Showing posts with label fracking. Show all posts
Showing posts with label fracking. Show all posts

Tuesday, December 13, 2022

Another inflation report is out, the data are bad, but they're trying to spin it that inflation is moderating

 The government's chief inflation measure, so-called core inflation which excludes food and energy (third graph), ticked down to 6% in November. Big whoop. Core inflation has now averaged 6.3% throughout 2022, and was actually slightly lower year over year for two months in the summer than it was in November.

The Fed is failing in its effort to bring inflation down, plain and simple.

Higher prices are the new normal.

Meanwhile food inflation is up 12% year over year after peaking above 13% in the summer. Under Trump food inflation was practically non-existent, but Americans have been forced to cope with it month after month for over a year now, with no end in sight.

And energy inflation year over year has been north of 13% for 21 consecutive months. Go ahead. Count 'em. Under Trump we actually had energy disinflation because his administration, unlike Biden's, enthusiastically supported fracking.

Rising food and energy costs are absolutely core, especially when they deliver a one-two punch to the gut like this.

The people hardest hit don't have a voice, however. They never do. The chattering classes are doing just fine, and all they want to talk about is nonsense. Their lot is with the profiteers from inflation, not with the bottom half of the country.

The poor get poorer.

Same as it ever was.





Thursday, February 20, 2020

Pennsylvania Democrats aren't stupid, the ones paying attention believe Biden +8, Klobuchar +7 and Bloomie +6 are better than anti-fracking Comrades Butt, Pocahonky and Bernie

Pennsylvania kinda slow on the uptake about Comrade Butt +4, however, who hides his anti-fracking unlike Bernie +2.6 and Pocahonky +3, who both would end it and plunge America into deep energy trouble.

Friday, February 14, 2020

The only thing saving industrial production in this country since 2007, up less than 5%, has been fracking to mine oil and gas

It has had little to do with Trump or Obama either way, political support or no political support.

The only thing giving an additional recent boost to oil and gas was the 2015 bipartisan agreement to end the oil export ban, signed by Obama.

Industrial production from all mining categories is up almost 17% 2015-2019, and a whopping 53% 2007-2019.

Industrial production from coal mining, a subset of this like oil and gas, is down over 39% since 2007, and 21% since 2015 despite Trump's promise to restore the industry. Industrial production from base metals mining is up less than 3% since 2007. Industrial production from gold and silver mining is down almost 15%.

Industrial production from crude oil mining is up a whopping 140% since 2007, and from natural gas 79% from 2007 through November 2019 on an average basis.

Otherwise it's a sorry picture.

Industrial production from manufacturing is down 1.3% 2007-2019, despite Trump running on bringing manufacturing back to the United States.

And industrial production from electric and gas utilities has grown a paltry 2% 2007-2019.

It's all mining of crude oil and natural gas.

If the anti-capitalist climate kooks get their way, we're all in big trouble.



Thursday, December 5, 2019

Biden in the cat bird seat: Just as Bernie tanked after promising criminals will get to vote, Warren has tanked after hedging on Medicare for all

Ezra Klein, here:

One lesson of the past few weeks is that the Medicare-for-all debate has become a minefield for Democrats — and it’s not clear that any candidate has a safe path through it.

Sen. Elizabeth Warren has dropped 14 points since October 8, when she briefly led the Democratic field in the RealClearPolitics polling average. Most attribute her decline to her handling of Medicare-for-all — the financing plan she released made her the target of attacks from the moderates, and then the transition plan she released, which envisions a robust public option in the first year of her presidency and only moving to Medicare-for-all in year three, left single-payer advocates unnerved about her commitment to the cause.

The Democrat left has been its own worst enemy.

In addition to alienating working people by going soft on crime, the people who bear the brunt of it,  Bernie has notably lost ground with the working class by flipping on immigration restriction. Every new immigrant drives down their wages when immigrants are not taking their jobs outright.

For her part, on top of hedging on Medicare for all, Warren has rolled out a veritable cornucopia of crazy in this campaign, including a ban on all fracking in the US and ending the Electoral College. Combined with the recent lying about the little details of her life, voters justifiably doubt her sincerity on these larger issues and suspect that she cares about little except getting the power into her hands.

Hence the default candidate still on top, Joe Biden.

America's political institutions are still so structured that even when radicals like Obama do win, those institutions frustrate their aims. The upside of this is that harmful radicalism is usually stopped in its tracks. The downside is that mediocrities and grotesques are produced.

Just as Obama was content to let his Clinton retreads handle the Great Financial Crisis resulting in the still poor full time employment, moribund GDP, unaffordable housing and low interest rates catastrophic to income portfolios of the present time, Obama provided zero leadership on healthcare reform. This resulted in the competing Democrat House and Senate versions which consumed his first year in office, and eventually produced the Affordable Care Act camel, a horse designed by a committee. He sure did enjoy watching basketball in the private residence, though, and went on to make the Bush tax cuts permanent after winning re-election in 2012. Some radical, huh?

The same thing has happened with Trump. Although promising us the moon about immigration, healthcare reform and foreign wars, he instead delivered tax reform mostly for the corporations and huge spending increases for the military industrial complex, which is the basic consensus of the Republican caucus in Congress, foolishly hoping that they would give him a little somethin' somethin' in return.

Nothing doing. Even trade realignment will disappear when Trump does.

Trump's problem is that he never had a political faction holding any seats in Congress to drive his agenda. He just assumed the existing members would adopt his positions, which is pretty damn naive considering how he attacked and alienated them all throughout 2015-2016. Instead, Trump has steadily moved away from his own positions and adopted theirs, for his own political survival.

Trump's porous bollard fencing instead of the real wall he promised is simply the most public symbol of this, going back as it does to the George W. Bush administration.

The only radical realignment we have seen is the realignment of the radicals with their respective parties, and Election 2020 will be the same old, same old fight between them.

Those who won't realign get discarded.

This is the tyranny of the legislative. And the only way to remedy this is to repeal the 22nd Amendment to the Constitution, the great mistake of 1951. Only the threat of a Trump or an Obama perpetually in the White House will restore the balance of power between the three branches of government and advance the interests of the people who vote for the president.

As things stand, the best we can hope for is a president desperately stacking the courts to increase his power in a tyranny of the judiciary, which is hardly the remedy intended by the founders and is unacceptable to Americans loyal to the constitution and the nation as founded. The three stooges of the law schools on display at the impeachment hearing yesterday are proof enough of that. 

Saturday, September 7, 2019

Monday, March 25, 2019

David Axelrod still pretends that the Russian hack of the DNC servers is a solid fact when it's not

Matt Taibbi knows better ("Russiagate is WMD times a million" is the original html), Axelrod's the hack:

I didn’t really address the case that Russia hacked the DNC, content to stipulate it for now. I was told early on that this piece of the story seemed “solid,” but even that assertion has remained un-bolstered since then, still based on an “assessment” by those same intelligence services that always had issues, including the use of things like RT’s “anti-American” coverage of fracking as part of its case. The government didn’t even examine the DNC’s server, the kind of detail that used to make reporters nervous.

Thursday, November 29, 2018

Barack Obama lets one go: "Suddenly America's like the biggest . . . gas, that was me, people"


Whooooooweeeeee, that one smells:








The blocked rule would not have affected most fracking operations in the United States, since it would have applied only to fracking on federal lands. The vast majority of fracking in the United States — almost 90 percent — is done on state and private land and is governed by state and local regulations. The rule was unlikely to have stopped most new fracking on public lands, although oil and gas companies complained that it could have slowed operations by creating burdensome paperwork.






Wednesday, December 10, 2014

Flashback to Feb. 2012: Newt Gingrich was mocked and worse by Obama and company for saying $2.50 gas was possible, but it's happening right now

Newt, deservedly doin' The Mussolini
Obama called Gingrich's promise of $2.50/gallon gas a "phony election-year promise" in 2012 here. The White House spokesman lying shill Jay Carney chimed in calling it a lie, here. Pure projection syndrome.

Two and a half years later and everywhere across this country the price of gasoline is plummeting toward an average of $2.50 and lower because of the success of drill-baby-drill-fracking on private lands, and the Feds haven't had one damn thing to do with it.

The average price in Grand Rapids, Michigan, tonight is $2.539 with prices falling. Smart shoppers at Sam's Club here tonight can get gas for $2.469. Prices in many southern tier states of this great country are already paying well below $2.50, for example $2.20 in Texas City, TX, $2.25 in Memphis, TN, and $2.30 in West Monroe, LA. Go duck men, go.

Newt Gingrich was right. Obama and company are idiots.

Wednesday, August 8, 2012

Single Investor Buys 650 Macomb County Michigan Tax Foreclosures For $4.8 Million

It was a package deal in which every tax delinquent property was sold to the investor, not just the nice ones.

Story with links here.

The buyer wasn't a Wall Street vulture, but now that he's got them he can certainly resell them.

I wonder if there's a fracking angle?

Sunday, June 24, 2012

Climate Geezer James Lovelock: We Should Be Going Mad On Methane

James Lovelock, global warming godfather, erupts again, this time in favor of fracking, quoted here:

“Gas is almost a give-away in the U.S. at the moment. They’ve gone for fracking in a big way. This is what makes me very cross with the greens for trying to knock it … Let’s be pragmatic and sensible and get Britain to switch everything to methane. We should be going mad on it.”

He's not just in favor of fracking, he's in favor of science:

“One thing that being a scientist has taught me is that you can never be certain about anything. You never know the truth. You can only approach it and hope to get a bit nearer to it each time. You iterate towards the truth. You don’t know it.” 

Lovelock thinks the data show that increased warming has failed to materialize in the last fifteen years, calling the models he helped create into question.