As Russian Missiles Fly, Stocks Begin Their Fall
I would like to start off by saying that this article is not written with any political bias whatsoever. My goal is to simply state the facts as to why we are in such an enormous mess surrounding inflation and an impending stock market (economic) crash that may parallel or exceed what happened here in 2008–09.
Under the Trump administration, the US was Oil Rich and Oil Independent. The US Fracking industry was producing an amazing oil surplus that kept inflation in check and removed our dependence on Russian and OPEC Nation oil. As we know, this all changed with your new friend in the White House -namely Joe B.
It should be no surprise to us that in 2020, there was a drastic reversal to this Trump era oil accomplishment. Your new president always intended to stop the flow of oil from key pipelines and key producers because of his far-left rhetoric surrounding supposed disasters that can happen in 60 years from “climate change.” To me, it is astonishing to see how quickly he moved to accomplish this. His hatred toward the previous administration’s accomplishment blinded him, as he feverishly started sending production abroad to producers in Russia and Middle Eastern nations. All the while chanting his commitment to ‘reduce greenhouse gases’, which in this author’s opinion, is at best questionable.
Now we see an enormous mess tied to the Russian invasion of our friends in the Ukraine, and allot of back-peddling from many of Biden’s advisors –that were so anti-oil and pro climate-change. As recently as September of last year, Joe was imploring OPEC and Russia to increase production because he stifled oil production here (and killed allot of oil jobs I might add). Do you know what the Crown Prince of Saudi Arabia is now doing? He is laughing at us and digging his heals in the ground…while even slowing production to further inflate prices and increase his national treasury.
Again, it is no surprise at all we are faced with skyrocketing inflation, as prices of almost everything we buy are connected to oil (think about the oil-gasoline needed to transport food to markets for example). Remember, you elected President Biden because he made a campaign pledge to end federal oil and gas drilling and fight…