More Signs of Economic DEFLATION: Oil prices climb again as U.S. inventories fall, Joe Biden’s Fossil Fuel Regulations creating energy SHORTAGES and higher Consumer Prices – December 29, 2021,
Joe Biden may want to consider changing his strategy as it relates to Covid-19 and fossil fuels because he’s creating a regulations nightmare for the U.S economy. Because of Joe Biden’s lack of financial education, what he’s not realizing is that even if Build Back Better gets made law, it’s going to cost a lot more money because of the regulatory environment he created.
Regarding oil shortages, this was common sense, a blind person could see this one coming, currently, there’s a demand for electric vehicles(EV) which basically means that the government’s role is no longer needed, the market is more than willing to invest in renewable energy winners, but as we know, build back better is mostly about Unionize labor getting involved in renewable energy and because of this, what you’re already seeing are private companies opting to purchase carbon credits, and carbon offsets instead of doing the actual research and development themselves, the history of U.S auto manufacturing is a preview of what unionized labor will do to the cost structure of build back better bill.
Adding to the disaster is that because of Joe Biden’s regulations on fossil fuels America is more reliant on foreign energy, meaning that these energy shortages are purely the result of Joe Biden and other progressive politicians prioritizing corporate welfare for a renewable industry that wants nothing to do with domestic manufacturing while imposing regulations on fossil fuels that will make ending these shortages problems in the future far more difficult.
It’s important to remember that the U.S dollar is finding most of its consumer price inflation in the United States, and the reason for this has to do with regulations on U.S businesses as well as shortages of labor. Now, when most people think of shortages, they only think of shortages of stuff, but what’s being ignored are the shortages of labor and shortages of services. If those economic engines crash, restarting them will be very difficult.
I’ve been writing about this lack of appetite for austerity measures. Cutting government spending and the government’s role on the economy will be the only way out of this and the U.S faces potential hyper-inflation if the Federal Reserve makes the mistake of lowering interest rates or refreshing Quantitative easing programs. This is a regulations problem and throwing money at a problem created mostly by Joe Biden, will only accelerate the problem. If you imagine that because you’re not living in the United States, this isn’t a big deal, you’re actually wrong because a large chunk of global wealth flows through the United States and most welfare programs globally exist because of the US dollar hegemony.
In Venezuela, a country rich with oil, government regulations on its private sector led to the destruction of its currency, which by the way was backed by oil. Even during a period in which oil prices are up, notice there’s no rebound or massive recovery in Venezuela? It’s because the Venezuelan government REFUSES to change its regulations policies on private businesses.
Nationalization and corporate welfare tend to lead to the same dire consequences, National Socialism and Communism from an economics perspective are very similar, corporate welfare might be smarter for the government to implement, but it’s still a form of nationalism, meaning that the trade-off will have the same end results, just a different path to getting there.
Oil prices climb again as U.S. inventories fall | reuters.com
Interesting times ahead!