02-03-2022, 12:55 PM
(02-03-2022, 07:56 AM)Belsnickel Wrote: You would have to provide empirical evidence that his policies has an effect on the price of oil and/or gasoline in order to perform an empirical analysis. Please explain to me the empirical analysis and the evidence used. I'm curious what statistical test was performed as well as the confidence level of the results.
Your position on this is subjective. Don't try to claim some objective, analytical approach to it. This conversation right here is one of the biggest problems in politics, today. People think and try to claim that they are coming to some position based on an objective analysis, but they are just telling themselves that when it is nothing but their opinion. It's emotionally based. People see something correlative and make causative statements about it. If people would just be willing to admit what they don't know, we'd be a lot better off.
Bel, it's as simple as supply and demand. Biden's policies have resulted in less supply, both now and going forward, while demand is now increasing due to people returning to work and leaving their homes. I literally acknowledged that there are many factors that go into the price of gas, but to state that Biden's energy policy isn't a major contributor rather flies in the face of logic. Oil, like any commodity, is traded as much on its current value as its future value. Restricting supply means the oil that is left will naturally be worth more, especially as demand continues to increase. This is economics 101.
