Schumer urges Biden to take skyrocketing gasoline prices seriously: 'We need immediate relief'

HARK! said:

Senate Majority Leader Charles E. Schumer is demanding that President Biden take unilateral action to lower gasoline prices, warning the White House is not taking seriously enough the consumer angst when filling up.

Schumer urges Biden to take skyrocketing gasoline prices seriously: ‘We need immediate relief’

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You know, they need to know this must be a "transition", etc, and they would be wise to make it a smooth one, etc...

And, no offense, I can't believe some of these nincompoops, with almost no brains it seems, not knowing how much the cost of gasoline affects the cost of almost everything else... I thought almost everybody knew that, and it was just a well known fact, etc...

I listened to a guy today who said that inflation was a secret tax, and the government profits and makes money off of it, etc, they can fund certain things with it, etc...? So are they then doing this in purpose...? Or what...?

This transition may need to happen, but it is the governments job to make sure the transition is as smooth as it can possibly be, etc...

And so, they need to do that, etc...

God Bless!

"inflation is a secret tax" is the rhetoric of the monied class, who typically live off investments and corporate profits rather than personal labor income. In reality, wages are going up for ordinary workers.

FireDragon76 said:

"inflation is a secret tax" is the rhetoric of the monied class, who typically live off investments and corporate profits rather than personal labor income. In reality, wages are going up for ordinary workers.

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Well, when gas goes up, everything else goes up... And gas going up is not the only thing contributing to this and/or happening right now (inflation right now), and if they don't get it under control, it could get out of control, and run rampant very much faster than anyone thinks, and all but tank and/or crash our economy completely, and again, much quicker than anyone really thinks it can or commonly thinks, etc...

But, anyway, gas prices is one way they can have some measure of control over the situation, etc...

I cannot believe some on the left are actually talking about being out for blood and being all about just only bankrupting the fuel and oil and gas companies right now and right away only!!! It's "insane"! I mean, what are they smoking? And are they really that stupid...? Because if they really are that stupid, then we are in trouble, big trouble...

It's a transition that needs to be done over time and be as smooth as at all possible, and that's it, etc...

God Bless!

HARK! said:

Senate Majority Leader Charles E. Schumer is demanding that President Biden take unilateral action to lower gasoline prices, warning the White House is not taking seriously enough the consumer angst when filling up.

Schumer urges Biden to take skyrocketing gasoline prices seriously: ‘We need immediate relief’

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Biden placed a ban on new oil and gas drilling permits on Federal lands in an effort to slow global warming. 25% of U.S. oil comes from Federal lands. Now drivers are upset with the cost of filling up a large SUV at the pump.

China began switching to electric cars and buses. Electric buses are great in their big cities as they do not spew toxic exhaust fumes. There were not enough windmills and solar panels to recharge the electric vehicles. Now there are power shortages as China approaches winter. China is planning to build dozens of coal burning electric power plants. The price of liquid natural gas surged as people tried to switch to lower carbon LNG. Coal is cheaper than natural gas in some areas. India also needs more coal power plants.

I for one wish we didn't have such a reliance on the car. There are not many good bike paths or lanes (mostly painted gutter lanes) or buses through my suburb, the population density and tax base are too low.

I wonder how fast people will move to denser areas where a car is not needed as much when gas prices rise too high? Or will they change their neighborhoods? Or will they even think about it?

Paulos23 said:

I for one wish we didn't have such a reliance on the car. There are not many good bike paths or lanes (mostly painted gutter lanes) or buses through my suburb, the population density and tax base are too low.

I wonder how fast people will move to denser areas where a car is not needed as much when gas prices rise too high? Or will they change their neighborhoods? Or will they even think about it?

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The high gas prices of the prior decade didn’t cause such a change in behavior, I doubt this round will be much different.

Paulos23 said:

I for one wish we didn't have such a reliance on the car. There are not many good bike paths or lanes (mostly painted gutter lanes) or buses through my suburb, the population density and tax base are too low.

I wonder how fast people will move to denser areas where a car is not needed as much when gas prices rise too high? Or will they change their neighborhoods? Or will they even think about it?

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Trying to get Americans to change their car-centric approach to transportation planning is nearly an exercise in futility. Heck, when gas prices go up we resist suggestions like "maybe we should learn to live with driving smaller, more fuel efficient vehicles so gas price spikes don't have as much of an effect". Trying to suggest "hey, maybe we can take this 80 foot road, narrow it a bit and put in some bike lanes" is akin to suggesting we institute a centrally planned economy.

I live in a big city where things like a good cycling and public transportation infrastructure make a lot of sense. Improving either is nearly impossible if there's even a whiff that it might take away even a minute amount of space for cars.

trunks2k said:

Trying to get Americans to change their car-centric approach to transportation planning is nearly an exercise in futility. Heck, when gas prices go up we resist suggestions like "maybe we should learn to live with driving smaller, more fuel efficient vehicles so gas price spikes don't have as much of an effect". Trying to suggest "hey, maybe we can take this 80 foot road, narrow it a bit and put in some bike lanes" is akin to suggesting we institute a centrally planned economy.

I live in a big city where things like a good cycling and public transportation infrastructure make a lot of sense. Improving either is nearly impossible if there's even a whiff that it might take away even a minute amount of space for cars.

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I have stumbled on a group that is looking into this issue called Strongtowns. It will take decades, but we could turn it around.

Paulos23 said:

I have stumbled on a group that is looking into this issue called Strongtowns. It will take decades, but we could turn it around.

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Oh yeah, I know all about them. But that's kidna the point - it's not something that is going to turn around easily. It's going to take a LOT of changing the way the average person thinks about transit. Certain areas are better at it than others, but I'll be shocked if I see that in my lifetime.

HARK! said:

This well kept secret has been out in the open since around 2008; but it's the international bankers who are most benefiting from inflation. Inflation is cause by expanding the money supply. A major driving factor in this expansion is from the interest on the loans that these bankers make to governments with their funny money.

This is much different than a rise in price, on any specific commodity, based on supply and demand.

You can be sure that the bankers are doing this on purpose.


"Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back." -- Sir Josiah Stamp, former President, Bank of England

"Give me control of a nation's money and I care not who makes it's laws."-- Mayer Amschel Bauer Rothschild

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Before shale fracking was discovered in the 2000’s, the U.S. was the world’s largest oil importer. We were dependent on Arab oil. Since shale fracking was first used to recover natural gas, then later petroleum, we became the largest oil producing nation in the world. During 2020 there were COVID lockdowns. Travel was slowed. People cancelled vacations and worked from home. This reduced gasoline and jet fuel consumption. Oil companies continued to go out of business. Drilling rigs were idle. Drilling rig and pipeline construction crews were laid off; these people found other jobs.

Now there has been a surge in demand for oil. Industry has not been able to meet the demand in so short a time. It will take time to grow production.

Neogaia777 said:

I listened to a guy today who said that inflation was a secret tax, and the government profits and makes money off of it, etc, they can fund certain things with it, etc...? So are they then doing this in purpose...? Or what...?

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The guy you listened to is a crank. Inflation is not a "secret tax." The causes of it are somewhat more complicated and nuanced than previously thought (i.e. >10 years ago), but its effects are not a secret.

If the government "profits" off of inflation, it's in the way that inflation stimulates economic activity (thereby increasing tax revenues) and devalues debt (thereby making borrowing cheaper).

dqhall said:

Biden placed a ban on new oil and gas drilling permits on Federal lands in an effort to slow global warming.

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No, he banned the sale of new leases, not permits. In fact, drilling permits are up under Biden:
Despite a Pledge to Ban It, Oil and Gas Permitting Is Up Under Biden

Additionally, Biden's been in office for only 10 months. Under a hypothetical scenario where he had banned new permits, it's unlikely that most of them would've had enough time to start producing yet, given the amount of infrastructure needed to drill a well and get it running.

HARK! said:

This well kept secret has been out in the open since around 2008; but it's the international bankers who are most benefiting from inflation. Inflation is cause by expanding the money supply. A major driving factor in this expansion is from the interest on the loans that these bankers make to governments with their funny money.

This is much different than a rise in price, on any specific commodity, based on supply and demand.

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Expanded money supply is one potential source of inflation, but it's not the only one nor does an expanded money supply automatically result in inflation.

We've had this discussion before, haven't we?

HARK! said:

I'm aware that the Federal Government holds oil reserves for just such emergencies. Maybe Biden needs to be advised of this too.

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I fail to see how this constitutes an emergency.

HARK! said:

I'd like to see your proof of this.

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My proof of what? That an expanded money supply isn't the only source of inflation?
Inflation is a rise in prices. Prices can be impacted by a bunch of things, including, for example, supply shocks driven by things that have nothing to do with monetary policy (e.g. natural disasters).

Or that an expanded money supply doesn't automatically lead to inflation?
For that, one need only look at inflation rates from about 2009-2020. We had lots of extra money supply but low inflation.

As I'm pretty sure I've already explained to you, in order to trigger higher price inflation, the extra money needs to actually find its way into the economy where people will spend it. Pumping money into the bond market doesn't do that.

Not to my recollection.

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Yep, looks like we have:
Psaki: It’s ‘Unfair And Absurd’ That Companies Would Raise Costs For Consumers Due To Higher Taxes

FireDragon76 said:

"inflation is a secret tax" is the rhetoric of the monied class, who typically live off investments and corporate profits rather than personal labor income. In reality, wages are going up for ordinary workers.

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And so are gas prices, food prices, costs for all goods and services. So is the poverty rate. Wages are not keeping up with inflation. Biden and the democrats are killing us.

rjs330 said:

And so are gas prices, food prices, costs for all goods and services. So is the poverty rate. Wages are not keeping up with inflation. Biden and the democrats are killing us.

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Hyperbole.

iluvatar5150 said:

No, he banned the sale of new leases, not permits. In fact, drilling permits are up under Biden:
Despite a Pledge to Ban It, Oil and Gas Permitting Is Up Under Biden

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Initially Biden banned new leases on Federal land and drilling permits.
https://www.usnews.com/news/busines...ds-new-oil-and-gas-leases-permits-for-60-days

He then approved permits for part of the Federally owned Permian Basin in New Mexico and some land in North Dakota in the Bakken oil field. These were exceptions to his promise to ban permits on Federal lands.

His administration may try to reform mineral rights leasing procedures to give the tax payer a better deal, but I think he is also pressured to please the zero carbon people.
Biden promised to ban new drilling on public lands. How's that going?