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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: rdkflorida2 who wrote (13279)	3/12/2022 10:21:07 AM
From: Kirk ©	1 Recommendation Recommended By robert b furman Read Replies (1) \| Respond to of 26822

So you don't think sending $1,400 to everyone who made less than $75K about this time last year plus $300 a month per kid added to people not needing to get a job or having more money to drive up prices when there was low supply? All that money also made it possible for many two income families to keep one parent at home. I cannot find anything that Biden did where I can draw a "direct" line to higher prices I'd suggest starting with taking off your blinders. My guess is closing and keeping schools with union teachers closed for COVID also contributed to massive inflation because many workers stayed home to care for kids. This made everything involving workers more expensive.

To: rdkflorida2 who wrote (13279)	3/12/2022 10:37:32 AM
From: Kirk ©	Read Replies (1) \| Respond to of 26822

Crude production in 2021 was below 2018 and 2019 levels. 2020 was the depth of COVID before any vaccines or protocols to keep people safer with masking... so it should be the low. eia.gov Did you notice more and more families were buying big trucks with back seats that I think allowed them to get around some of Obama's efforts to increase the fleet mileage? My guess is it was a concession to the unions and auto industry so they could keep producing big, gasoline hog SUVs (disguised as work trucks) that people wanted to buy rather than what would save the planet with lower emissions. Some/most of the GOP are owned by the hedge fund billionaires and most of the Democrats are owned by the unions. BOTH "relationships" have hurt the country in many ways those with blinders on for their "party loyalty" refuse to see. U.S. Field Production of Crude Oil (Thousand Barrels per Day)

To: rdkflorida2 who wrote (13279)	3/12/2022 11:20:41 AM
From: robert b furman	1 Recommendation Recommended By Kirk © Read Replies (1) \| Respond to of 26822

Hi RD, The production levels during the pandemic vs after a pandemic may not properly reflect the pumping potential during both periods. The impact of the pandemic temporarily reduced demand for crude - an anomaly for sure. Keep in mind that to keep even with production potential, wells must continue to be drilled, as wells have a 5 to 6 percent depletion rate. The way to track crude production max potential correlates well over time to the number of drilling rigs working. Number of drilling rigs has been halved and is slowly recovering. The price of crude will inflate and go higher as the reduced level of drilling lags the increased demand for crude as we gain normalcy out of the pandemic. Biden's view on fossil fuel has aligned from day one as something that should be discontinued. His energy secretary laughed at the idea of drilling and increasing production. Their view on fossil fuels was clearly derogatory. Their view was to maximize renewables and reduce the carbon footprint. They were very open about it. Now that demand has been boosted, and the potential shortage of crude appears to be imminent, the administration is blaming everybody but them selves. To support their now false claims of being supportive of more drilling way back on the first day of Biden's presidency is either an out right lye or your mid term memory is very lacking. They were the greenest of green an administration has ever been. Very vocal and loudly proud about it. They did so wanting the support of the green low carbon environmentalists. You trying to cover that up with cooked up numbers that don't go deep enough into the looming shortfall and the inevitable rise in energy costs does not reflect well on the facts. I don't mean to get into a food fight with you as we've had many a conversation over he years. Put plainly your politics is clouding your understanding of the facts. I'd propose you view the European experience as a parallel to what is happening here in the USA. Energy costs are going up! Why? Primarily because we have lost energy independence - which is a long term fight to keep supply on the excess vs the shortage situation. When the US loses energy independence, the price of energy succumbs to the greed and increase of the cost to purchase and import crude - USUALLY BY A MULTIPLE OF 2 TO 3 TIMES WHAT IT WAS! OPEC + has a track record of sticking it to the world - EVERYTIME THEY CAN! It is totally fair to say that an over zealous desire to become carbon free, while the technology to quickly provide the new and better alternative before we weaned ourselves from crude was ignored and'/or incompetently employed by the Biden Administration. Biden chose the political road and votes associated with it, to less carbon and did not anticipate the historical precedent for the last 50 years of a GREEDY OPEC + waiting for the world to need what only they had the ability to quickly provide EXCESS PRODUCTION CAPABILITY. Biden is not sharp enough to make the beneficial business decisions that impact all Americans. He is what he has always been, a political beast who chases issues based on the perceived votes of the constituencies that support that issue. Biden then falsely claims to be a Uniter for All Americans, yet he adopts policies that economically hurt all Americans. In short he is a politician and not a deep thinker who can negotiate the issues and bring success to ALL in the American populace. He's NOT used to WINNING on the world economic stage. The American public has now seen that. It is further offensive for him to lie about his mistakes and blame everyone and their brother for his poor policies and lack of strategic thinking. Joe is a low energy plagiarist. He has a long track record of copying others work. He does this in speeches andthe use of many cliche's. Biden has also done this in copying Europe's approach to lowering a country's carbon footprint. It was a failed experiment there, that did not move the needle.It did drive up the cost of energy to everyone. So much so that the government taxes the wealthy and rebates the poor (such that they control them) and their industry (such that they remain competitive). It's all about working government into the control of all things. It is inefficient and stifling. We here in the US are blessed with natural resources - IF we are allowed to harvest them. It is with deregulation and letting business operate in a free market based pricing system that we will once again gain energy independence (and as a corollary reduce the cost of energy through competition). That solution is not even in the cards with your Democratic friends. They want an excise tax, so they can redistribute the wealth. Do you not see the parallels to this kind of control, excess regulation, and ultimately inefficient use of money and resources? Covering up for this errant thinking is a huge mistake and misleading at best. If we as a country do not get back to less regulation and "BIG Government" is the problem kind of thinking, our rise in quality of lifestyle will surely diminish. Good people like you with good intentions need to change your views as to how we get there! imo William Jefferson Clinton saw the need for that change after the Dems lost the house and Senate after the election (in1990?). It infuriated the far left as he pivoted, but Clinton was rewarded with a great economy and a second term! We need people like you to make the change early. Big government is not the answer. Big government and big regulation is a less efficient country. Big government is an elitist based mind set promoted in our liberal universities, where those who have been educated truly believe they're smarter than the little hardworking guy. They know better how to spend his money. They want all the money and all the control. It stifles the little guys rights and freedoms. I'd submit we are all little guys here on SI! Our country is far better than that elitist approach. Power to the little guy, to decide how he spends his money. If he has common sense (and many do not) we as a country will prevail and prosper. Those rights and freedoms to choose are woven into our country's fabric. IMO, it is the single best feature that ensures our continual dominance and leadership in this World. We need people like you to agree on that and think about where each party will take us in this year's election and in 2024 as well as all of the future. I hope you give this a good ponder and fair review. Bob