Big oil’s quarterly profits hit £50bn as UK braces for even higher energy bills

 miamizsun wrote:
Translated by my Putin American English decoder ring.

 Red_Dragon wrote:

i blame the west, especially nato and nazis

 miamizsun wrote:

nah, gotta be Sleepy Joe's fault

hi alex i'll take "why people don't understand that oil is a globally traded commodity and how market disruptions, like covid, war, etc. could roil production/prices worldwide?" for $1000

 Red_Dragon wrote:
About the same amount as the estimated annual fossil fuel subsidies ($20b) provided by the gov to the industry.

 rgio wrote:

but politics are simple.

 rgio wrote:

Also, the price of oil drives the price of damned near everything.

 Red_Dragon wrote:

Curse you, capitalism! 

 Red_Dragon wrote:
So the free market, zero-regulation Republicans want to blame Joe for the price of gas?   

Sure, those numbers are global, but inflation and recession are a lot more complicated than just pointing fingers. 

ExxonMobil posts second-quarter profits of $17.85bn – four times last year’s figure – with Chevron making $11.62bn

gotta be Joe's fault...

The Role of Capitalism in the War in Ukraine

(long read)

 westslope wrote:

 black321 wrote:
Understandable.  Presumably the bounce from a steep recession will be a good one.

Think of the political implications of this from the perspective of voters who have little understanding of economics or economic policy, and who consistently exaggerate the influence of the President, and government in general.

Example: Sleepy Joe managed to attain a higher rate of economic growth than Marxist-Keynesian Donald J. Trump aka the GREATEST American president ever! 

 Red_Dragon wrote:

Not trying to be obtuse here, but... so?

2021 economy boomed at fastest rate in 37 years

 westslope wrote:
 

I was referring to the tax-cut driven increase in deficit-financed fiscal expenditures during the reign of Trump I.   The exact opposite of what conservative Keynesian business cycle management would call for. But I get the Lenin reference.  

Maybe Americans find themselves between a rock and hard place but frankly, I say screw the bi-partisanship and do what you have to do to get the pandemic under control.  Place the country on an almost war-like footing and then play bi-partisan footsies with the republicans later.   Economics outcomes will not sustainably improve until this threat is under control.  Borrowing costs are low, interest payments are manageable and the government should exploit that to fully gear up.    

Agreed!

 miamizsun wrote:
 
you want me to think now too? sheesh. I'm just here for the chicken.

maybe it's the stupid economy

or maybe just the stupid

bet you all never thought about did you?