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> "There are very few tools the US administration has because the biggest drivers for gasoline prices are driven by global fundamentals" More "disinformation"
by hiram112 4y ago
> "There are very few tools the US administration has because the biggest drivers for gasoline prices are driven by global fundamentals"
More "disinformation" being peddled to excuse this administration of the high prices they've caused. If anything, Putin has probably increased production and been forced to give discounts to entice countries like India to go against the US sanctions, so blaming the Russian conflict is ridiculous.
There is probably no other good or service in the world more sensitive to global politics than petroleum. The whole "gas lines and stagflation from the 70's" that we're reminded of were absolutely due to our political support of Israel and against most of the Arab block - very little was based on supply and demand.
Likewise, other mass price increases were almost entirely due to either military conflicts or currency issues caused by central banks.
If this administration just came out and said, "Listen - we think fossil fuels are a losing bet. We're gonna make it as painful as possible for our citizens to continue to use them. Lube up, but it's for our own good." then I'd at least respect them, even if I don't agree with the policies.
But I'm not even sure that's what's happening. What I think is that it's just massive mismangement, an uncoordinated and ad-hoc set of policies being pushed by dozens of different actors, causing price increases. And the administration is just flailing around throwing out false narratives and talking points that their hacks in the media regurgitate to the public.
I'm afraid there is no competent technocratic "elite" easing us into a sustainable future where we're all driving Teslas with a nuke-powered charging grid as ubiquitous as gas stations are today. Instead, we're gonna end up with rolling brown-outs, $1500 domestic airline tickets, severely reduced mobility, etc. It's a disaster, IMO.
- wbsss4412 4y agoHow is that disinformation? The quote says nothing about Russia, and the oil market is indeed driven by global forces.
- Bud 4y agoThis isn't disinformation, and contrary to your comment, the Biden administration actually HAS come out to say that fossil fuels are a losing bet. That's why Biden made it such a huge priority in his platform to build sustainable, renewable energy capacity. And the public voted for it. And then Republicans blocked it completely. So I think you need to get your basic facts straight. BTW, Israel has nothing—absolutely nothing—to do with this. Not sure where you got that crazy idea, but it's time to move on from it.
- hiram112 4y ago> BTW, Israel has nothing—absolutely nothing—to do with this. Not sure where you got that crazy idea, but it's time to move on from it. I mentioned Israel because our support of them during various Arab-Israeli conflicts in the 1970s was what led to price hikes, lines at gas stations, etc. This is in direct contradiction to the typical talking point that is currently being trotted out by those wishing to deflect blame on the administration for current price issues, asserting that it's all about "supply and demand." Which is clearly false - like I mentioned, oil prices are absolutely influenced by international politics, and in fact, it'd be hard to find a product less influenced by politics than crude oil.