The US government's release of 50 million barrels of oil from its petroleum reserve still doesn't stack up much against a free market economy's rules about supply and demand. It may alleviate it to some extent, but in the end it's the oil companies who decide what they want to sell their products for.
Gas prices in Europe are $6-$8, but we drive shorter distances and don't buy all that many F150s or the like, so maybe we're still off better.
>>>"The US government's release of 50 million barrels of oil"/// That's less than the US consumes in three days. It was a PR stunt to slow the downward spiral in polling data. Alternatively, if the government introduced temporary fuel tax relief it would save the average driver over .50 cents a gallon.
The current US debt is $30T. There is a push to pass a >$1T infrastructure bill. Methinks the government doesn't withhold the funding of projects simply because it doesn't have the tax revenue to pay for it.
The US government's release of 50 million barrels of oil from its petroleum reserve still doesn't stack up much against a free market economy's rules about supply and demand. It may alleviate it to some extent, but in the end it's the oil companies who decide what they want to sell their products for.
ReplyDeleteGas prices in Europe are $6-$8, but we drive shorter distances and don't buy all that many F150s or the like, so maybe we're still off better.
That is called capitalism-they've got it and you went it.
ReplyDelete>>>"The US government's release of 50 million barrels of oil"/// That's less than the US consumes in three days. It was a PR stunt to slow the downward spiral in polling data. Alternatively, if the government introduced temporary fuel tax relief it would save the average driver over .50 cents a gallon.
ReplyDeleteMethinks the money is needed to fund infrastructure repair. Rode 5K miles cross-country in 2018, and many places it is sorely needed.
DeleteThe current US debt is $30T. There is a push to pass a >$1T infrastructure bill. Methinks the government doesn't withhold the funding of projects simply because it doesn't have the tax revenue to pay for it.
DeleteWell, like someone said on the radio when I worked in New Jersey back in the 1980s: "Why should we pay? Let the government pay!"
ReplyDeleteIndeed....