Todays press briefing was still ongoing a minute ago but they usually post what was said here.
Here is the video, starts at 23:45Todays press briefing was still ongoing a minute ago but they usually post what was said here.
Press Briefings Archives | The White House
Transcripts of press briefings and statements from the White House Press Secretary.www.whitehouse.gov
So did tariffs
Jinx
They are a tax on imports paid by the importer not the ones in China doing the exporting. The goal is pressure people to buy from home. Not A bad idea but also a dangerous way of implementing it. So trumps tariffs added 2k a year to the average household. That means due to the increase cost of the import tariffs people had to raise prices of goods.....inflation......and then when hit with the pandemic an already shoddy supply chain crumbled and inflation exploded as things became harder to get.
www.forbes.com
The first that really annoyed me was on container chassis from China. It was enacted to make US chassis builders more competitive on the domestic market place but most weren't ready to handle the flood of need that came in late 21 so we are still left with a container/trucker/chassis imbalance. This means American mfg/reseller is having to pay demurrage charges to the port and potentially per diem charges to the steamship line and that cost is passed along to the consumer.
I know a lot of business abandoned Chinese sources for other SE Asian countries or for Mexico due to this tariff but a lot of those countries went into full covid lockdown which as you said caused things to crumble and prices to really skyrocket. Then you had the fight for vessel space once those countries came back online and a huge amount of blank sailings or FAK/spot rates which were in the $20-$30k range to move a box from SE Asia to a US port. Tough pill when you use to be able to move that same box for as low as $2500-$3500. Now with most ports, steamship lines, and truckers waiving liability for charges incurred along with reducing their free days from 10 to 4, and the live unload window for 2 hours to 1 the extra charges that used to be near $0 that the American business paid can be as much as $5000 per container.They are a tax on imports paid by the importer not the ones in China doing the exporting. The goal is pressure people to buy from home. Not A bad idea but also a dangerous way of implementing it. So trumps tariffs added 2k a year to the average household. That means due to the increase cost of the import tariffs people had to raise prices of goods.....inflation......and then when hit with the pandemic an already shoddy supply chain crumbled and inflation exploded as things became harder to get.
Trump Tariffs Will Soon Cost U.S. Families Thousands of Dollars A Year
Donald Trump’s tariffs on Chinese-made imports have raised the price of shoes, clothes, electronics and many other items for Americans.
Yeah these policies are always more complex then the messaging leads you to believe. And I agree totally with the price of food issue, we raise more then enough grains in this country to offset the rising cost but hearing them sitting at ports to spoil due stupid contracts/policies. Reminds me of Gov't contracts with farmers where they can only produce a certain quota on a certain acreage, I've literally seen fields left unharvested and/or destroyed because they would surpass the quota and make less. Seems so foolish but big box greed and Gov't regs will do that
Good point! I have been saying this for 2 years here. There is no such thing as fiscal responsibility in our government anymore and it never will be again because it has gotten too deep in the BS. I have zero issues with wanting to upgrade our infrastructure and I could have gotten behind the Democrats on this but that isn't what they want and they flat out lie about it. They want to kill the oil industry and don't care who they hurt along the way (The people who vote for them). There is going to be new leadership in the house and prob the senate next year. Will it change anything? Just getting Pelosi away from house speaker is a damn great start
Best post ever . Please ban anyone who doesn’t see this . It’s the cold hard truth . We are being lied too. Dems are scrambling to cover face . They dropped their mandates and are desperate to find something to stick the economic problems on . Be it Putin or the pandemic . Maybe they will come up with a Putin pandemic . New coronavirus strain that makes you become a Russian colluder with extreme vodka alcoholism .
I know , mandates are what I was mostly referring too for the dems .
I keep hearing this "record year" on oil and NG production. That's great to hear! It means absolutely NOTHING to me right now when I have I go to fill up or go to the grocery store. The decline started when Joe Biden was elected and I think the majority of America is tired of the excuses and blame. The proof is in the pudding.......We have enough natural resources in our own ground to put a stop to many of these problems but we are NOT moving in that direction today, tomorrow, nect year or the year after that
We were energy independent up until about a few weeks ago.
And they also stated today that is would be "temporary".
Did they say how long "temporary" was in their world?.....lol. That's the trillion dollar question! You never know with that crowd of geniuses
Well today temporary means just before the end of the year, according to them
Alot of people heard the word "energy independent" and thought it meant we no longer imported oil / other forms of energy. We were still importing ~10 million barrels of petroleum per day in 2019 (energy independence year). It was really just a political buzz word.A good break down on energy dependency.
The myth of US 'energy independence'
The United States has long relied on foreign oil, something no U.S. president can easily change--even if they claim otherwise.news.yahoo.com
Yeah outbound has gotten better as long as it stays east of the rockies we are still having trouble into the west coast states most carriers aren't even bidding that freight now. Our big issue is still drayage and chassis, I'm getting hammered by my boss and our leaders to figure it out but short of driving the truck and building a chassis in my garage I'm not sure what I'm supposed to do
No we didn't think that, in fact most of us knew we were still importing from other locations, the key is not being totally dependent on those countries so if something like now happens, we aren't at their mercy.
Did we import sweet crude for Texas T? What type was imported? Not trying to single you out. Just pointing out most people don't understand the complexity of the oil industry.
Not you necessarily, but that is how alot of people were lead to think of it. We were still absolutely dependent on other nations as alot of the oil we produce is exported. If the global supply is reduced (pandemic, war, etc) the global price goes up, domestic oil companies are not going to sell to US consumers at a discount. It will be sold to us at market price which is what we are seeing now.
Don't know... I would imagine it is different based on number of countries we import from. But yes it's complex and different oil used for different things.
