Policy question: Inflation

Concart

Concart

Well-known member
Contributor
During Trumps news conference he claimed that the cost of oil had caused the spike in inflation.

Question: How will a policy of more drilling impact the price of goods and services. To what extent does an increase in oil/energy costs impact the cost of goods.

Please be specific regarding your claim and cite sources. Please state specific numbers.
 
Concart said:
During Trumps news conference he claimed that the cost of oil had caused the spike in inflation.

Question: How will a policy of more drilling impact the price of goods and services. To what extent does an increase in oil/energy costs impact the cost of goods.

Please be specific regarding your claim and cite sources. Please state specific numbers.
Click to expand...
If you do not understand the importance of oil and natural gas in the lives of Americans and the rest of the world, you are too fucking stupid to get an answer to your asinine question.
 
Concart said:
Question: How will a policy of more drilling impact the price of goods and services. To what extent does an increase in oil/energy costs impact the cost of goods.

Please be specific regarding your claim and cite sources. Please state specific numbers.
Click to expand...
You’re kidding, right? Geez it’s as simple as microeconomics gets.
It increases the supply of a major commodity, reducing demand which reduces its price which in turn reduces the cost of distribution of goods.
 
Concart said:
During Trumps news conference he claimed that the cost of oil had caused the spike in inflation.

Question: How will a policy of more drilling impact the price of goods and services. To what extent does an increase in oil/energy costs impact the cost of goods.

Please be specific regarding your claim and cite sources. Please state specific numbers.
Click to expand...
Simple answer. Transportation costs.
 
Trump says he wants to increase oil drilling , so just where is he going to get all the drilling equipment from?
we at this time have got everything we have already on line. it takes time to build new rigs.
I guess he wants to try and make up for the big mistake he made when he was in office and the US oil industry went to him and asked him to help them stem the tide of the Saudi oil price war, when he did nothing and let OVER 100 US oil drilling and producing companies go bankrupt and a LOT of them out of business for good.
then only AFTER that did he do any thing and finally went to the Saudis and told them to CUT their production and RAISE the price of oil or he was going to STOP ALL Military aid to them, and they did.
it is a little too late , the US oil industry has come back with NO help from him and have been producing at record levels for some time now.
in Feb 2021 just after Biden took over US oil production was DOWN to 9.7 MBPD and has now been over 13 MBPD for months.
you can't " Drill baby drill " unless you have drilling rigs available to do so.
and YES I know they are building them as fast as they can .
Have a nice day
 
anonymoose said:
You’re kidding, right? Geez it’s as simple as microeconomics gets.
It increases the supply of a major commodity, reducing demand which reduces its price which in turn reduces the cost of distribution of goods.
Click to expand...
How much.? How does Trumps 'drill baby drill' impact overall oil production, and what quantifiable impact would that have on inflation. Your assertion that an increase in the supply of a good decrease demand is completely incorrect. Grade: D+
 
RB 60 said:
Simple answer. Transportation costs.
Click to expand...
I wish it were that simple.

Nearly EVERYTHING we touch has an involvement in the God given gift of oil and natural gas. Incredibly stupid tree hugging fools have no concept of the extent these two products affect their daily lives.

I find it ironic some of these cockwonbles glue their body parts to an asphalt road not knowing both the glue and asphalt were by-products of what they protest.
 
Lionfish said:
I wish it were that simple.

Nearly EVERYTHING we touch has an involvement in the God given gift of oil and natural gas. Incredibly stupid tree hugging fools have no concept of the extent these two products affect their daily lives.

I find it ironic some of these cockwonbles glue their body parts to an asphalt road not knowing both the glue and asphalt were by-products of what they protest.
Click to expand...
Completely irrelevant. F-
 
Concart said:
How much.? How does Trumps 'drill baby drill' impact overall oil production, and what quantifiable impact would that have on inflation. Your assertion that an increase in the supply of a good decrease demand is completely incorrect. Grade: D+
Click to expand...
and seeing that oil prices are a product of the world economy it won't make a lot of difference , just drive up oil companies profits.
we might want to look into companies that have been making record profits for the last few years, and find out why their prices haven't come back down.
and that is in ALL US industries.
again the US oil industry has been producing oil at record levels for well over a year and Gas prices haven't gone down that much but their profits are way up.
Have a nice day
 
Concart said:
How much.? How does Trumps 'drill baby drill' impact overall oil production, and what quantifiable impact would that have on inflation. Your assertion that an increase in the supply of a good decrease demand is completely incorrect. Grade: D+
Click to expand...
Marginal utility. Yes, i stand corrected. Increase in supply causes a decrease in price IF demand is constant . As far as “what quantifiable impact would that have on inflation “ that’s impossible to calculate accurately by a layman. But everything else I stated is correct.
My inflation reduction plan would work but it’d hurt and hurt badly for a while. In fact it would be recessionary.
Reduce spending and increase taxes on EVERYONE until the debt is controllable.
 
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anonymoose said:
Marginal utility. Yes, i stand corrected. Increase in supply causes a decrease in price IF demand is constant . As far as “what quantifiable impact would that have on inflation “ that’s impossible to calculate accurately by a layman. But everything else I stated is correct.
My inflation reduction plan would work but it’d hurt and hurt badly for a while. In fact it would be recessionary.
Reduce spending and increase taxes on EVERYONE until the debt is controllable.
Click to expand...
You have google, right? Tons of studies have been done on this. Completely disagree on your solution. It would cause a massive recession.
 
Tbird19482 said:
Trump says he wants to increase oil drilling , so just where is he going to get all the drilling equipment from?
we at this time have got everything we have already on line. it takes time to build new rigs.
I guess he wants to try and make up for the big mistake he made when he was in office and the US oil industry went to him and asked him to help them stem the tide of the Saudi oil price war, when he did nothing and let OVER 100 US oil drilling and producing companies go bankrupt and a LOT of them out of business for good.
then only AFTER that did he do any thing and finally went to the Saudis and told them to CUT their production and RAISE the price of oil or he was going to STOP ALL Military aid to them, and they did.
it is a little too late , the US oil industry has come back with NO help from him and have been producing at record levels for some time now.
in Feb 2021 just after Biden took over US oil production was DOWN to 9.7 MBPD and has now been over 13 MBPD for months.
you can't " Drill baby drill " unless you have drilling rigs available to do so.
and YES I know they are building them as fast as they can .
Have a nice day
Click to expand...
I agree with this assessment. I would like to see some additional responses before I weigh in. Bottom line, ‘drill baby drill’ is a simpletons answer to a much more complex issue.
 
Concart said:
You have google, right? Tons of studies have been done on this. Completely disagree on your solution. It would cause a massive recession.
Click to expand...
Oh right the Internet. The place you knuckleheads want to place to save us all from "misinformation" right? I've noticed that all the "misinformation" you find ways seems to disagree with leftist positions. Fascinating phenomenon don't you think?
 
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Concart said:
You have google, right? Tons of studies have been done on this. Completely disagree on your solution. It would cause a massive recession.
Click to expand...
The Clinton administration was the closest that came to my solution since we started massive deficit spending during the Reagan administration. And how did that work out? Pretty good.
You may disagree with my solution but you agree with me that it would be recessionary. But just imagine what our tax dollars could go to if none of our tax dollars were paying interest on the debt once the hurt was finished.
 
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When Trump says "drill baby drill" it means more than just getting more oil out of the ground. It means easing stifling regulations. It means pipelines. It means FJB. And we get it. sorry OP doesn't
 
anonymoose said:
The Clinton administration was the closest that came to my solution since we started massive deficit spending during the Reagan administration. And how did that work out? Pretty good.
You may disagree with my solution but you agree with me that it would be recessionary. But just imagine none of our tax dollars paying interest on the debt once the hurt was finished.
Click to expand...
Not like Clinton.. Austerity programs have failed miserably every time they are tried. Ask the UK how that worked out for them. A complete fail. Tax increases should be targeted to have the smallest possible impact on consumer spending and that means taxing the richest, not everyone. Almost all of the pain would be felt by the bottom quintiles. A wealth tax is ltge most effective in targeting those dollars least likely to be spent. The impact on the markets would also be minimal.

There is no plan that would eliminate the debt short term. Not possible. The deficit yes, the debt, no.
 
Concart said:
During Trumps news conference he claimed that the cost of oil had caused the spike in inflation.

Question: How will a policy of more drilling impact the price of goods and services. To what extent does an increase in oil/energy costs impact the cost of goods.

Please be specific regarding your claim and cite sources. Please state specific numbers.
Click to expand...
A lot, moron. Virtually everything in the country is transported by diesel, so as goes the price of diesel, so goes the price of everything.
Biden fucked up the fuel supply on day 1, and as a result, highest fuel, food, and other prices ever, shitbird.
 
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