jusplay4fun wrote:
Thank God someone like Sen Joe Manchin of W. VA understands ECONOMICS
He doesn't have a clue, and neither do you.
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jusplay4fun wrote:
Thank God someone like Sen Joe Manchin of W. VA understands ECONOMICS
Dukasaur wrote:jusplay4fun wrote:
Thank God someone like Sen Joe Manchin of W. VA understands ECONOMICS
He doesn't have a clue, and neither do you.
jusplay4fun wrote:
I have posted much since your last and few posts on this matter.
Dukasaur wrote:jusplay4fun wrote:
I have posted much since your last and few posts on this matter.
Quantity doesn't make up for lack of quality. Regurgitating the same old rote phrases without comprehending them does not make you a savant.
Russia's central bank also will reduce its dollar holdings, he added, but he did not specify by how much.
“The de-dollarization process is… taking place not only in our country, but also in many countries around the world, which have begun to experience concerns about the reliability of the main reserve currency,” Kremlin spokesman Dmitry Peskov said in 27 May comments quoted by the Financial Times.
RaulR wrote:Thank you for post
saxitoxin wrote:Serbia is a RUDE DUDE
may not be a PRUDE, but he's gotta 'TUDE
might not be LEWD, but he's gonna get BOOED
RUDE
Serbia wrote:RaulR wrote:Thank you for post
Nice post
jusplay4fun wrote:The price of oil (petroleum) and all derived products is most sensitive to geopolitical events; gasoline/petrol seems the one that hits us most clearly and deeply. The price of a standard barrel of oil (West Texas "sweet" at one time) is a key and often quoted commodity price for a long time.
Assuming no significant and immediate impact (i.e., the War in Ukraine does not go beyond the borders of Ukraine), I do not see a major shake up of the normal and expected trends for the price of oil. Of course, there may be something unexpected (e.g., disruption in Venezuela or Mexico that hit the oil supply; one of the OPEC nations decides to do something unusual, and many more scenarios).
The overall trend is to try to decrease our dependence on fossil fuels. Those efforts will cause some increases in oil prices as less effort is put into 1) finding new sources and 2) constructions for new/upgraded refineries and shipping (such as pipelines).
The immediate demand for oil will not decrease significantly. The world-wide COVID shut down and economic declines are a very unusual event and was not expected before 2020. Much of the recent increase in oil (and car) prices is impacted greatly as the world economies re-engage. There will be a partial decline in gasoline price pressures as many are now working from home and will continue to do so and NOT commute to work. But the switch to summer blends of gasoline in the USA will and is happening. Summer travel will resume. These are all expected events.
The increase of gasoline prices in the USA is painful, Biden is getting the blame, BUT the increase is not unexpected. Those who cannot think much beyond their noses will simply blame Biden, the guy they see as "in charge." As I said elsewhere, the US President gets too much blame for things that go wrong in economic matters and too much credit when things go well.
Dukasaur wrote: That was the night I broke into St. Mike's Cathedral and shat on the Archibishop's desk
mookiemcgee wrote:jusplay4fun wrote:The price of oil (petroleum) and all derived products is most sensitive to geopolitical events; gasoline/petrol seems the one that hits us most clearly and deeply. The price of a standard barrel of oil (West Texas "sweet" at one time) is a key and often quoted commodity price for a long time.
Assuming no significant and immediate impact (i.e., the War in Ukraine does not go beyond the borders of Ukraine), I do not see a major shake up of the normal and expected trends for the price of oil. Of course, there may be something unexpected (e.g., disruption in Venezuela or Mexico that hit the oil supply; one of the OPEC nations decides to do something unusual, and many more scenarios).
The overall trend is to try to decrease our dependence on fossil fuels. Those efforts will cause some increases in oil prices as less effort is put into 1) finding new sources and 2) constructions for new/upgraded refineries and shipping (such as pipelines).
The immediate demand for oil will not decrease significantly. The world-wide COVID shut down and economic declines are a very unusual event and was not expected before 2020. Much of the recent increase in oil (and car) prices is impacted greatly as the world economies re-engage. There will be a partial decline in gasoline price pressures as many are now working from home and will continue to do so and NOT commute to work. But the switch to summer blends of gasoline in the USA will and is happening. Summer travel will resume. These are all expected events.
The increase of gasoline prices in the USA is painful, Biden is getting the blame, BUT the increase is not unexpected. Those who cannot think much beyond their noses will simply blame Biden, the guy they see as "in charge." As I said elsewhere, the US President gets too much blame for things that go wrong in economic matters and too much credit when things go well.
HitRed wrote:Texas produces 43% of the oil in the USA.
$128.00 a barrel
JdeV 100 wrote:I bought some crypto on PayPal, two different currencies, with fees on top, but what I received was several percent less than I paid for, and they do not offer records of the values purchased. The initial purchase could have been simpler but hadn't taken so long to complete that a huge swing accounts for it. In any case it lost some value and rose again and is nearly where it was - but anticipating the same again I would now need value to rise further to forestall a loss. It is less than a grand but I was a bit too casual about it - anyway if you're like me and didn't want a new crypto wallet, I can't recommend PayPal - record your screen if you do. PayPal promised a response, a few days ago, so maybe I'll be able to report a resolution. Feels doubtful.
Dukasaur wrote: That was the night I broke into St. Mike's Cathedral and shat on the Archibishop's desk
Raskin withdraws as Biden’s Fed nominee
Sarah Bloom Raskin had been stuck in the Senate Banking Committee amid a GOP boycott of a committee vote on her nomination.
By KATE DAVIDSON
03/15/2022 03:16 PM EDT
Updated: 03/15/2022 06:50 PM EDT
Sarah Bloom Raskin has withdrawn as President Joe Biden’s pick to be the Federal Reserve’s top Wall Street watchdog amid a clash over her climate views, ending a monthlong standoff that held up a slate of Fed nominees.
Biden, in a statement Tuesday, said Raskin “was subject to baseless attacks from industry and conservative interest groups” and noted the broad support for her nomination from former central bank officials, consumer advocates, economists and the financial industry.
Raskin, whom the president tapped to be the Fed’s vice chair for supervision, faced fierce resistance from the oil and gas industry over her position on how the central bank should do more to help tackle climate change. Her nomination had been stuck in the Senate Banking Committee after a GOP boycott of a vote, effectively blocking her confirmation from advancing to the floor of the chamber.
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