Tag Archives: Gasoline

Does Anyone On The Political Left Go Grocery Shopping Or Buy Gasoline?

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On Thursday, BizPacReview posted an article about the mainstream media’s spin on America’s current economy. If it were not sad, it would be funny.

The article reports:

MSNBC host Stephanie Ruhle is telling Americans not to believe their lying eyes, that President Biden’s economy is fantastic and they are better off economically than they mistakenly believe.

The condescension and gaslighting have kicked into full gear as the presidential election nears. Despite Americans struggling to put food on the table, a roof over their heads, and clothes on their children’s backs, Ruhle is telling them they are basically dimwitted and don’t appreciate how good they have it.

“We need an economic explainer,” Ruhle told the president and CEO of the Federal Reserve Bank of Chicago, Austan Goolsbee. “People are confused, they’re exhausted, but they’re also doing quite well.”

“Ruhle, who hosts MSNBC’s ‘The Eleventh Hour,’ had been discussing a recent Federal Reserve report that ‘shows people are still struggling to cover day-to-day expenses, even as inflation has slowed.’ She noted how some major brands are responding by enticing consumers with slashed prices, ‘Target says it is cutting prices on 5,000 essential items, things like milk, butter, pet food. Wendy’s is now offering a $3 breakfast deal. And rivals like McDonald’s are offering new lower-priced value meals,’” Fox Business reported.

The article includes the following screenshot:

This is not the result of corporate greed as President Biden likes to claim–it is the result of companies trying to stay in business after their operating costs skyrocket. Anyone who eats and drives knows that we were much better off four years ago. The problem with inflation is that prices very rarely go back down to where they were.

The Only Thing That Lasts Forever Is A Government Program

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The only thing that lasts forever is a government program–whether it works or not. This weekend’s Wall Street Journal (no link–subscribers only) posted an article about the government’s Ethanol policies. The use of Ethanol is raising the price of gasoline at the pump and is partially responsible for the increase in gasoline prices this summer.

The article reports:

In 2007 the Bush Administration and Congress mandated how much ethanol the oil and gas industry must purchase each year to be blended into gasoline. This year it is 13.8 billion gallons. The quotas were established when Washington thought gas consumption would rise year after year, but instead it has fallen.

But even though the program does not fit the current scenario, the program continues. American motorists will not buy gasoline that is more than 10 percent Ethanol because it costs more and can be damaging to engines, but because of the purchase requirements set on the oil and gas industry by the government, we are approaching the point where the required Ethanol would result in more than 10 percent of gasoline consumption. Because of this refiners have to buy energy credits for the Ethanol they don’t use (sounds like Cap and Trade). The credits are called Renewable Identification Numbers (RIN). The cost of an RIN used to be less than 10 cents a gallon. It is now $1.40. This translates into roughly 10 cents a gallon for consumers. As a Senator, President Obama stated that high gasoline prices were not a bad thing. The fact that the government standards on Ethanol have not been adjusted or repealed helps keep those prices high.

The article also mentions:

But even environmentalists (including Al Gore) now concede that Ethanol probably increases carbon emissions.

If we are not helping the environment, why are we doing this?

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