Bidenomics At Work
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wrote on 8 Mar 2024, 21:16 last edited by
The point is, @Axtremus , the administration can put out whatever dubious jobs numbers they want and revise them 3 months later. That doesn't change the fact that the guy that has been laid off and is now working part-time and just had to get new brakes for $300 more and just saw his insurance go up 30% isn't going to be feeling great about the economy right now.
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The point is, @Axtremus , the administration can put out whatever dubious jobs numbers they want and revise them 3 months later. That doesn't change the fact that the guy that has been laid off and is now working part-time and just had to get new brakes for $300 more and just saw his insurance go up 30% isn't going to be feeling great about the economy right now.
wrote on 8 Mar 2024, 21:24 last edited by@LuFins-Dad , the BLS has been using the same methodology to assess employment statistics and the same methodology to revise the statistics for a very long time. The BLS employment statistics you see from the current administration is no more or less misleading that those from the previous administration or the one before that.
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wrote on 8 Mar 2024, 22:06 last edited by
Revisions have always been a monthly occurrence. However, those revisions have always been ~ 5%, and were revised upwards as well as downward. Since Biden’s administration began, the revisions are typically ~20%, as much as 30%, and are almost always revised downwards. It’s a joke.
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https://www.usatoday.com/story/money/2024/03/08/february-jobs-report/72883297007/
Jobs report: Economy added stronger-than-expected 275,000 jobs in February (2024)
39 months of consecutive job growth!
Unemployment rate ticked up to 3.9%
wrote on 8 Mar 2024, 23:43 last edited by@Axtremus said in Bidenomics At Work:
https://www.usatoday.com/story/money/2024/03/08/february-jobs-report/72883297007/
Jobs report: Economy added stronger-than-expected 275,000 jobs in February (2024)
39 months of consecutive job growth!
Unemployment rate ticked up to 3.9%
Damn, that's a lot of part-time jobs!
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@Axtremus said in Bidenomics At Work:
https://www.usatoday.com/story/money/2024/03/08/february-jobs-report/72883297007/
Jobs report: Economy added stronger-than-expected 275,000 jobs in February (2024)
39 months of consecutive job growth!
Unemployment rate ticked up to 3.9%
Damn, that's a lot of part-time jobs!
wrote on 8 Mar 2024, 23:49 last edited by@Jolly said in Bidenomics At Work:
@Axtremus said in Bidenomics At Work:
https://www.usatoday.com/story/money/2024/03/08/february-jobs-report/72883297007/
Jobs report: Economy added stronger-than-expected 275,000 jobs in February (2024)
39 months of consecutive job growth!
Unemployment rate ticked up to 3.9%
Damn, that's a lot of part-time jobs!
That used to be full time…
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There have been 7 downward revisions and 1 upward revisions through August.
In 2022 there were 7 upward revisions and 5 down.
In 2021 there were 11 upward revisions and 1 downwards.
So the majority of months since his inauguration the BLS underestimated the sheer awesomeness of Bidenomics.
wrote on 9 Mar 2024, 00:05 last edited by@jon-nyc said in Bidenomics At Work:
There have been 7 downward revisions and 1 upward revisions through August.
In 2022 there were 7 upward revisions and 5 down.
In 2021 there were 11 upward revisions and 1 downwards.
So the majority of months since his inauguration the BLS underestimated the sheer awesomeness of Bidenomics.
@LuFins-Dad FYI
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We’re setting oil production records under Biden.
U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast. That’s up from the most recent trough of 5 million barrels a day in 2008, and probably enough to help the U.S. to keep its title as the No. 1 global crude oil producer.
But what about federal lands?
In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.
wrote on 12 Mar 2024, 01:54 last edited by@jon-nyc said in Bidenomics At Work:
We’re setting oil production records under Biden.
U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast. That’s up from the most recent trough of 5 million barrels a day in 2008, and probably enough to help the U.S. to keep its title as the No. 1 global crude oil producer.
But what about federal lands?
In fact, though, oil production from federal lands and waters has risen on Biden’s watch, reaching past 3 million barrels per day last year. The high mark during President Donald Trump’s term was 2.75 million barrels a day.
And record production continues. Gosh darn President Biden!!!!
https://energynow.com/2024/03/u-s-leads-global-oil-production-for-sixth-straight-year-eia/
U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday.
In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the agency said.
“The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row,” the EIA added.
The EIA says it is unlikely that the record will be broken by another country in the near term.
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wrote on 13 Mar 2024, 17:36 last edited by
BTW, since we're producing oil at an unheard of rate under The Rez, why has gas gone up 60/gallon cents in 60 days?
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BTW, since we're producing oil at an unheard of rate under The Rez, why has gas gone up 60/gallon cents in 60 days?
wrote on 15 Mar 2024, 01:11 last edited by@Jolly said in Bidenomics At Work:
BTW, since we're producing oil at an unheard of rate under The Rez, why has gas gone up 60/gallon cents in 60 days?
"Refinery utilization."
One example:
https://www.reuters.com/business/energy/power-loss-forces-bp-shut-biggest-us-midwest-refinery-2024-02-02/A friend of a friend was telling me what a nightmare that will be to restart that refinery. It is many many years old, and has been revamped and changed, etc. Probably never fully shut down in 50 years.
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wrote on 15 Mar 2024, 03:26 last edited by
Ma'am, I don't think we down here, get a pint of gas from that refinery.
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wrote on 15 Mar 2024, 15:11 last edited by
@Jolly Exactly, so to replace the gas that is lost because of the shutting down of that refinery, it comes from other refineries, like those close to you.
Supply decreases. Demand no change. Prices increase.
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wrote on 15 Mar 2024, 17:55 last edited by
But, but, Mr. Biden is producing lots of petroleum!
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wrote on 16 Mar 2024, 15:43 last edited by
LOL. @jolly. I think you are stretching a bit to blame the higher gas prices on President Biden.
Its like me saying that it is all President Trump's fault that he did not get more refineries built when he was president. That is what is the current cause of the short refinery ultiltization.
Im sure that @Renauda probably has better insight on capacity and demand in oil market.
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wrote on 16 Mar 2024, 17:09 last edited by
If you want new refineries "now" the time to start building them was 4~5 years ago.
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wrote on 16 Mar 2024, 19:33 last edited by
@Axtremus said in Bidenomics At Work:
If you want new refineries "now" the time to start building them was 4~5 years ago.
Marathon was built in 1977. The next U.S. refinery was permitted and built during the Trump Administration.
Is Mr. Resident permitting any new refineries?
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@Axtremus said in Bidenomics At Work:
If you want new refineries "now" the time to start building them was 4~5 years ago.
Marathon was built in 1977. The next U.S. refinery was permitted and built during the Trump Administration.
Is Mr. Resident permitting any new refineries?
wrote on 17 Mar 2024, 02:14 last edited by@Jolly said in Bidenomics At Work:
built during the Trump Administration.
Started up in 2022, due the overall guidance of President Biden. LOL
The reason the refinery was construct was to make ULSD (Ultra low sulfur diesel) for ships. The requirement for ULSD for ships was passed in during President Obama term, so we can say that he was responsible for this building of the refinery. (Even though the sulfur requirement is an international requirement)
(My point is that it is a stretch to say that one president or another is solely responsible for high/low gas prices. There is so so much out of their control)
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wrote on 17 Mar 2024, 03:06 last edited by
@Axtremus said in Bidenomics At Work:
If you want new refineries "now" the time to start building them was 4~5 years ago.
Probably more like 20 years ago or more. We don’t like to build things anymore.
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@Axtremus said in Bidenomics At Work:
If you want new refineries "now" the time to start building them was 4~5 years ago.
Probably more like 20 years ago or more. We don’t like to build things anymore.
wrote on 17 Mar 2024, 13:20 last edited by Copper@jon-nyc said in Bidenomics At Work:
We don’t like to build things anymore.
Front page this morning.
Demand growing for subs, workers
Newport News Shipbuilding hiring thousands as Navy’s needs continue to rise
By Caitlyn Burchett Staff writer
As the demand for nuclear-powered submarines increases, Newport News Shipbuilding said it’s working to hire 3,000 skilled trades workers this year and a total of 19,000 within the decade.
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wrote on 17 Mar 2024, 13:26 last edited by
