@WhartoniteWG@Nostre_damus@LarryHouzewerks We sell REFINED OIL to other countries
We import CRUDE OIL to other countries
The whole shtick of the US economy is to buy cheap input goods & turn them into manufactured products for a higher price.
@Rickautry2@TheMoneyApe@drdileepjnu “WE DONT NEED OIL”
-US consumed about 20.59 mil barrels/day 2025
“WE have oil flowing like water right now”
-US produced about 13.6 mil crude barrels/day 2025
US is a net importer to meet demand.
Stop falling for colorful and hyperbolic language of trump, fox, etc
@finlitOC@giveashitnature You’re focused on direct costs and not savings from externalities like damage to live stock and hospitalizations from increased aggressive animal encounters.
“This should cost no more than $1K a year” based on what? A figure from your ass?
@JustPolitics11@RalRiptide@FoxNews “And what war was Biden fighting to cause high gas prices? That would be none. He caused higher prices by creating price inflation”
You just accused Biden for his prices. I pointed out that it came for trumps stimulus and global supply shocks not tied to his policy.
@JustPolitics11@RalRiptide@FoxNews Yea it’s a cost estimate but if you put in the direct costs of it over the immediate 2022 period it has little to no effect on inflation relative to the stimulus and supply shock of that time. Also quantitative tightening occurred over that time.
@JustPolitics11@RalRiptide@FoxNews Saying your opinion is educated doesn’t make it educated
“He caused higher price” [premise]
“by creating price inflation” [accusation]
Proving a premise with an accusation?
Drivers of US high prices was trumps stimulus and major supply chain disruptions world wide
@JustPolitics11@RalRiptide@FoxNews Moreover the direct costs of around 50 bil which is negated by the revenue generated is spread over 2022-2031 STARTING 2022 when inflation started to dive.
Compare 2020 trumps cares act which costs 2.2T with 300billion in direct payments which is highly inflationary.
@JustPolitics11@RalRiptide@FoxNews So you linked a balanced sheet of the law without elaborating?
According to the CBO data you provided 117-169 creates a net decrease of deficit over 2022-2031 mainly funded through corporate taxes which is deflationary by nature.
@JustPolitics11@RalRiptide@FoxNews “majority of inflation was due to the oxymoron legislation called the Inflation Reduction Act.”
“And the act became public law in’ 22”
Okay what happened between 2020-2022
And what happened 2022 onwards 🤣
@JustPolitics11@RalRiptide@FoxNews “He caused higher prices by creating price inflation”
What kind of sentence is that?
Inflation during his presidency was due to covid and was experienced world wide. US had the fastest recovery.