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Do Experts Think Trump’s Plan To Bring Grocery Prices Down Will Work?

Fletch said:
Yes, we have not yet recovered from Bidens oil price shock.
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More untruths. What is your purpose? What oil price shock? How come folks like you only tell us but never show us your facts. Trump says prices for food have come down. Is that true where you live?
 
At these crude price levels drill baby drill is not going to happen.
 
Covid decimated the US oil and gas industry. At the end of 2020 there were only 351 active rigs. Down from 792 pre pandemic March 2020.

Over 100 O&G companies went bankrupt due to covid. Over 100,000 workers were laid off. It took years to recover from those losses.

oilprice.com

The U.S. Lost 120,000 Oil & Gas Jobs In 2020 | OilPrice.com

Around 120,000 jobs were lost in the U.S. oil and gas industry last year due to the crash in oil demand and prices and subsequent massive downsizing of staffing levels
oilprice.com oilprice.com

ogv.energy

Over 100 oil and gas companies went bankrupt in 2020

Over 100 oil and gas companies went bankrupt in 2020 More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic
ogv.energy ogv.energy
 
Biden can thank Trump for the covid oil price mess he had to clean up. :LOL:
 
You can fudge the economic indicators but you cannot fudge people running out of money just to buy food; and then having to run up a credit card balance they can't pay off each month.
 
Greenbeard said:
Haven’t seen breadlines like that since the first Trump administration.
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Yes, something about him makes people like you want to wait for hours in long lines for bread and toilet paper.
 
bongsaway said:
More untruths. What is your purpose? What oil price shock? How come folks like you only tell us but never show us your facts. Trump says prices for food have come down. Is that true where you live?
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Did you sleep through nearly $5 per gallon gasoline in 2022?
 
bongsaway said:
Did Biden control the cost of diesel? If so, how. Show us it was all his fault.
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So only republicans get the blame when things go badly during their presidency? Must be tough holding such double standards.
 
Greenbeard said:
You really don’t have to try and convince me hiring Trump was useless, I swear!
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It wasnt useless at all. So far he has closed the border and purged the cultural Marxism from the country. And he did that in just 6 months. If he accomplishes nothing else, he is the most successful president of my lifetime.
 
Fletch said:
Diesel prices skyrocketed under Bidunce and you werent crying about it then
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Consumers Pay The Price As Biden’s War On Oil And Gas Expands​

By David Blackmon,
Seemingly determined to repeat every energy policy error of the last half century, Joe Biden’s war on the domestic oil and gas industry gained new steam last week even as gasoline and diesel prices rose to new record highs.

AAA reported Sunday that the average national price for a gallon of regular gas rose to a new record of $4.85, recording a 24-cent increase for the week ended June 4. The average price for diesel fuel, a major driver of inflation for consumer goods, also hit a new record high on the same day of $5.64.

Despite the reality that a shortage of refining capacity is a cause of high diesel prices, Biden’s EPA carried the administration’s assault on the industry to its downstream sector late in the week. On Friday, EPA announced additional biofuel blending mandates not just for 2022, but also retroactive mandates that will force refiners to make up for 2020 and 2021 volumes that were previously suspended due to the COVID-19 pandemic.

"Together, these actions reflect the Biden administration's commitment to reset and strengthen the RFS (U.S. Renewable Fuel Standard), bolster our nation's energy security and support homegrown biofuel alternatives to oil for transportation fuel," EPA spokesperson Tim Carroll said. How the move provides any benefit to the nation’s energy security is a real mystery, and Mr. Carroll wasn’t providing details.


The EPA edict will not just raise the cost of refining and distribution of gas and diesel - and thus result in even higher prices at the pump - it will also take millions more tons of corn out of the food supply during a time of growing global food shortages. As such, it is a policy action that prioritizes the making of biofuel that many believe serves no useful environmental or economic purpose over efforts to prevent starvation in developing nations.


The counter-productivity of such a tax should be obvious to anyone with even the most rudimentary understanding of the market fundamentals causing crude oil and gasoline prices to keep rising: Mainly, the global market for oil is chronically under-supplied. A massive new tax on oil company profits would inevitably result in less oil production in the U.S., which is one of a handful of countries with remaining capacity to increase its own production. Less oil production would only cause prices to rise further and faster.

It is a policy move with no foundational real world logic, but given the performance of this President and his administration’s wishful-thinking-based energy policy to this point, no one should be surprised that it is under serious consideration. Given that Mr. Biden seems determined to repeat every policy mistake of the past, we can only wonder what he might do next:

www.forbes.com

Consumers Pay The Price As Biden’s War On Oil And Gas Expands

Seemingly determined to repeat every energy policy error of the last half century, Joe Biden’s war on the domestic oil and gas industry gained new steam last week even as gasoline prices rose to new record highs.
www.forbes.com www.forbes.com


For what it's worth
 
Isidore said:
I thought the plan was to just say that grocery prices are lower.


(15 seconds)
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Mr. President.
Have you looked at the price of beef lately?

imo, while egg prices have come down other items have gone up. My grocery bill has not come down, it is going up.
The impact of your steel and aluminum tariffs have yet to really hit. bet the price of canned goods is going to go up.
 
If they do, they're not experts.
 
bongsaway said:
Many Americans, who in large part voted for Donald Trump due to his promises to lower food costs, are still experiencing sticker shock every time they grocery shop — especially for eggs. However, whether or not the president can help consumers save money remains to be seen, especially when you factor in the tariffs his administration has imposed.

Even though President Trump previously acknowledged a rise in inflation (while deflecting blame) since he returned to office at the beginning of the year for his second term, it hasn’t slowed his economic plan of attack. Now, halfway through the year, it’s a good time to ask everyone, “Do you think your grocery bills will go down?”

Trump noted that farmers use a significant amount of energy to plant, grow and harvest their crops. Then, it takes more fuel to ship the products to stores. In theory, if the country produces more fuel, the price at the pump will drop. The savings the farmers and shippers realize could then trickle down to consumers.

So drill baby drill is trump's answer to lowering food costs. Meanwhile he's doing his best to destroy the wind and solar programs. This is the shit trump claims are wins.

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Ah gee...

He's had eight and as half months to attack it, and everything he's done INCREASES costs so.....

And, the kick back on tariffs are yet to affect anyone.....

I suspect Americans are about to actually FEEL the pain.
 
bongsaway said:
Many Americans, who in large part voted for Donald Trump due to his promises to lower food costs, are still experiencing sticker shock every time they grocery shop — especially for eggs. However, whether or not the president can help consumers save money remains to be seen, especially when you factor in the tariffs his administration has imposed.

Even though President Trump previously acknowledged a rise in inflation (while deflecting blame) since he returned to office at the beginning of the year for his second term, it hasn’t slowed his economic plan of attack. Now, halfway through the year, it’s a good time to ask everyone, “Do you think your grocery bills will go down?”

Trump noted that farmers use a significant amount of energy to plant, grow and harvest their crops. Then, it takes more fuel to ship the products to stores. In theory, if the country produces more fuel, the price at the pump will drop. The savings the farmers and shippers realize could then trickle down to consumers.

So drill baby drill is trump's answer to lowering food costs. Meanwhile he's doing his best to destroy the wind and solar programs. This is the shit trump claims are wins.

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I mean, that makes sense!


If I own a gold mine (and I know I have a limited supply), I could bring out one gold bar a day and sell it for — what’s the going rate now? — say, $100,000. Naturally, it makes perfect sense to produce more gold, sell it at a lower price, and deplete my mine sooner for less money! Yep… that totally makes sense to me.


And people actually voted for this “brilliant businessman”!


Oh dear God.

Diving Mullah
 
Nickyjo said:
Two of the three states (California, Texas, and Florida) that have installed solar are not “lib thing” types. More style over substance, I assume, like the troops in DC.
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Thought I’d add to my incomplete post: the three states are the leaders in this.
 
bongsaway said:
So then, along with the drug companies now paying us to take their drugs the egg producers are also going to start paying us for eating eggs. I knew trump was powerful but I'm starting to think he might be stupornatural?
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How is it possible for someone to graduate from the Wharton school without understanding percentages?
 
Greenbeard said:
Well, if that's his theory of the case and he's right, we are screwed. Diesel is at a one-year high and transport isn't getting any cheaper.

fredgraph.png


tech.co

Rising Diesel Costs Are Eating into Transport Company Budgets

A significant number of logistics professionals now say fuel prices are hitting their business harder than other issue.
tech.co tech.co
www.supplychaindive.com

Ground delivery costs hit record high as UPS, FedEx discounts wane

Shippers are transitioning their lower-value volume to slower economy services to blunt the impact of higher fees, per the TD Cowen/AFS Freight Index.
www.supplychaindive.com www.supplychaindive.com
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Bidens new EPA rules for the Trucking industry has made it worse. Trump rolling back those restrictions will make it easier.
 
Linuxcooldude said:
Bidens new EPA rules for the Trucking industry has made it worse. Trump rolling back those restrictions will make it easier.
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Which rules? If you're talking about the ones passed in 2024, those are a good example of not letting private industry socialize their costs.
www.epa.gov

Biden-Harris Administration Finalizes Strongest Ever Greenhouse Gas Standards for Heavy-Duty Vehicles to Protect Public Health and Address the Climate Crisis While Keeping the American Economy Moving | US EPA

EPA News Release: Biden-Harris Administration Finalizes Strongest Ever Greenhouse Gas Standards for Heavy-Duty Vehicles to Protect Public Health and Address the Climate Crisis While Keeping the American Economy Moving
www.epa.gov www.epa.gov
 
Fletch said:
Did you sleep through nearly $5 per gallon gasoline in 2022?
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Funny you say that I bought gas for $5 a gallon yesterday.
 
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