Core Inflation Rate Highest Since 1981

#179
#179
ClearwaterVol said:
It’s almost like you’re realizing that the US doesn’t control world markets.

What should we have done with those barrels to best serve US taxpayers?
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This entire conversation has gone right over your head. You made the statement that by law the US had to sell its reserves into the World market which is completely ludicrous. The next ludicrous statement is that infusing 1 million barrels into the World market effected the price in the US by any appreciable measurement. Major oil producing nations are not under the same market conditions as oil dependent nations no matter how much the Left wants to push that idea any more than major grain or cattle producing nations. The US government and its policies created this issue not market factors out of their control.
 
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#180
#180
ClearwaterVol said:
It’s almost like you’re realizing that the US doesn’t control world markets.

What should we have done with those barrels to best serve US taxpayers?
Click to expand...

Given them back to the US tax payer in the US market at cost, it isn’t difficult. Or are you suggesting tax payer purchased oil should be sold back to US consumers at twice the price they have already paid? Don’t throw out the laws of supply and demand because the law of supply and demand is irrelevant in this situation because this isn’t a free market scenario. The free market doesn’t dictate government purchases
 
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#181
#181
landscapingvol said:
Given them back to the US tax payer in the US market at cost, it isn’t difficult. Or are you suggesting tax payer purchased oil should be sold back to US consumers at twice the price they have already paid? Don’t throw out the laws of supply and demand because the law of supply and demand is irrelevant in this situation because this isn’t a free market scenario. The free market doesn’t dictate government purchases
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You're acting like an arrogant prick, so I am going to treat you like one. How does one sell oil to the American tax payer at cost? Last I checked the government owned no oil refineries. Are you suggesting they force private enterprises to refine oil and sell it at less than market rates? The oil refineries are refining nearly 20 million barrels of oil per day. Is your contention that what would take an hour and a half to refine would have a significant effect on prices at the pump? If so, it would be an extremely temporary condition would simply create a rush on gas stations to take advantage of the situation. Which oil refining company would you force this upon?

Here's the rub, boy wonder... when the US sells an asset it is required to sell it for the best price possible. So, they put the oil on the auction block and companies bid on it. In this case, a chinese company out bid various other companies including american companies. The oil market operates on a global level and even if an American company had won the auction the effect on prices would be the same. Releasing a million barrels of oil was a piss poor way to show any sort of relief at the pump for Americans. This gesture amounted to about 1% of one day's oil production.
 
#182
#182
ClearwaterVol said:
You're acting like an arrogant prick, so I am going to treat you like one. How does one sell oil to the American tax payer at cost? Last I checked the government owned no oil refineries. Are you suggesting they force private enterprises to refine oil and sell it at less than market rates? The oil refineries are refining nearly 20 million barrels of oil per day. Is your contention that what would take an hour and a half to refine would have a significant effect on prices at the pump? If so, it would be an extremely temporary condition would simply create a rush on gas stations to take advantage of the situation. Which oil refining company would you force this upon?

Here's the rub, boy wonder... when the US sells an asset it is required to sell it for the best price possible. So, they put the oil on the auction block and companies bid on it. In this case, a chinese company out bid various other companies including american companies. The oil market operates on a global level and even if an American company had won the auction the effect on prices would be the same. Releasing a million barrels of oil was a piss poor way to show any sort of relief at the pump for Americans. This gesture amounted to about 1% of one day's oil production.
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You seem incapable of understanding the basic concept that the US isn’t selling oil produced by the US government. It is selling oil already purchased by the American people so releasing it to oil refineries in the US and then supplying said refined gasoline to US consumers at cost plus refining expenses isn’t as difficult as you can want to portray it. You and I have a fundamental different understanding of supply and demand/free market. There is nothing free market about government subsidized oil and it isn’t held to the same invisible forces that guide a true free market. You and the Left want to pretend that oil is sold by free market laws. It isn’t. It’s the Joe Biden is helpless argument to justify the exorbitant prices under his administration as well as the Carter administration. Oil is heavily subsidized across the globe in many OPEC nations like Saudi Arabia, UAE, etc., weird how the citizens of those nations benefit from government subsidies but US consumers can’t because we are magically beholden to the “invisible hand” even though US consumers purchased it?
 
#184
#184
landscapingvol said:
You seem incapable of understanding the basic concept that the US isn’t selling oil produced by the US government. It is selling oil already purchased by the American people so releasing it to oil refineries in the US and then supplying said refined gasoline to US consumers at cost plus refining expenses isn’t as difficult as you can want to portray it. You and I have a fundamental different understanding of supply and demand/free market. There is nothing free market about government subsidized oil and it isn’t held to the same invisible forces that guide a true free mark. You and the Left want to pretend that oil is sold by free market laws. It isn’t. It’s the Joe Biden is helpless argument to justify the exorbitant prices under his administration as well as the Carter administration. Oil is heavily subsidized across the globe in many OPEC nations like Saudi Arabia, UAE, etc., weird how the citizens of those nations benefit from government subsidies but US consumers can’t because we are magically beholden to the “invisible hand” even though US consumers purchased it?
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Anytime the US disposes of an asset it is required to do so at the best price attainable. Don't like it change the law.

free plus the cost to refine? What about lost opportunity cost?

What do you believe the net effect of 90 minutes (of refine time) of free oil going to be on the market?
 
#185
#185
ClearwaterVol said:
Anytime the US disposes of an asset it is required to do so at the best price attainable. Don't like it change the law.

free plus the cost to refine? What about lost opportunity cost?

What do you believe the net effect of 90 minutes (of refine time) of free oil going to be on the market?
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Nothing is free, it has already been purchased by the US taxpayer so if the US taxpayer paid $75 a barrel per se then it needs to sold back to the US taxpayer minus the $75 per barrel plus the cost of refining it. It isn't complicated and there is no law stating US strategic oil reserves have to be sold on the World market to the highest bidder. That is complete nonsense and doesn't pass any logical sense test even for our government. The only reason gas prices have even slightly dropped was due to reduced demand from high prices therefore temporarily increasing supply. That temporary dip has now faded because the dip increased demand and oil is now back over $104 per barrel. You decry the laws of the free market when there is no free market in any real heavily traded commodity. Every commodity traded on the World markets are either heavily subsidized or taxed by other countries including the US. Pretending the oil market is any different doesn't make it magically true, for example OPEC sets their own price for its member nations regardless of market factors. In a free market, the market would determine the price not a conglomerate of oil producing nations. Those decisions are based upon the needs and desires of its member nations not the invisible forces of a free market. The US chooses to be at the mercy of OPEC
 
#186
#186
The thing about fuel prices coming down some is that the government doesn't add fuel or food prices into its much ballyhoo'd core CPI, so oil and food could be free and inflation would still suck.
 
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#187
#187
landscapingvol said:
Nothing is free, it has already been purchased by the US taxpayer so if the US taxpayer paid $75 a barrel per se then it needs to sold back to the US taxpayer minus the $75 per barrel plus the cost of refining it. It isn't complicated and there is no law stating US strategic oil reserves have to be sold on the World market to the highest bidder. That is complete nonsense and doesn't pass any logical sense test even for our government. The only reason gas prices have even slightly dropped was due to reduced demand from high prices therefore temporarily increasing supply. That temporary dip has now faded because the dip increased demand and oil is now back over $104 per barrel. You decry the laws of the free market when there is no free market in any real heavily traded commodity. Every commodity traded on the World markets are either heavily subsidized or taxed by other countries including the US. Pretending the oil market is any different doesn't make it magically true, for example OPEC sets their own price for its member nations regardless of market factors. In a free market, the market would determine the price not a conglomerate of oil producing nations. Those decisions are based upon the needs and desires of its member nations not the invisible forces of a free market. The US chooses to be at the mercy of OPEC
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How would you go about distributing it? Force private companies to refine it at cost and gas station to distribute it for free? Would you hand out the vouchers for everyone to purchase their discounted gas so there weren't riots at the pumps?


BTW, your grand plan to redistribute directly to the people yields about about .07 gallons of gas per adult per million barrels of oil released.

Perhaps we could just direct mail the gas to the consumer in souvenir travel mugs.
 
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#188
#188
Can we all agree at this point that minimum wage is not needed? The main argument I used to see on here is "without minimum wage, people would make a penny an hour!". Now average starting wages are over double the minimum.
 
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#189
#189
landscapingvol said:
Nothing is free, it has already been purchased by the US taxpayer so if the US taxpayer paid $75 a barrel per se then it needs to sold back to the US taxpayer minus the $75 per barrel plus the cost of refining it. It isn't complicated and there is no law stating US strategic oil reserves have to be sold on the World market to the highest bidder. That is complete nonsense and doesn't pass any logical sense test even for our government. The only reason gas prices have even slightly dropped was due to reduced demand from high prices therefore temporarily increasing supply. That temporary dip has now faded because the dip increased demand and oil is now back over $104 per barrel. You decry the laws of the free market when there is no free market in any real heavily traded commodity. Every commodity traded on the World markets are either heavily subsidized or taxed by other countries including the US. Pretending the oil market is any different doesn't make it magically true, for example OPEC sets their own price for its member nations regardless of market factors. In a free market, the market would determine the price not a conglomerate of oil producing nations. Those decisions are based upon the needs and desires of its member nations not the invisible forces of a free market. The US chooses to be at the mercy of OPEC
Click to expand...

Ummm...what're you going to do with a barrel of refined oil?

When prices go up I thought it was because of "corporate greed"? So when prices go down, why is it do to demand? I thought the businesses all became magically less greedy.

Commodities traded on an open market is not a "free market"? I'm not following. Other countries subsidizing oil is a good thing. It means they're giving us discounted oil. Why would that be bad?

OPEC makes up a small minority of our oil. But if you oppose buying that oil from OPEC (understandable) the answer is to drill more here. But yes, the market determines OPEC prices. Supply and demand. Why do you believe otherwise?

I do find it hilarious though that you think Venezuela is doing it better than us (the country where they eat zoo animals).
 
#190
#190
Are we supposed to celebrate at least it ain't as bad as it was? But but it's just over 8% but it ain't 9%.


Sen. Haggerty slams Biden on inflation despite slowing for second straight month


In the 19 months since President Biden came into office, inflation has now risen by 13.2 percent, and our economy has officially entered a recession.

Sen. Haggerty slams Biden on inflation despite slowing for second straight month
 
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#192
#192
BreatheUT said:
Are we supposed to celebrate at least it ain't as bad as it was? But but it's just over 8% but it ain't 9%.


Sen. Haggerty slams Biden on inflation despite slowing for second straight month


In the 19 months since President Biden came into office, inflation has now risen by 13.2 percent, and our economy has officially entered a recession.

Sen. Haggerty slams Biden on inflation despite slowing for second straight month
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No you're supposed to shut up and be glad the kgb hasn't subpoenaed you.
 
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#197
#197
I picked up a roll at Tennessee Pride sausage at Kroger yesterday $5.99 for a roll that was $2.99 prior to the Biden presidency. They had it on sale $4.99 like they were offering a bargain.
 
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#200
#200
StarRaider said:
Swaggerty sausage is better IMHO and is a real TN family owned company.
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Meh, I used to get my sausage from a place in Littlelot, right outside of Centerville. Matter of fact, I think they start killing hogs around this time for sausage... or maybe around November for sure.
 
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