Charging Is Driven By Gas

This week, the focus nationwide is the recently released consumer price index, which is our most widely watched inflation indicator. Wall Street believes that we will get some relief from the record high inflation at the beginning of this year. But they predicted that the inflation rate would remain above 8%, the level never seen in two generations.

In many ways, inflation is an infectious disease that affects everyone. It increases the cost of living, deprives savers of their real income, and makes the poor and marginalized more poor.

According to a recent survey by the Fury Search Center, 7 out of 10 Americans think inflation is our biggest problem. It is far higher than any other social problem.

There is no doubt that the American people have now been hurt. In order to maintain their lifestyle, many people began to use credit cards and began to borrow money with these plastic cards to make a living. Our income is falling every month. Step by step, our purchasing power declines with inflation. Consumer debt continues to rise.

Now one of the obvious things about inflation is that it seems to be everywhere. For years, the Federal Reserve has been fighting inflation, not inflation. Remember that when the real inflation was less than 2%, the inflation target was set at 2%?

The country’s demographic structure has led to deflation. With the retirement of the huge baby boomers, the rate of inflation has declined. The central bank is worried that prices may fall. Deflation is a problem that Japan has been facing for many years. They also have an aging population, always at low prices rather than high prices.

So we say: “; anti steamboat”; before the current president took office, he had been thinking about the price. After becoming President, Joe Biden went through two core stages to avoid inflation.

But before starting these two stages, let’s look at the core role of energy in China’s economic price structure.

In the recently released statistics, the Bureau of Labor Statistics, which is responsible for the calculation of CPI, said that 22% of energy was given a weight in the calculation. This means that energy is undoubtedly the most important single factor of inflation. Food is not as important as energy, but it is another important contributor. This is why they do not calculate the total CPI including food and energy.

In other words, there is a close relationship between energy prices and inflation. We see this every time we fill the car with petrol.

In 2021, when Biden became president, the gasoline price was 2.33 dollars per gallon. By June this year, gasoline prices had doubled to $5.10 a gallon. The inflation rate is over 9%.

The two stages Biden took led to this situation. First, he announced a comprehensive strike against oil and gas. During the election, Biden made it a priority to shut down the oil company. As part of this measure, he cancelled the pipeline and prevented oil supply from entering the market. The cancellation and postponement of oil leases on federal lands reduced potential oil supply by more than a quarter.

The response of the oil industry is to reduce exploration. We currently operate fewer than 600 oil wells in the country, one third less than in 2019. In the past 12 months, gasoline production has decreased by 9. Yes, the price of natural gas is high, but in today’s uncertain regulatory environment, exploration risks are too high.

The second major stage of President Biden’s push for soaring natural gas prices is the Russian sanctions. Biden suspended all oil imports from the country in response to Russia’s limited military operations in Ukraine. These revenues account for 8 to 10 per cent of the total supply of the United States. As a result, the United States had only 90 per cent of oil and gas before the sanctions. The balance comes from global individual investors and marginal suppliers. Of course, they are asking for high prices.

Now, whenever we discuss energy, there will be a series of auxiliary problems. It covers everything from actual protection and environmental issues to the apocalyptic panic of the end of the world. In fact, all these concerns should be raised. Many of them helped to build the American energy industry into the safest and cleanest industry in the world.

But in my opinion, the most important issue today is how to reduce inflation and its damage. Inflation is like a roaring hell, which will make the economy decline or worsen further.

First, we must put out the fire of inflation. To this end, we must overthrow the Biden government’s strict energy policy.

economic news

The EU ministers proposed that each member state reduce energy consumption by 10%. In the vote reported by the Wall Street Alliance held this morning, today’s action is just a proposal. In winter, it is suggested that the reduction should be increased to 15%. Yes, today’s proposal may be mandatory if there is not enough compliance.

The UK reported this morning that GDP grew by only 2/10% in the latest quarter. The economic growth was lower than analysts’ expectations, mainly due to the decline in production level caused by enterprise energy conservation. Overall, the UK economy grew 1.1% in the last two years after Pan Am

In the United States, we will get the latest consumer expectation for inflation, which is slightly lower than our last expectation of 6.2%. The latest inflation figures will be released tomorrow.

With the end of the quarter, the profit outlook is good. Later this afternoon, the e-commerce support company Brand Incorporated will release a report. Larry Ellison’s company was the last company to announce its results, so Oracle system followed suit.