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I'm sorry but the Russia invasion of Ukraine and related sanctions aren't what have been driving inflation or gas price hikes, at least in the US. It's poor dom

I'm sorry but the Russia invasion of Ukraine and related sanctions aren't what have been driving inflation or gas price hikes, at least in the US. It's poor domestic policies being blame shifted to Putin. We're finally feeling the inflation from global lockdowns and gas prices have been steadily increasing since 2020, before Putin's invasion. These issues are not going to be short term either, as the current administration is celebrating the increased prices as a means of accelerating a transition to green energy, all while having no plan to really implement more green energy via increased nuclear capacity. So we have an administration that is unwilling to increase gas production and can't get an audience with OPEC to increase imports. Just be ready for the shock this fall when meat prices skyrocket. As Union Pacific has been restricting fertilizer shipments specifically during the critical planting season, and farming is highly dependent on Diesel usage. But at least we're subsidizing more ethanol in our gas...a less efficient fuel source than.. actual gas. In summation, my pessimism is off the charts. What we are going to see is going to destroy large parts of the middle class, poor people, especially children in America(doubly so for less wealthy countries that depend on America's economy) will starve, and any tech industries targeting middle class consumers are going to shrink. I sincerely hope I'm wrong, and I welcome any perspectives that alleviate this pessimism. https://www.freightwaves.com/news/fertilizer-maker-faults-union-pacifics-plan-to-reduce-congestion https://www.freightwaves.com/news/fertilizer-maker-faults-un... “[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden said during a press conference in Japan following his meeting with Prime Minister Fumio Kishida.

kwertyoowiyop 4y ago
For a different perspective, stop reading the “doom and gloom” web sites and go outside. Or maybe just read their stories from five years ago, predicting crises that never happened. The world isn’t going to end. Things will turn out alright.
- mschuster91 4y ago
  I do get their point re/ tax base though. There is a ton of stuff to do: decades of deferred maintenance, resilience to climate change in existing infrastructure, building out new climate friendly infrastructure, prepare society for the inevitable job losses due to automation (e.g. trucking, warehouse jobs)... all of that will cost a lot of money over the next decades, the current administration doesn't have the political majority necessary to raise taxes, and it is highly likely that the Republicans and with them their constant "defund the big state" destructionism against public institutions will be in the political majority by end of this year and in Presidency in two years. The result will not be nice.
  - kwertyoowiyop 4y ago
    There will certainly be big problems to deal with, and terrible events. I grew up in the 1970s with headlines dominated by wars in the Middle East and many other places, terrorism, inflation, the threat of nuclear war, apocalyptic cults, ‘malaise’ and cynicism, pollution, violent crime, political corruption…and basically everything you mentioned too. With all that, things worked out OK.
    - WillPostForFood 4y ago
      It worked out, but just took like ten full years of pain.
    - yonaguska 4y ago
      I do appreciate hearing that. My parents aren't as worried as I am either, but they've also turned their backyard into a very large garden just in case. They also lean heavily on religion as a means of assurance, which I find less comforting.
    - mschuster91 4y ago
      > With all that, things worked out OK. Yes they did, because politicians did their jobs. CFCs and lead were banned, pollution was beginning to be regulated by the EPA and European counterparts, there were a number of de-armament agreements worldwide, and actions were taken to combat crime and corruption. Additionally, just look at the aftermath of neoliberalism and privatization waves of the 90s or the 2008ff financial crises: millions of people lost their jobs, many millions who graduated right during these times have lower economic prospects for large parts of their life [1]. For them, nothing worked out OK. And these days? US Congress has been gridlocked since Obama and McConnell's obstructionism, and here in Europe Russia has invested many millions into propping up far-right obstructionist forces as well. We can't get anything done anymore. [1] https://siepr.stanford.edu/publications/policy-brief/recession-graduates-long-lasting-effects-unlucky-draw https://siepr.stanford.edu/publications/policy-brief/recessi...
gamblor956 4y ago
If you stopped reading doom and gloom websites (or Fox News) you would know that OPEC is unwilling to increase production because they like high gas prices and want to maximize their oil income while they still can while the West shifts to EVs. It's a self-perpetuating cycle: the high prices drive increased demand for EV alternatives, which leads to higher gas prices so that OPEC members can maintain their revenues. Also, we could double our oil extraction each year and that wouldn't make a meaningful dent in gas prices, and it might even increase prices even more, because domestic oil is expensive to extract in the U.S.; the cheap and easy fields were tapped out decades ago. Indeed, part of the oil crash a few years ago was the result of OPEC increasing production, which lowered oil prices below the point it was profitable to extract from most U.S. and Canadian sources.

kwertyoowiyop 4y ago

For a different perspective, stop reading the “doom and gloom” web sites and go outside. Or maybe just read their stories from five years ago, predicting crises that never happened. The world isn’t going to end. Things will turn out alright.

mschuster91 4y ago
I do get their point re/ tax base though. There is a ton of stuff to do: decades of deferred maintenance, resilience to climate change in existing infrastructure, building out new climate friendly infrastructure, prepare society for the inevitable job losses due to automation (e.g. trucking, warehouse jobs)... all of that will cost a lot of money over the next decades, the current administration doesn't have the political majority necessary to raise taxes, and it is highly likely that the Republicans and with them their constant "defund the big state" destructionism against public institutions will be in the political majority by end of this year and in Presidency in two years. The result will not be nice.
- kwertyoowiyop 4y ago
  There will certainly be big problems to deal with, and terrible events. I grew up in the 1970s with headlines dominated by wars in the Middle East and many other places, terrorism, inflation, the threat of nuclear war, apocalyptic cults, ‘malaise’ and cynicism, pollution, violent crime, political corruption…and basically everything you mentioned too. With all that, things worked out OK.
  - WillPostForFood 4y ago
    It worked out, but just took like ten full years of pain.
  - yonaguska 4y ago
    I do appreciate hearing that. My parents aren't as worried as I am either, but they've also turned their backyard into a very large garden just in case. They also lean heavily on religion as a means of assurance, which I find less comforting.
  - mschuster91 4y ago
    > With all that, things worked out OK. Yes they did, because politicians did their jobs. CFCs and lead were banned, pollution was beginning to be regulated by the EPA and European counterparts, there were a number of de-armament agreements worldwide, and actions were taken to combat crime and corruption. Additionally, just look at the aftermath of neoliberalism and privatization waves of the 90s or the 2008ff financial crises: millions of people lost their jobs, many millions who graduated right during these times have lower economic prospects for large parts of their life [1]. For them, nothing worked out OK. And these days? US Congress has been gridlocked since Obama and McConnell's obstructionism, and here in Europe Russia has invested many millions into propping up far-right obstructionist forces as well. We can't get anything done anymore. [1] https://siepr.stanford.edu/publications/policy-brief/recession-graduates-long-lasting-effects-unlucky-draw https://siepr.stanford.edu/publications/policy-brief/recessi...

gamblor956 4y ago

If you stopped reading doom and gloom websites (or Fox News) you would know that OPEC is unwilling to increase production because they like high gas prices and want to maximize their oil income while they still can while the West shifts to EVs. It's a self-perpetuating cycle: the high prices drive increased demand for EV alternatives, which leads to higher gas prices so that OPEC members can maintain their revenues. Also, we could double our oil extraction each year and that wouldn't make a meaningful dent in gas prices, and it might even increase prices even more, because domestic oil is expensive to extract in the U.S.; the cheap and easy fields were tapped out decades ago. Indeed, part of the oil crash a few years ago was the result of OPEC increasing production, which lowered oil prices below the point it was profitable to extract from most U.S. and Canadian sources.