Biden's Economy?

[ajax18]

For the most part, market forces. The US is producing crude at its highest ever rates, even higher than during the previous Administration.

Does that upset you given the urgency of the climate change crisis?

[canpakes]

For the most part, market forces. The US is producing crude at its highest ever rates, even higher than during the previous Administration.

Does that upset you given the urgency of the climate change crisis?

No. Because market forces will also likely push alternative energy sources forward as well.

This nation is producing crude at record levels, yet gas prices still make you unhappy. What do you think the situation will be like a decade from now?

[ajax18]

No. Because market forces will also likely push alternative energy sources forward as well.

Market forces are definitely not pushing alternative energy sources forward, at least not for midwest American auto factory workers. To his credit, Biden is not tone deaf on this. He's very good at getting himself elected, even with what little is left of his senile central nervous system. He knows that high gas prices could take him down, even lead to Hunter's imprisonment if Republicans were to take power and redo the Department of Justice in nonpolitically partisan or even partisan Republican manner. It seems that he realized his mistake in shutting down Keystone and did start allowing more drilling and fracking. To his credit we're producing more oil and gas again in spite of the criticism he's getting from his left flank for doing so. Perhaps democracy is working to an extent on this issue as people learn the real cost of green energy. To me it's still a day late and a trillion dollars short.


The EV Market Is Failing And Biden Is To Blame

President Joe Biden’s forceful stance on his green energy agenda is wreaking havoc on major vehicle manufacturers.

General Motors (GM) announced it will no longer be manufacturing the several hundred thousand electric vehicles (EVs) it originally planned to roll off the line by 2024.

GM execs have admitted the delay of launching the Chevrolet Equinox EV, the Chevrolet Silverado EV RST, and the GMC Sierra EV Denali, along with a major recall of Chevy Bolts.

“The American public is not ready for the broad adoption of electric vehicles. There are maybe 10 percent to 12 percent of people who really want an electric vehicle … the remainder still want internal combustion,” previous GM executive Bob Lutz stated.
Auto workers and union members are furious with the Biden administration for offering huge subsidies to push auto companies toward creating electric vehicles.

As a result, many workers are losing their jobs or facing significant cutbacks. Critics say Biden’s “green energy agenda” is ultimately outsourcing their jobs to China.

Trump responded to the situation by saying, “The auto workers will not have any jobs because all of these cars are going to be made in China. The electric cars, automatically, are going to be made in China.”

“The auto workers are being sold down the river by their leadership, and their leadership should endorse Trump,” Trump continued.

“I think he’s not doing a good job in representing his union,” Trump said about the UAW president. “Because he’s not going to have a union in three years from now. Those jobs are all going to be gone, because all of those electric cars are going to be made in China. That’s what’s happening.”

Stellantis employee and UAW member Kym Dieselberg revealed that she would never vote for President Joe Biden again.

“We have Biden who won’t even pick a side. And I think today they said he did say that we do need it, which is nice for him to finally say something. But it is disheartening, because I voted for him and it breaks my heart,” she added.

News correspondent Leland Vittert asked, “Would you vote for him again?”

Dieselberg answered, “No. I would not. Because when you make a promise and you say you’re something and you don’t come through — that’s why don’t like politics, because politicians — I hate to say it, but if someone was just honest, I think someone would get voted in.”

https://www.analyzingamerica.org/2023/11/708169/

[Gadianton]

One of the dumbest articles I've ever read. No wonder Ajax didn't provide a link this time.

[Doctor Steuss]

Moody’s Investors Service lowered the United States outlook from stable to negative on Friday, citing polarization and deficit spending.

“Moody’s Investors Service on Friday lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength,”

Gee, who could have ever seen a certain caucus' petulance, and short-sighted tantrums, as having consequences? Of course, this is ultimately Obama's Hillary's Biden's fault, because, reasons.

[Res Ipsa]

One of the dumbest articles I've ever read. No wonder Ajax didn't provide a link this time.

https://www.analyzingamerica.org/2023/11/708169/

Not even up to Breitbart's minimal journalistic standards.

The article is a bunch of stitched together snippets that never get around to supporting the headline.

[canpakes]

… Biden Is To Blame ..!!1!

“The American public is not ready for the broad adoption of electric vehicles. There are maybe 10 percent to 12 percent of people who really want an electric vehicle … the remainder still want internal combustion,” …

Have we stopped selling new internal combustion vehicles in this country? Is there a program that’s been mandated, to crush up all of the used ones?

Trump responded to the situation by saying, “The auto workers will not have any jobs because all of these cars are going to be made in China. The electric cars, automatically, are going to be made in China.”

Wait. So, all of the electric cars that Americans don’t want will be made by China, and sold to … who? The Americans who don’t want them?

And how is this ‘Biden’s fault!!’, again?

[Gadianton]

The article is a bunch of stitched together snippets that never get around to supporting the headline.

That's all it probably is, written with a screen-scraper.

[Res Ipsa]

… Biden Is To Blame ..!!1!

“The American public is not ready for the broad adoption of electric vehicles. There are maybe 10 percent to 12 percent of people who really want an electric vehicle … the remainder still want internal combustion,” …

Have we stopped selling new internal combustion vehicles in this country? Is there a program that’s been mandated to crush up all of the used ones?

Trump responded to the situation by saying, “The auto workers will not have any jobs because all of these cars are going to be made in China. The electric cars, automatically, are going to be made in China.”

Wait. So, all of the electric cars that Americans don’t want will be made by China, and sold to … who? The Americans who don’t want them?

And how is this ‘Biden’s fault!!’, again?

If Ajax would take the time to learn a few principles from a basic economics course, he wouldn't post this kind of gibberish. After passage of the IRA, U.S. automakers made some pretty ambitious plans for transitioning to electric vehicles. This kind of transition involves capital expenditures (both for companies and consumers). I'd be surprised if those plans included the Fed's interest rate hikes, which make the capital cost of the transition (retooling existing plants or building new ones) much more expensive. They also make the cost of purchasing any new vehicle much more expensive, which drives down demand for all autos. On top of that, I doubt the U.S. automakers were able to accurately forecast how the strike would play out, which has both short-term and long-term effects on their financial ability to make the transition.

So, it's no surprise that U.S. automakers are slowing down the rate that they are transitioning from ICE vehicles to EV.

Meanwhile, the petroleum and climate denial industries are pumping out anti-EV propaganda like crazy to scare Americans away from buying EVs. And the conservative and MAGA politicians have done everything in their power to prop up and subsidize the petroleum industry, which is being outcompeted in price by clean energy. These are the same people that prevented us from starting a gradual transition away from fossil fuels 30 years ago. If there's one thing I've consistently preached on the issue of climate change, it's this: the longer we wait to make the transition, the more disruptive the transition will be. And U.S. automakers scaling back on the speed of their industry's transition to EVs isn't going to be the worst disruption -- not by a long shot. So, when Ajax is unhappy about high gas prices or EVs, he only need look in the mirror to find the person who is to blame.

Also, Ajax seems to forget that the producers of U.S. oil are price takers, not price makers. The worldwide price of oil has continued to stay high since early 2022. Those higher prices are what has brought U.S. producers back into the market of producing higher cost shale oil and gas. All OPEC has to do to make that production unprofitable is to turn on the taps again.

[canpakes]

Also, Ajax seems to forget that the producers of U.S. oil are price takers, not price makers. The worldwide price of oil has continued to stay high since early 2022. Those higher prices are what has brought U.S. producers back into the market of producing higher cost shale oil and gas. All OPEC has to do to make that production unprofitable is to turn on the taps again.

Oh, sure, Res. Nice story. But, we all know that Hunter Biden has something to do with why gas prices are so high.

Just wait until Trump is back in office. He’ll make the price of gas drop to under a buck a gallon just because producers will be sooo happy to have him back that they’ll sell every drop of crude that they can pump out of the ground at a significant loss.