Every day, the Biden administration talks about how it wants to help the middle class - but this must not include the 7.5 million people that make their living from the energy industry.
Joe is a stubborn, addled old jerk who is unlikely to back off. He blew off oil execs to meet with wind execs. Granholm is an ESG true believer and moron who laughed out loud a rising gas prices last year.
That said, there are systemic issues now:
Increasing refining capacity is becoming a safety issue. Chevron is at 94% capacity and is short staff to push to 100% - a high risk on it's own for a complex process.
Russian energy going offline removes ~5M bbl/day from global markets in an energy short world
Putin controls the spigot for natgas to Germany. If he turns it off, the Eurozone risks collapse
Natgas is a key input for fertilizer, with has at least tripled in price and is short in supply. This affects crop yields worldwide. Russia/Ukraine provide significant supplies of potassium, potash and nitrogen to the world. Astonishingly, Africa wants to build a fertilizer plant to be more self sufficient but the EU says that violates their, you guessed it, ESG policy, so no investment.
The middle east, Africa, and others are reliant on Russia/Ukraine for grains, in some cases 100%. This risks famine in some parts of the world and shortages elsewhere. Russia/Ukraine grain exports make up ~12% of global calories.
As for ESG, even Blackrock is vowing to vote against any new climate proposals due to the ESG impact on profits. ESG has created mal-investment and only really benefits a cottage industry of bean counters to calculate a corporates "ESG Carbon Footprint" (such BS). Now the SEC wants ESG reporting as a requirement - a complete waste of time but good for "consultants" fees.
So, we'll see but looking at the G7, these people are idiots and zealous in the BS "climate change" ambitions.
I have come to the conclusion, that all environmentalist, ESG, and Any Green Parties in western countries, are nothing more than a DEATH CULT pretending to be a political party, indoctrinating everyone into their Ideology willing, or kicking and screaming.
We will ride this one to the scene of the crash, together 🤡 🌎🤦♂️
It would be helpful if the media would unite and ask the same questions until they are answered: how can it simultaneously be putins price hike yet US Oil’s responsibility to lower prices? Why hasn’t Putin raised prices more, why has he stopped here? If he keeps raising them should big Oil ultimately subsidize all energy costs ?
Chris, this is an incredible piece. Peace!
Yep, it will be a great day when Biden admits he was wrong and he will give up his strong beliefs that renewable energy will save whatever is left of the world.
Totally off topic, but Chris nailed it with Robinhood as a potential buyout target... Now will the price really be all that high? who knows...
Reminds of a great little cartoon illustration in global strategy textbook I used back in graduate school. Three CEO's in jail
CEO #1: Why are you here?
CEO#2: My prices were the same as my competitors so the government put me here for collusion
CEO#3:My prices were lower than my competitors so the government put me here for predatory pricing
CEO 2 and 3: You?
CEO#1:My prices were higher than my competitors so they got me for price gouching
Aside from that I can fully imagine this happening in some government building:
Official #1: Let's just tell people they can't work and lock them up at home
Official #2: But what about rent and paychecks?
Official #1: Print the money
Official #2: But if people don't work and produce less stuff while we print money to pay for stuff does that not increase the price of stuff? So when the price of stuff goes up is that not our fault?
Official #1: I think we found our mole...security!
In the last stages of Godlessness, leadership enters a state of true depravity destroying every good thing.
Until there is nothing good remaining <-- you are approaching this soon
I think this is all "too stupid to be stupid." The left is ignoring facts (as usual) because they are responding to other incentives. And what are those? Well, the longterm result over the last fifty or sixty years is development of a very rich class and a class of peasants. If that's what they keep doing, that's what they want, whether or not they recognize it consciously. We all respond to incentives of which we are unaware. This will help move toward their goal.
Great article, thank you!
Our biggest problem is our system is corrupted. It’s like having a hacked computer with a virus. The other problems are just programs running on a broken system. None of them matter until we fix the corruption. We need to fix the system FIRST. But how do we do that peacefully and with the best outcome for the future of everyone?
Come on man, let's also just say it about the real truth of the matter. This is not a case of "left hand not knowing what the right is doing", this is a conflagration. It is no secret that covid was used to further the green retarded deal agenda. This has been said openly.
It was the corona hoax restrictions, lockdowns, and bail outs that got us here. Period. They know this -- that is exactly what they were trying to do. This is no accident.
Even the release of the reserves is just a furtherance of their idiotic plot to run the world with unicorn farts and fairy dust. They know exactly why we're here and are doing everything they can to stall, feint, obfuscate and JUST LIE about it, in order to further their agenda.
THEY KNOW their time is limited and they know people have had it with this shit. That is exactly why they're trying as hard as they can to get as much of their destruction accomplished as they can.
YOU know this... QOTR.
This idiocy will go on; you can lead a wokester towards reality and logic, but you can’t make them pull their head out of their ass, open their eyes, go through de-cult un-brainwashing to rid the ridiculous wokester mind garbage in their heads and then finally, for once, think calmly, rationally, logically with a strong grounding in reality.
There are clowns at the helm. It’ll be a pleasure to see them go.
If Biden pulled his head out of his ass his Demented view of ALL reality would not change.
Tucker Carlson had a piece on the dope pills he is being given to keep him upright and talking.
The videos of him turning to shake hands with no one there is indicative of his mental degeneration.
GOP sissies need to impeach him and Kamala as getting rid of Biden would just get the OTHER poor fool of the V.P.
The damage they are doing to the country really must be stopped.
The Obama installed staff around Biden pushing all the LGBT hires and appointments is NOT a coincidence. Up front example is the press secretary who got the job for her qualifications of being female, black, and gay with ZERO experience or skills.
How should we approach investing in BRICS? How do we take advantage of this rising bloc? Please do a post. I think this is where the growth will occur and am a little ignorant.