Re: re Aw yea, short memories

Rockwall TX

Description

The US first became a net exporter of petroleum in October, 2019. From then thru the end of Trump's term, net exports totaled 8,250,000 barrels. Since Biden became president, net exports so far total 8,548,000 barrels. I guess in Trump speak that means Biden made the US "more energy independent, soooo energy independent you won't believe". Both of these figures represent a small drop in the bucket compared with the average American consumption of about 20 million barrels per day. (source-EIA.gov) Please list all oil fields and refineries that Biden ordered to reduce production. Include source. Between March and May, 2020 oil companies cut production by about 25% to match the drop in demand caused by a "hoax pandemic". Production recovered by about 10% by the end of Trump's term. Its up by almost 5% now, but still well below pre pandemic levels (source-Ycharts.com). Biden asked them all to raise production before asking others, (OPEC, etc) for more oil. They said no. Why invest to increase production when they're already making record profits? But according to MAGA thought process, since the supply cut happened while he was in office, it must be all his fault. Right? All Biden did was get the economy going again which drove up demand. Environmental reviews by both the Obama and Trump administrations concluded that the Keystone XL pipeline would not have lowered gasoline prices. The government never forced any bank to write a 125% or reverse amortising, or any of the other "creative" mortgages they sold so aggressively. Removing the separation between bank's commercial and retail activities allowed them to gamble with depositor's life savings, knowing the FDIC would cover the losses. Democrats did not create the FDIC while Bush was pres. But maybe Bush should have been warning the Republicans as they controlled both houses of congress for his first 4 years. But they were too busy killing all his attempts at immigration reform. I never said Reagan caused the 80s recession. He was President when it happened, so by MAGA logic, that makes it his fault. It didn't happen under Carter. The roots of that recession go back to the inflation spiral that began under Nixon. Rarely in economics does effect immediately follow cause. Reagan did make the recession deeper and longer lasting. Running massive deficits to give rich people more money. It's called trickle down economics. Reagan liked to call it "supplyside", many at the time called it "voodoo economics". Massive government borrowing drove interest rates and inflation even higher. You know how pundits are calling now "the highest inflation in 40 years? That's the period they're referring to. Research? You've not presented a single fact. Nothing but opinion, Fox news talking points. Back up anything you've said with a sourse other than right wing propaganda generators.