pass a supplemental interim SS COLA adjustment in six months so those on SS can even keep halfway up with the inflation that is roaring in.

 

So in "April 2020" we have this "threat - Stop flooding the oil market "or else" which you claim is responsible for the high prices today.

So you post 2 links of articles verifying that indeed Trump made such a threat -- kudo's for that - what you don't do, is state how this translates into higher prices today

Further .. had you read the links you posted - you would find that they tell you exactly what I did.. That El Saud and Russia were intentionally flooding the market - because they had had enough of the Shale oil over production - which was responsible for keeping prices low. The action timed to inflict max damage .. just after covid hit .. and to great effect.

WTI - West Texas Intermediate - price -after a brief rise up to around 70 -in 2018 - was trending down down down. https://markets.businessinsider.com/commodities/oil-price?type=wti

The reason for this decrease was due to the rapid increase in US-Shale oil production - So it was the US driving down prices -- Trump yelling "Drill Baby Drill" with no regard for what was going on around him .. in this case destabilization of the oil markets.

Russia/OPEC had tried this back in 2014 -- but didn't work - capital kept pouring into shale - despite never making a profit .. hence the term "Shale Oil Ponzi Scheme" .. after a decade of losing money .. the industry was on the brink. In 2019 the price was low - trending between 40-60 bucks - Capital had started to run for the exits .. writing on the wall.

Then Covid Hit -- and Russia/El Saud dropped the bomb .. sinking prices to "ZERO" .. some places were having to pay to take oil away.

After years of asking the US to stop flooding the market - Russia/Saud had enough - and said .. OK .. two can play at that game

By the time Trump had time to wake up and have his well done steak for breakfast with Ketchup .. the Shale Oil industry collapsed



As you can see from the above Chart - in a period of 2 weeks .. late Feb to mid -March ... One of the strongest players in Shale - one of the older US oil companies - Oxydental Petroleum ... lost over 80% of its value.

So now the story gets moronic .. After years of flooding the oil markets - ramping up particularly under Trump .. Russia/OPEC pleading please stop flooding the markets - Trump now cries .. "Stop flooding the markets" -

What is more moronic about this whole thing -- is that as you can see from the above Chart - as this is how the whole industry went .. many companies not even around any more .. Oxy survived.. albeit on life support - pretty sure they got some bailout cash as well.. but the damage was done .. all kings horses and all kings men .. were not going to put shale back together again ... and everyone knew it at the time .. myself had been waiting for this Ponzi to burst .. posted numerous times over the years on this wretched excuse for capitalism.

So in April -- Trump cries UNCLE - and reverses his position -- and it is Trump that stops flooding the markets with oil .. Shale oil production drops from 13 million bpd down to 10 mbpd .. which is huge .. Russia/El Saud -- having completed mission - go back to normal production .. not needing to reduce much as the US has reduced .. price however .. due to decreased covid demand perhaps .. never recovers and drags along at 40 a barrel .. ensuring few shale zombies are going to rise from the dead.. this carries on until Trump is ousted later in 2020.

Now since then .. not only has Russia/Saud increased production - but the Shale production has rebounded a bit .. think up to 11.5 .. still way below the 13 mbpd high... yet .. The price has increased.. This increase having nothing to do with the short term pill that El Saud/Russia forced Carrot Top to swallow ... Nothing .. Zero .. Nada .. and this was all political grand standing for the home audience .. as Russia/El Saud were happy to decrease production to get the price higher .. now that the US had decreased production and was not continuing to increase year after year by ridiculous amounts.

NO ONE is holding back production right now - we are in an energy crisis ... due to other factors which reduced supply ..along with a continually increasing demand ..

 

supply was reduced, and now that demand is back up, prices have gone up

 

Supply was reduced by the US - 3 million bpd .. Russia/Opec reduced by ~ 2 -3 for a short time - after the damage was done -and then resumed - while the US did not .. only recently adding 1 million back .. demand has gone up surprisingly .. covid didn't dent demand that much .. and things coming back on line seem to have increased demand coupled with decreased supply from other covid related factors - but also a general lack of prospecting and drilling for new supply over the last 10 years

Almost nothing to do with Trumps little debacle though .. re-read my post as that is what you should be hammering him for .. the boneheaded political gamesmanship... chasing after a ship that has already been sunk .. Trump having a hand in sinking it due to reckless behavoir.

 

post links

 

https://www.macrotrends.net/2564/saudi-arabia-crude-oil-production-chart

 

that is a huge drop after Trump told them to reduce supply, thanks for that

 

Yes .. a short term decrease just as I told you .. one that has nohting to do with the current price.

 

it does have an impact on what is happening, as well as our shipping problem, many things all coming together at once with the pandemic

 

The US decrease in production has an impact because it is still lower .. Saudi/Russia production has not decreased so it does not.

 

the biggest impact is lack of cheap foreign oil, American oil costs more, as you now see

 

There are many impacts - lack of cheap foreign oil would be one ... "American Crude" costs less - not more.

 

does it, nope

 

I encourage you to get back on the topic of the 5 more expensive items mentioned in the OP. All since we have full Democrat control

Democrat votes financially hurt everyone

 

always have been, were talking about the COLA, which is used to counter the cost of living increases, it's not a raise