(03-08-2022, 11:56 AM)NewJagsCity Wrote:

(03-08-2022, 03:42 AM)captivating Wrote: In April 2020, oil future dropped to -$37 a barrel.  They were paying you -$37 to take possession of a barrel of oil.  Why didn't the Government at the time step in a buy a huge inventory of oil.  They could have continued to buy at $16 a barrel.

I guess the MSM focus then was on how many people the Gov was killing due to their 'hideous mishandling' of the Pandemic.  They would have gone ape [BLEEP] if the government prioritized spending money on anything else.

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(03-08-2022, 07:07 AM)The Real Marty Wrote: Biden is caught between 3 competing ideas: fighting inflation, cutting off Russian oil, and fighting climate change. 

Cutting off Russian oil would would require a collective effort by all the Western democracies, not just the US.  But if they managed to do that, the price of oil would probably go over $150 a barrel, and that would cause massive inflation and recession, and damage public support for helping Ukraine. 

Presidents are often faced with a situation where they have to thread that needle.  It's what made Lincoln such a great President: he managed to constantly balance competing interests.

If the standard you are setting here is Biden v. Lincoln, then we are doomed.

Obviously, I was not comparing Biden and Lincoln.  I was simply saying, being a successful President often comes from managing two conflicting things.  

Biden is caught between his desire to punish Putin and his desire to keep the left wing of his party under control.  To me, the best thing he can do would be to send a strong signal that he intends to increase domestic production of oil.  But that would cause a rebellion in the left wing of his party.   

And interestingly, the same people who criticize Biden for high gas prices pushed him to cut off Russian oil, which will push gas prices even higher.  

It takes a great politician to be a great President.  It's why I don't like electing non-politicians to public office.

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