Quote (Thor123422 @ Mar 15 2021 04:13pm)
I'm generally in favor of higher fossil fuel costs. We've been getting a free ride for far too long, socializing the costs and pumping subsidy to keep gas pump prices low.
Keystone was garbage and should have never happened. It directly violated our treaties with the tribe who's land it passed through and Obama should have shut it down before it ever became an issue. Too bad he was a pussy.
Anyway back to read things.
Was Keystone XL actually pumping? I haven't kept up with it so I don't know the status. I know there was some construction happening as late as January? What regulations did he have the power to enact in November? That seems to be a pretty solid bullet in the claim that his actions caused a price increase if he wasn't even president when prices started going up right?
Prices are not a reflection of the past but of future expectations. The fact is, his moves and his stance, which is undoubtedly towards supporting EV's and opposing fossil fuel consumption is obvious. That's been most democrats perspective for a few years now.
Tesla and the rest of the EV's are not trading at stratospheric valuations because of what happened or what is happening today but rather what will happen. Same with gasoline, it's going up because market participants know supply will get squeezed. There's a ton of things that are and will happen under Biden's admin that is anti-fossil fuels. The below article is just an example.
https://www.washingtonpost.com/climate-environment/2021/01/27/biden-climate-change/It's fine to have your perspective I just wish Biden was a little more honest. He is absolutely raising taxes on the middle and lower classes through this proxy.
Just some back of napkin math. 10 dollars extra per week per car currently for me. 2 cars. 2*10= 20, 20*52 weeks and we're at 1040.
To get this to pretax we can multiply by 1.25*1040= 1300 per annum.
Let's say the average family makes 60 grand. 1300/60,000=2.2%
So the average middle-class family just got 2.2% tax increase in a matter of like 3 months.
Let's say that family only make 40k. 1300/40,000 = 3.25% tax increase
And this is at current prices when we are still in half lockdowns with just barely getting out of winter. What is that % going to look like if gas gets to 4/gallon? How about if we include the price increase in goods and services? Now consider this in the context that like 50-70% of Americans live paycheck to paycheck.
This post was edited by ofthevoid on Mar 15 2021 02:30pm