According to oil execs testifying to Congress, it’s the market’s fault; they didn’t blame Biden cause no President controls the market. But companies and investors definitely have more influence on a stock market than any politician does.
The Republicans are fighting inflation by outlawing abortion and making it harder to vote. How they figure that will help is beyond me, but that’s all they are doing, besides blaming Biden.
I got rather curious about historical gas prices and tried to put together a complete picture, plotting price normalized to the cost of living (CPI). I came up with data from 1929 to the present, putting the Jan & Feb ’222 numbers as 2022.
Expressed in current dollars – here is the range:
Maximum around $4.40-$4.50/gal in 2011-12Highs of around $4.00-$4.20/gal reached in 1932-37, 1981-82, and 2022.The lowest stretch, by far was $2.00-$2.50 from 1986-2003.
So the current price is in the upper range, but not way out of bounds.
Now here’s the kicker. If you look at cost per mile instead of cost per gallon, the price is lower than all years prior to 1985. Now if you’re one who has decided that gas will always be cheap, and bought something that’s an anchor in those fleet mileage numbers, you bought your own trouble.
My car? An audi S4, which gets around 21 miles / gallon, below those fleet averages. I knew what I was getting, and I don’t complain, I just drive less.
Oh, look at this. FOX news is reporting that Biden will restart the leasing of permits on federal land to the petroleum industry. Well, gee willikers, wonder why he did that if oil is so bad and we are all going to son be driving EVs. Maybe reality rose up and slapped his handlers upside the head with the midterms coming up. Making this decision must have been like pulling teeth without Novocain for Biden. Wonder how many other policies of President Trump he will restore.
Obviously there are multiple reasons for price increases but a primary one is the printing of dollars. Remember those four figure check we received for breathing without means testing. Well, they are coming home to roost and you should think of using those dollars now to pay the price differences. Simply stated it is too much money chasing too few goods.
It’s as much Biden’s fault as the Fat Orange Clown’s (FDT!). So let’s confuse the RWNJs with some numbers fro Home and Tech News.
A 2021 article titled, “40% of US dollars in existence were printed in the last 12 months,” was very popular. On Jan 6, 2020, the US Federal Reserve had +/- $4 trillion dollars but much has changed since then. The Fed accelerated its quantitative easing (referred to as money printing) to increase the liquidity of U.S. banks and inject trillions of $$ into the economy.
As of February 2022, the US Inflation hits a 40-year high, rising to 7.5% in 2021 as the Fed continues to print trillions out of thin air. The US is now on the path of 1921 Weimar Germany. The Fed’s addiction to money printing has kept the celebration going for Wall Street while fueling inequality. Today, the stock market and cryptocurrency are at record highs while income and wages remain almost the same. The Fed continues to print more money further devaluing the dollars and enslaving millions of Americans.
Now a little over a year later, the Federal Reserve updated the numbers. Sadly it’s no longer 40% of all U.S. dollars that were printed since 2020, not 50% and not even 70%. Since Jan 2020, the US has printed nearly EIGHTY PERCENT (80%) of all US dollars in existence.
To understand the magnitude of this money printing, go back 22 months. At the start of 2020, there was $4.0192 trillion in circulation. On January 4, 2021, the number increased to $6.7 trillion dollars. Then the Fed went into overdrive. (Cont’d)
President Biden didn’t make you buy a status-vehicle which consumes inordinate amounts of fuel. Try going back to the 70s and using less while getting better mileage.
It’s a stupid sticker showing zero understanding of how gas prices work. If you want it to be more honest, show the faces of the gas company execs. They have a big say in the costs — and if you think they aren’t price gouging, I have a bridge in Brooklyn to sell you.
guyjen2004 Premium Member about 2 years ago
I’ve seen these stickers (minus the biden edit) in eastern MA where I live. This is a very heavily dem region, so I’m a bit surprised.
Ballast about 2 years ago
But Biden gets no credit when gas prices come down, like he shouldn’t get blame when they go up.
So tired of this throttled, dead horse.
rlaker22j about 2 years ago
the uninformed will always be uninformed just like there will always be poor people
ndblackirish97 about 2 years ago
According to oil execs testifying to Congress, it’s the market’s fault; they didn’t blame Biden cause no President controls the market. But companies and investors definitely have more influence on a stock market than any politician does.
FrankErnesto about 2 years ago
The Republicans are fighting inflation by outlawing abortion and making it harder to vote. How they figure that will help is beyond me, but that’s all they are doing, besides blaming Biden.
Lou Nattic, né Stan C about 2 years ago
With the edit is more accurate that without it.
gnorth22 Premium Member about 2 years ago
I got rather curious about historical gas prices and tried to put together a complete picture, plotting price normalized to the cost of living (CPI). I came up with data from 1929 to the present, putting the Jan & Feb ’222 numbers as 2022.
Expressed in current dollars – here is the range:
Maximum around $4.40-$4.50/gal in 2011-12Highs of around $4.00-$4.20/gal reached in 1932-37, 1981-82, and 2022.The lowest stretch, by far was $2.00-$2.50 from 1986-2003.
So the current price is in the upper range, but not way out of bounds.
Now here’s the kicker. If you look at cost per mile instead of cost per gallon, the price is lower than all years prior to 1985. Now if you’re one who has decided that gas will always be cheap, and bought something that’s an anchor in those fleet mileage numbers, you bought your own trouble.
My car? An audi S4, which gets around 21 miles / gallon, below those fleet averages. I knew what I was getting, and I don’t complain, I just drive less.
Radish the wordsmith about 2 years ago
Putin attacked a free country unprovoked and raised gas prices.
Kracklin Rosie - “Tolo Dan Nan Galad” Premium Member about 2 years ago
Oh, look at this. FOX news is reporting that Biden will restart the leasing of permits on federal land to the petroleum industry. Well, gee willikers, wonder why he did that if oil is so bad and we are all going to son be driving EVs. Maybe reality rose up and slapped his handlers upside the head with the midterms coming up. Making this decision must have been like pulling teeth without Novocain for Biden. Wonder how many other policies of President Trump he will restore.
Rich Douglas about 2 years ago
A guy in our town got caught doing that. He even added a particularly strong adhesive. He’s being charged with several crimes.
admiree2 about 2 years ago
Obviously there are multiple reasons for price increases but a primary one is the printing of dollars. Remember those four figure check we received for breathing without means testing. Well, they are coming home to roost and you should think of using those dollars now to pay the price differences. Simply stated it is too much money chasing too few goods.
It’s as much Biden’s fault as the Fat Orange Clown’s (FDT!). So let’s confuse the RWNJs with some numbers fro Home and Tech News.
A 2021 article titled, “40% of US dollars in existence were printed in the last 12 months,” was very popular. On Jan 6, 2020, the US Federal Reserve had +/- $4 trillion dollars but much has changed since then. The Fed accelerated its quantitative easing (referred to as money printing) to increase the liquidity of U.S. banks and inject trillions of $$ into the economy.
As of February 2022, the US Inflation hits a 40-year high, rising to 7.5% in 2021 as the Fed continues to print trillions out of thin air. The US is now on the path of 1921 Weimar Germany. The Fed’s addiction to money printing has kept the celebration going for Wall Street while fueling inequality. Today, the stock market and cryptocurrency are at record highs while income and wages remain almost the same. The Fed continues to print more money further devaluing the dollars and enslaving millions of Americans.
Now a little over a year later, the Federal Reserve updated the numbers. Sadly it’s no longer 40% of all U.S. dollars that were printed since 2020, not 50% and not even 70%. Since Jan 2020, the US has printed nearly EIGHTY PERCENT (80%) of all US dollars in existence.
To understand the magnitude of this money printing, go back 22 months. At the start of 2020, there was $4.0192 trillion in circulation. On January 4, 2021, the number increased to $6.7 trillion dollars. Then the Fed went into overdrive. (Cont’d)
rossevrymn about 2 years ago
Unspectacular toon
RitaGB about 2 years ago
President Biden didn’t make you buy a status-vehicle which consumes inordinate amounts of fuel. Try going back to the 70s and using less while getting better mileage.
359mxn about 2 years ago
It won’t make any difference. Haters hate because it gives their lives meaning. Stress on the mean part.
braindead Premium Member about 2 years ago
Seems like gas prices are decreasing some.
I’m sure that all Republicans will be celebrating and congratulating Biden for lowering gas prices.
I mean, there could be NO other reason, correct?
cdward about 2 years ago
It’s a stupid sticker showing zero understanding of how gas prices work. If you want it to be more honest, show the faces of the gas company execs. They have a big say in the costs — and if you think they aren’t price gouging, I have a bridge in Brooklyn to sell you.