Russia threatens to cut off European gas supply

[Chainsawmassacre]

Why do you make something out 11,000 jobs claim? The country added something like 430K jobs last month. Do these 11K of temporary jobs mean that much in the big picture?

Added? LOL Service industry jobs are slowly coming back since shutdown ended and I'm sure those highly paid pipe fitters love their "added" minimum wage burger flipping jobs. Biden is a race to the bottom.

 

[Chainsawmassacre]

If NATO were a joke, Putin would be a lot more confrontational with NATO states than he has been so far.

Remember how Putin was going to wage all-out cyberwarfare and scare us with his nukes? That hasn't exactly happened - at least not yet, and that's despite the fact that we're crippling Russia's economy.

That's not to say he won't get to that point, but if he does, it's because he's being pushed into a wall by NATO, not because NATO is rolling over for him. By attacking Ukraine, Russia was also attacking NATO, but Russia never wanted NATO to actually get involved in Ukraine. He attacked NATO because he thought he senses weakness. He was counting on our not getting involved, making exactly the same bets you've made - that Western liberal democratic countries are a bunch of materialistic ******s who can't handle a wee bit of hardship.

NATO is a joke because America is NATO. Putin fears getting us involved. We put all on the line for these dumb as countries that made themselves dependent on Russian gas and now fund the war on Ukraine.

 

[MTAtech]

They bought everything in sight even if their was no proven oil on it. It was a desperation buy and now Biden wants to tax them for not drilling dry leases.

You know this, how?
You claimed Biden’s ”anti-oil” policies are responsible for high gas prices but now can’t identify any policies that actually are causing those prices.

 

[MTAtech]

Added? LOL Service industry jobs are slowly coming back since shutdown ended and I'm sure those highly paid pipe fitters love their "added" minimum wage burger flipping jobs. Biden is a race to the bottom.

Meanwhile, industrial worker pay has sharply turned up.

 

[multivita-man]

NATO is a joke because America is NATO.

NATO would still probably exist without the United States in the form of a revised defense pact between NATO and Commonwealth militaries. Pulling out of NATO would probably damage the United States more than any other country, as there would be a serious re-think of global security alliances, not just in Europe but in Asia as well. The U.S. could enter into bilateral or tri-lateral treaties but again, look at it from Japan's or Germany's point of view: what is the value of a security agreement with the United States when they've basically demonstrated they're not reliable. They'd band together more closely with other European partners and anyone else who's interested like Canada and Oz.

Putin fears getting us involved.

Why? It's not like we did anything in 2008 when he invaded Georgia, or in 2014 when he invaded Crimea, or 2015-2017 when he helped Syria brutalize Aleppo. Europe has stood up to Putin pretty well. They called his bluff on backing out of his contractual obligations to accept Euros for oil shipments.

We put all on the line for these dumb as countries that made themselves dependent on Russian gas and now fund the war on Ukraine.

What have we put on the line that Europe hasn't? Europe's economy is getting hit much harder than ours right now, and it's Ukraine's troops and civilians who are doing the dying.

 

[SCrider]

Added? LOL Service industry jobs are slowly coming back since shutdown ended and I'm sure those highly paid pipe fitters love their "added" minimum wage burger flipping jobs. Biden is a race to the bottom.

Why are those temp job more important than others?

 

[multivita-man]

They bought everything in sight even if their was no proven oil on it. It was a desperation buy and now Biden wants to tax them for not drilling dry leases.

So you're saying that they just randomly bought leases without doing any geological research because ZOMG! Biden! Seems like they'd have been smarter not paying for leases that they're so uncertain about -- or maybe what posted above is just throwing spaghetti against a wall. I think the latter.

It's certainly true that leasing and exploration can be speculative - leases turn out to be unproductive. That's not wrong. But that calculus doesn't really change simply because the administrations change. That was true in December 2016, just as it was true in December 2020.

There's certainly room to criticize the Biden administration when it comes to energy policy, including oil & gas. But you've not really touched on the more valid ones - these are just retreaded and oversimplified.

 

[mrdeltoid]

How stupid was it for these NATO countries who are in NATO because they don't trust Russia to become so dependent on Russian gas? NATO is a joke in every possible way and America should get out of this sham alliance. It's doing nothing to protect its neighbor ostensibly because they are not a NATO member and they are actually funding Putin's war because they were so ****ing dumb to become dependent on his gas. NATO is worse than a paper tiger and really is nothing more than European countries having a mechanism to draw America into any potential war in one of their piss ant Russian gas dependent countries. They made the choice to become dependent on their so called enemy and America should say goodbye and good luck dumb asses.

"Nobody sells us anything for free, and we are not going to do charity either - that is, existing contracts will be stopped," the Russian president said. "

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Trump called them out for that, and said it was foolish for NATO to protect European countries, especially Germany from Russia, while being energy dependent on them. He was right…. again

 

[mrdeltoid]

First, Biden didn't reduce American oil production. Presidents don't control that, oil companies do. As explained many times, there aren't shortages of oil driving up prices because anyone who wants to fill their tanks aren't facing empty gas stations and oil companies aren't going to over-produce just to have a glut and be forced to drop prices.
Second, Biden wasn't president when the Covid shutdowns occurred but they were the thing to do before vaccines were distributed. Those shutdowns did create a glut of oil on the market and collapsed prices. Biden didn't "take credit" for that because he wasn't even in the government at the time.
Third, as we increase fuel economy standards and encourage EV vehicle use, gasoline demand will be lower and Biden absolutely can take credit for that -- although, unlike the former guy, he doesn't chest beat and bloviate.

Oil prices are speculative and the narrative of “cracking down “ on the fossil fuel industry, fracking, etc., is most certainly set by the POTUS. He pandered to the loony left green new deal donors, and the industry reacted. It’s DEFINITELY Biden’s fault.

 

[Chainsawmassacre]

Meanwhile, industrial worker pay has sharply turned up.

Wage gains destroyed by Biden inflation

 

[Chainsawmassacre]

NATO would still probably exist without the United States in the form of a revised defense pact between NATO and Commonwealth militaries. Pulling out of NATO would probably damage the United States more than any other country, as there would be a serious re-think of global security alliances, not just in Europe but in Asia as well. The U.S. could enter into bilateral or tri-lateral treaties but again, look at it from Japan's or Germany's point of view: what is the value of a security agreement with the United States when they've basically demonstrated they're not reliable. They'd band together more closely with other European partners and anyone else who's interested like Canada and Oz.



Why? It's not like we did anything in 2008 when he invaded Georgia, or in 2014 when he invaded Crimea, or 2015-2017 when he helped Syria brutalize Aleppo. Europe has stood up to Putin pretty well. They called his bluff on backing out of his contractual obligations to accept Euros for oil shipments.



What have we put on the line that Europe hasn't? Europe's economy is getting hit much harder than ours right now, and it's Ukraine's troops and civilians who are doing the dying.

NATO would be nothing without the US. The whole point of NATO is to live under America's military umbrella.

 

[Chainsawmassacre]

Why are those temp job more important than others?

Those "temp" jobs would would have put more oil on the world market

 

[Chainsawmassacre]

So you're saying that they just randomly bought leases without doing any geological research because ZOMG! Biden! Seems like they'd have been smarter not paying for leases that they're so uncertain about -- or maybe what posted above is just throwing spaghetti against a wall. I think the latter.

It's certainly true that leasing and exploration can be speculative - leases turn out to be unproductive. That's not wrong. But that calculus doesn't really change simply because the administrations change. That was true in December 2016, just as it was true in December 2020.

There's certainly room to criticize the Biden administration when it comes to energy policy, including oil & gas. But you've not really touched on the more valid ones - these are just retreaded and oversimplified.

Oil companies often purchase leases on speculation. Maybe there's oil maybe not. Now Biden wants to tax them for not drilling on land where drilling would not be profitable. This after he originally stopped all new drilling on fed lands. He bounces around out of control and as one policy fails he doubles down on one hand while on the other hand punishes oil companies for being victimized by his failed anti oil policies.

 

[multivita-man]

Wage gains destroyed by Biden inflation

Explain how Biden policies destroyed wage gains.

 

[multivita-man]

Oil companies often purchase leases on speculation. Maybe there's oil maybe not.

I don't dispute this, but they had a choice: they could either transact the lease or not. They've got the leases and Biden has opened up enough leases for a healthy amount of exploration. They can't complain to Biden that he's killing their industry, especially when they're making record profits in many cases.

Now Biden wants to tax them for not drilling on land where drilling would not be profitable.

For the record, I *mostly disagree with Biden on this. Perhaps he could massage the policy a bit so that taxes wouldn't kick in until oil/gas hit certain benchmarks.

This after he originally stopped all new drilling on fed lands.

He did back in Feb 2021, when the situation was rather different. Inflation wasn't then what it is now, and a fair number of economists, including Jerome Powell, predicted mostly transitory inflation. Biden has since adapted, but energy prices have remained consistent, precisely because inflation is a global phenomenon right now, not just an American problem. That's also why I personally push back on Biden's SPR release proposal - I think all he's going to achieve is signaling the market that he's trying to do something to fight inflation and gas prices. I think the political blame and pressure over a problem that's largely not his fault pushed him into making a decision that, if it goes the way I think, will absolutely be his fault.

He bounces around out of control and as one policy fails he doubles down on one hand while on the other hand punishes oil companies for being victimized by his failed anti oil policies.

Good grief, he hasn't punished oil companies. They're making record profits, which is the point that Biden is trying to make with some of his statements and policies.

 

[Chainsawmassacre]

Explain how Biden policies destroyed wage gains.

Inflation due to Biden. Too much money pumped into the economy chasing too few goods.

 

[SCrider]

Those "temp" jobs would would have put more oil on the world market

Long term damage not worth the short term gain.

 

[Chainsawmassacre]

Long term damage not worth the short term gain.

Then don't complain about the cost of gasoline and the coming recession that inevitably follows a huge spike in gasoline prices.

 

[multivita-man]

Inflation due to Biden. Too much money pumped into the economy chasing too few goods.

Right, because there was no stimulus under Trump and because Jerome Powell sat on his hands the whole time.

 

[SCrider]

Then don't complain about the cost of gasoline and the coming recession that inevitably follows a huge spike in gasoline prices.

I'm not complaining about gas prices.

 

[Chainsawmassacre]

Right, because there was no stimulus under Trump and because Jerome Powell sat on his hands the whole time.

Biden paid people not to work and they didn't have to pay their rent. Now we pay the piper.

 

[Chainsawmassacre]

I'm not complaining about gas prices.

Well your mom is when she pays your credit card bill.

 

[multivita-man]

Biden paid people not to work and they didn't have to pay their rent. Now we pay the piper.

And Trump didn't?

 

[mrdeltoid]

Oil companies often purchase leases on speculation. Maybe there's oil maybe not. Now Biden wants to tax them for not drilling on land where drilling would not be profitable. This after he originally stopped all new drilling on fed lands. He bounces around out of control and as one policy fails he doubles down on one hand while on the other hand punishes oil companies for being victimized by his failed anti oil policies.

Bingo! They have to so as to make up for the markets reaction to Biden's foolish policies.

 

[Lursa]

They bought everything in sight even if their was no proven oil on it. It was a desperation buy and now Biden wants to tax them for not drilling dry leases.

Poor decisions on their part then, eh? They're not accountable at all for bad decisions? Speculation, by definition, is very risky

Big companies can afford to 'do so in a big way.' And maybe profit big...or not.