Biden lies about inflation.....again

[GMDino]

(05-22-2024, 01:21 PM)Mike M (the other one) Wrote: Again, we are seeing the results of Trump's oil policies kicking in. 
Don't worry though, It'll go back up soon enough since Biden's policies are countering it.

And Biden also just released 1M barrels from the NE Fed reserves in an attempt to the the Gas prices down for July.

Which policies?

https://www.nytimes.com/2020/04/12/business/energy-environment/opec-russia-saudi-arabia-oil-coronavirus.html

Quote:Oil Nations, Prodded by Trump, Reach Deal to Slash Production

[color=var(--color-content-secondary,#363636)]The deal will reduce output by 9.7 million barrels a day. While significant, the cut falls far short of what is needed to bring oil production in line with demand.[/color]

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[img=1041x744]https://static01.nyt.com/images/2020/04/13/business/13oil-print/merlin_165263190_b2cbee39-d392-4494-b54e-cdb279087d31-articleLarge.jpg?quality=75&auto=webp&disable=upscale[/img]
[color=var(--color-content-quaternary,#727272)]A gas pipeline in Siberia. Thousands of Soviet-era oil and gas wells in western Siberia make the math complicated for Russia to shut down production.Credit...Maxim Shemetov/Reuters[/color]

[color=var(--color-content-secondary,#363636)]By Clifford Krauss[/color]
[color=var(--color-content-secondary,#363636)]Published April 12, 2020Updated Nov. 16, 2020[/color]
[color=var(--color-content-secondary,#363636)]Sign up for the Trump on Trial newsletter.  The latest news and analysis on the trials of Donald Trump in New York, Florida, Georgia and Washington, D.C. [color=var(--color-signal-editorial,#326891)]Get it sent to your inbox.[/color][/color]



[color=var(--color-content-secondary,#363636)]HOUSTON — Oil-producing nations on Sunday agreed to the largest production cut ever negotiated, in an unprecedented coordinated effort by Russia, Saudi Arabia and the United States to stabilize oil prices and, indirectly, global financial markets.
[color=var(--color-content-secondary,#363636)]Saudi Arabia and Russia typically take the lead in setting global production goals. But President Trump, facing a re-election campaign, a plunging economy and American oil companies struggling with collapsing prices, took the unusual step of getting involved after the two countries entered a price war a month ago. Mr. Trump had made an agreement a key priority.[/color]

[/color]
[color=var(--color-content-secondary,#363636)]It was unclear, however, whether the cuts would be enough to bolster prices. Before the coronavirus crisis, 100 million barrels of oil each day fueled global commerce, but demand is down about 35 percent. While significant, the cuts agreed to on Sunday still fall far short of what is needed to bring oil production in line with demand.[/color]

[color=var(--color-content-secondary,#363636)][color=var(--color-content-secondary,#363636)]The plan by OPEC, Russia and other allied producers in a group known as OPEC Plus will slash 9.7 million barrels a day in May and June, or close to 10 percent of the world’s output.[/color][/color]

All seriousness aside, it took four years for Trump's policies to take affect and prices to drop...but Biden's policies made the price rise immediately?

That's a special flavor of koolaid.