Adding LNG terminals in the US would actually have an effect of increasing natural gas prices for the US consumer as US prices would be trending towards equilibrium with world markets and these are big and hungry markets. Hence, unlike with natural gas, US has to continue to import oil products at world market prices which further means that any increase of oil production in the US helps US consumer only to an extent that it affects world markets and these are big and hungry markets. Further reality is that shale oil cannot be refined in the US since it is a light grade oil and big oil has not built a single new refinery since ~1970-ies.
#SYNDICATE PROJECT HOODIE PATCH#
The reality is that US shale patch is not increasing production as they once had been simply because they burned through ~300 billion US$ while they were at it and are now happy to cash in on high prices.
At the same time, cancellations of pipelines are the proverbial red herring. US is not alone in this delusion, Europe is far worse, but Democrats champion it here. Now, having said the above, I am not a friend of global warming theory and it's influence on Democratic politics. All of this is literally threatening the end of the Republic as the disenchanted public turns to demagogues for answers to their, seemingly permanently and without recourse, deepening misery. Public debt tripled as the government is trying (likely in vain) to keep the country from complete collapse, back into the absurdity of permanent Great Depression from which US barely escaped once before through WW2. The total debt load of the US, relative to GDP, doubled since 1980, as did the private debt. We are looking at the economy which is succumbing to debt loads that have ballooned under this regime as labor got crushed and it's income was replaced by debt. We are standing today at the bitter end of "Market Uber Alles" social experiment, tirelessly promoted by Mr Boskin and his confederates.
#SYNDICATE PROJECT HOODIE PLUS#
The administration’s own delayed data release late last month reveals a record-shattering 2.4 million border-patrol encounters for the fiscal year, plus an estimated half-million illegal migrants who evaded an encounter.įirst (and maybe foremost) Mr Boskin from Heritage Foundation accusing anyone of squandering credibility is, shall we say, rich. Most recently, Biden and Homeland Security Secretary Alejandro Mayorkas have repeatedly asserted that America’s southern border is secure, even though they know perfectly well that it is not. I am not talking about embarrassing misjudgments, like the administration’s costly belief that rising inflation was “transitory.” Political misinformation falls along a spectrum, from the Biden administration repeatedly defending ridiculous statements (the Afghan withdrawal was a success) and shifting blame (expensive gas is due to “Putin’s price hike”) to his predecessors Donald Trump cherry-picking pandemic data and Bill Clinton relying on semantic obfuscation. While every administration exaggerates to some extent, misleading claims have become more problematic in today’s changing policymaking environment. STANFORD – President Joe Biden’s administration is not serving US economic, energy, or national security when it issues unrealistic statements and assessments of what each requires.
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