Gold, silver, the Dow Jones Industrial Average and the U.S. economy are all down and getting worse.

This was expected when President Biden cut global energy production. The global food crisis was also planned. Record diesel prices and a fertilizer shortage created by Biden’s energy cuts reduced world food production.

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(77) comments

Charles Douglas

Well Mr. Miller, ...don't be to concerned! Know why? I will tell you. Red China has been given permission by the Biden Administration to buy up prime American Farm Land all over this nation! Now China is not buying up our food source so they can improve our food output, THEY WANT TO SHUT DOWN OUR FOOD SUPPLY, & STARVE OUR NATION! They send tons of Fentanyl across our Southern Borders by Drug Cartels in order to kill as many Americans as possible annually! This is why they have thousands of Americans acting as Surrogates in DC & around the nation! It is how they have deceived the WOKE-LEFT on their Green Energy Hoax! They have highly paid LOBBYISTS who are loyal to, & highly paid by China to push Climate Change here! China will become MEGA RICHER by selling America all the components & parts needed to go green while they remain on Fossil Fuel ⛽️ with Russia, India, Saudi Arabia, and other nations with common sense! The EU is in a pickle now with winter coming on for fuel to heat with. Didn't Trump warn those fools what Russia was going to do? They paid no attention! So I am anxious to see where they get Gas & Fuel from to heat their homes this winter because Russia has pulled the plug, or will pull it soon on their supplying winter fuel to Europe. They should not & cannot look to America for help, because AMERICA HAS BEEN BIDENIZED!

Gary Miller

Charles >Europe is cutting their forests for firewood and trying to import fire wood from Brasil, Canada and the US. AOC's plan for reducing emmisins has backfired on her. Over 200 coal fired power plants are being built or contracted. The European coal fired power plants they shut down are being

restored and restarted..The fastest growing industry may become back yard gardens.

George Croix

The climate of actual competent leadership is certainly in crisis….

Very ’progressive’….

Gary Scoggin

Biden is not cutting global energy production. Total global production is still growing at 1-2% per year. US energy production , which is about 15% of global, is also continuing to grow since the drop during the pandemic.

What is changing is that the world energy consumption is getting more efficient. Energy consumption in terms of CO2/MW is decreasing and GDP/MW is increasing. Those are good things.

George Croix

[thumbup]

Gary Miller

Gary S. > If you think Biden's cutting the world energy supply by restriction of the worlds largest energy producer is a good thing I'll bet you like inflation and are hoping for a recession. Other things Biden is responcible for. No president has ever destroyed as many retirement. plans, food security or family budgets than Slow Joe.

Gary Scoggin

I'm not real happy with the job that Biden is doing and I have some disagreements with him on energy policy. But facts matter and the fact is that both US and global energy production is increasing. This makes the underlying premise of your essay incorrect.

By the way, the world's largest energy producer is China, but 70% of its energy productions is from burning coal.

George Croix

Have we returned to pre-COVID levels, Gary...

I know you're more in tune with that than Google and more unbiased, too.

Gary Scoggin

US Energy production has not returned to pre-Covid levels but neither has demand. But both are up markedly. The production growth lags the demand growth, thus the peak in prices, but as production starts to catch up, prices come down, as we've seen recently.

I personally think that we are in for permanently higher prices than pre-COVID. This has nothing to do with Biden or any other politician, its due to the fact that energy investors have gotten burned by responding too quickly and spending lots of money only to see over-production bottom out prices.

Also, the rebalance of the European energy situation as they (finally) reduce their reliance on Russia will increase demand for LNG, eventually putting demand pressure on US natural gas prices. One of my disagreements with Biden is that FERC and EPA should be fast-tracking permitting for LNG Export Terminals. It's a strategic, national security move to put increased economic pressure on Putin.

Gary Scoggin

By the way, I look at data from EIA (US Gov't) and IEA (a global energy data collection body). Also, the BP Statistical Review of World Energy is a great source. I worked with some of those folks from time to time. I think BP has the world's best energy economists.

George Croix

Thanks.

"This has nothing to do with Biden or any other politician, its due to the fact that energy investors have gotten burned by responding too quickly and spending lots of money only to see over-production bottom out prices."

You're an honest guy...are investors more likely to do so, given equal demand, where long term investment is not threatened, or where it is, or is it a strictly a profit at the moment game.

Charles Douglas

Mr. Miller> The United States has been BIDENIZED, & WOKED!!! They are the ones who want our military to go begging for FOOD Stamps & Lone Star Cards now!

They are kicking career military people out who are near retirement because they would NOT TAKE THE JAB! I call that being BIDENIZED, & WOKED!!!!!! This is what we get for letting China 🇨🇳 take over our complete government and putting their man in the Oval!!!!!! This is how we got the Green Deal nonsense, it is a Chinese Hoax I will NOT participate in!

Bailey Jones

From this morning's news -

The Biden administration just issued $190 million worth of leases for oil and gas in the Gulf of Mexico - 307 winning bids.

The EIA says they expect natural gas consumption to increase by 3.6 billion cubic feet per day (Bcf/d) in the United States during 2022 to average 86.6 Bcf/d for the year, the highest level on record.

West Texas Intermediate is trading at $85.554 as I write this.

Gary Miller

Bailey > Crude oil price has declined a little. It will go back up when Biden stops selling our emergency reserves to China. How much oil or gas do you expect from those new leases before they get drilling permits? winning bids added up to $190 million. All of which goes to the government.

Bailey Jones

Gary, Biden is not "selling our emergency reserves to China". Any oil that comes out of the strategic petroleum reserve must be sold on the open market to the highest bidder. That is the law. If a company that exports to China wants to buy it, that is their right. If American refiners don't want it, or lack the capacity to refine it, that's their loss.

Carlos Ponce

Bailey, Bailey, Bailey., the oil reserves are not there to make money. It's there to have oil available in case of emergencies like an oil embargo. The Biden doppelganger released oil to flood the world market to lower the price. Prices have been reduced but not because of those actions. But his lying surrogates will take credit for it even if undeserved.

Gary Miller

Gary S. Yes global energy production is increasing 1 or 2 % but global demand is increasing by 5 or 6 % a year. Only the US could increase production enough to match the increase in global demand. Gold hoarders are selling gold to cover Biden's inflation and energy cost. Gold and Silver are falling nearly as fast as the stock market. Enjoy the Biden disaster If you really like it.

Gary Miller

Gary S. .> Unless Biden is lying US GDP has fallen the last two quarters. Expected to fall again the end of September. Do you still love Biden's disaster?

Gary Scoggin

Gary M> I've made it clear I'm not happy with Biden. (But he's still preferable to the crook that immediately preceded him. A discussion for another day.)

If you want to look at the energy world objectively you need to take off your BDS glasses. (If indeed you want to be objective.) and quit throwing other stuff into the conversation. It just reinforces the notion that you really don't know what you are talking about.

Carlos Ponce

"But he's still preferable to the crook that immediately preceded him. A discussion for another day." Really? You prefer the way the Bidenistas have trashed the economy, the border, the military, etc.?

Gary Scoggin

Its preferable than the way Trump was trying to trash the Constitution.

Gary Miller

The Biden crime syndicate has tried for six years to get something on Trump. A few of his circle have been charged with petty crimes members of the Biden crime family are guilty of but are not charged.

domenico nuckols

The pervious administration did NOTHING!

Carlos Ponce

"pervious"? You must be posting about pervy Bill Clinton and his flavored cigars.

Bailey Jones

They say that stupidity is an opinion devoid of facts.

Ted Gillis

Scroggin, don’t try to explain this to these folks, they get offended when someone intelligent speaks up.

Carlos Ponce

Scroggin? Let's see what Scoggin has posted:

"Gary Scoggin Sep 15, 2022 11:22am I'm not real happy with the job that Biden is doing"

Agreed. That sounds intelligent. [beam]

Gary Scoggin

I've been saying that pretty much since the beginning.

George Croix

Yes. It's true that leases have been issued.

Denying that, or claiming that the Biden bunch, well, Susan anyway, has not done so, is wrong.

But, I have a deer lease.

That does not mean I'll get to eat venison, unless I spend a lot of time and money to use that lease to do so, and even then, maybe not.

But, if the person leasing to me tells me openly that his intention is to rid the nation of hunters, and he's in a position to get that going, I have less incentive to invest time and money, for an eventual promised loss of it all.

An oil/gas lease is no different.

The 'Thousands of Leases' dodge is just pablum for the childish to gum on....

What will be interesting now is how much or IF the railroad transfer of crude is effected in direct or sympathetic possible strike support...possibly...if that goes further south....supply, demand, midterms....

Railroad transfer is a 'Keystone' of refining crude supply, even in some coastal areas, as we've chosen not to push for as many faster, cleaner, cheaper, safer alternatives, pipelines, as possible...and THAT is because of the aforementioned goal to 'eliminate fossil fuels', claimed, and pretended, for political reasons....just like the leases are these days....

Of course, honesty demands the acknowledgment that it IS possible that the un-elected President is not a complete idiot, and understands we cannot survive for decades without fossil fuels, and so quietly pulls the strings to keep things moving, while writing Joe some tough talk to fire up the greeny base....

George Croix

Got a tentative agreement.

That's good for the nation if it gets ratified....

Gary Miller

George > It's true leases have been sold. That's money the government gets. No oil will be produced on those leases until drilling permits are sold. Biden will not sell any unless AOC approves it.

Gary Scoggin

You guys spend way too much time paying attention to politicians. In the energy economy the global marketplace rules. And the US Is only 14% of the market.

It will take a decade or more between the lease sale and meaningful production. These projects span multiple administrations. The only way a lease get cancelled is if you don't drill on it. And the guys that play in this sandbox are pretty good at deciding which leases they want to keep.

Also, the folks that develop these projects are acutely aware of the political risks involved. TransCanada knew the risks around KXL before they ever put a shovel in the ground.

George Croix

Thanks, but It's not 'you guys'... I KNOW that a lease is just step one, and far away from eventual production, if ever.

I'm just tired of the usual suspects claiming it's 'doing something about energy shortages' for the hometown crowd....many of whom actually don't know better....

Anyway, you answered my question...they roll the dice if the pot is big enough, even if the players are unknown...

OK.

Gary Scoggin

You know, George, but there are so many impressionable minds around here that need my wisdom. ;-)

George Croix

Question:

What’s your take on why the SPR is still being depleted…if the source I read is correct it’s at its lowest right now since ‘84. With a war going on involving one of the largest suppliers of crude what is American energy and thus ultimately military/defense readiness gaining by the depletion of our stormy world reserves. I mean aside from the politics that Presidents have always liked to conveniently use it for….

I can’t figure how this country benefits to any meaningful degree….

Gary Scoggin

The SPR is just a political tool to generate headlines that whomever in power is taking actions.

When full it contains like 30-40 days of US consumption or about 8 days of global consumption. Pulling on it may move the price needle slightly in the short term but is irrelevant in the longer term.

We shouldn't pull on it to influence prices; it should be used only in the course of a massive supply reduction like in a war or natural disaster.

Bailey Jones

Gary, it almost sounds like you're saying that all the ups and downs in the price of oil in this and previous administrations had nothing to do with the party or president in power at the time. Surely this cannot be. Next you'll be saying that Biden doesn't control the weather.

Gary Scoggin

Given how Red Texas is and considering the calm Hurricane season this year, he must not control the weather.

Carlos Ponce

The hurricane season so far has been calm. But things will kick up. The Lord will do this to circumvent the plans of our enemies who were planning on using the American coastlines for their evil plans.

Gary Scoggin

Carlos, can you be more specific as to which enemies and what their evil plans are? Or at least direct me to the relevant prophet and prophecy.

Bailey Jones

Gary, maybe Biden could mark up a hurricane tracking map with a Sharpie.

Carlos Ponce

"Carlos, can you be more specific as to which enemies..."

Why should I? You don't believe anything I post so why should I bother with a Leftist non-believer?

Bailey Jones

Gary - you leftist non-believer - I can answer that question. Juju and I are on a first name basis these days. "Our enemies" include, but are not necessarily limited to:

Anyone who doesn't support Trump.

Anyone who believes Trump lost the election.

Anyone who opposed Trump in any way, for any reason, on any issue.

Anyone who doesn't follow the Gospel of Q. (Not Q as in the hypothetical collection of the sayings of Jesus that are found in the Gospels of Matthew and Luke according to New Testament scholars, but the other one.)

The House of Windsor.

Billionaires who aren't Donald Trump.

Hollywood elites who aren't Donald Trump.

Political elites who aren't Donald Trump.

Serial adulterers who aren't Donald Trump.

Social networks that ban Donald Trump.

Law enforcement that believes that the law applies to Donald Trump.

Judges who believe that the law applies to Donald Trump.

All Democrats.

Most Republicans.

All non-Christians.

Most Christians.

People who don't like Putin.

China.

Ukraine.

The Vatican.

The EU.

All of the Americas except the US and Canada.

Most of Canada.

Other countries that aren't the US except the ones with dictators who like Trump.

US states that didn't vote for Trump.

CNN.

MSNBC.

Fox.

Immigrants who aren't married to Donald Trump.

Labor unions.

The United Nations.

Smart people.

Scientists.

Gay people.

Trans people.

Foreign people.

Poor people.

People who drive electric cars.

Rich people who aren't Donald Trump.

The Dalai Lama.

Oprah.

Alec Baldwin.

The Pope.

Gary Scoggin

Carlos… Extraordinary claims require extraordinary proof. You are correct I rarely believe anything you say because you rarely backup your claims with a source. For example, in this case I will just assume you made it up in a sad attempt to garner attention.

If you were serious you would warn us about this supposed threat, the warning signs that it is happening and give us a way to prevent it other than relying on God sending us a serious storm.

But your sources must embarrass you. Have you not the courage of your convictions?

Gary Scoggin

Thank you Bailey, this is helpful. No wonder Carlos and I don’t see eye to eye, because as an elite Canadian billionaire who watches Fox, I tick several of those boxes.

Carlos Ponce

Scoggin, talk with GOD. HE has all the answers you seek![innocent]

Bailey Jones

Gary, you and I should pool our Soros checks and buy Carlos a bus ticket to Lubbock. I'd hate for him to be here when God punishes the petrochemical industry again.

Gary Scoggin

Carlos, I talk to God several times a day but he hasn't let me in on the big secret

Gary Scoggin

Bailey - I'm not worried about Carlos. The prophets will protect him and his little corner of unincorporated Galveston County. And, besides, the good people of Lubbock don't deserve that.

Carlos Ponce

"but he hasn't let me in on the big secret" Are you giving Him reason not to?

Carlos Ponce

Not the prophets, but GOD.

Ted Gillis

Are you drunk Carlos?

Carlos Ponce

No, Ted. I am not drunk.

Bailey Jones

Ted, it's not drink, it's religious hysteria. They call it Mar-a-Lago Syndrome. It's like the Jerusalem Syndrome, except way more hilarious.

"Watch as this year comes to a close. So will every plan made against you, oh United States. You are being set free from what you see. The avalanche of truth has started, and your enemies can't stop what is about to come out against them because they can't stop Me, saith the Lord. All My plans will soon be seen, and freedom will ring across this land." -Juju Greenbacks, 10 days ago.

107 days left until poor Carlos' worldview comes crashing down around him. And the good people at the Galveston SPCA will finally get their $1000.

Carlos Ponce

There you go again with your friend Juju!

Virginia Stone

Funny Bailey, I needed a laugh today.

Michael Rolen

Is this Gary Miller guy for real?

Carlos Ponce

Gary Miller is for real. Question is: Is Michael Rolen real?[unsure]

Bailey Jones

Michael, I can assure you that Gary Miller is real. He's one of the county's Clown Car Conservatives - always good for a laugh.

Carlos Ponce

Now the question is "Is Bailey Jones real or a Russian bot? "

Gary Scoggin

Bailey obviously isn't a Russian Bot because he's not shilling for Trump.

Carlos Ponce

Now Scoggin, maybe your posts are why GOD hasn't let you in on what's happening.

Gary Scoggin

"Now Scoggin, maybe your posts are why GOD hasn't let you in on what's happening."

I think my posts are the least of God's worries. I imagine He worries more about false prophets who discredit His Kingdom than he does LEFTIST anti-MAGAs who humbly and often unsuccessfully try to follow Christ's example.

Carlos Ponce

"I think my posts are the least of God's worries."

HELLO, GOD DOESN'T WORRY! If he has the hairs on your head numbered doesn't that tell you how important you are to Him? Your relationship with God is important. He's telling you something but you're not paying attention. Your posts indicate that.[innocent]

domenico nuckols

The pervious administration did NOTHING!

Carlos Ponce

We know, Demonico, but to say the pervious administration (Pervy Bill Clinton with his "flavored" cigars) did nothing is not exactly true.

Jim Forsythe

Yes Carlos, it is bad when a President has done bad things. These are just a few of Trump's.

E. Jean Carroll Defamation and Federal Tort Claims Act Litigation--Carroll is suing Trump for defamation after he publicly accused her of fabricating a rape allegation against him.

DC Civil Suit over Misuse of 2017 Inauguration Funds. the Trump Organization will pay $400,000 and the committee will pay the remaining $350,000.

Karen Bass et al. Incitement Suit for Jan. 6 Capitol Attack.

Blassingame v. Trump, Plaintiff: James Blassingame and Sidney Hemby, two Capitol police officers --, two Capitol Police Officers sued Donald Trump for injuries they sustained during the Jan. 6 riots in D.C. Another Capitol Police Suit over the Jan. 6 Riots Plaintiff: Seven Capitol Police officers

Case Summary: On Aug. 26, 2021, a second group of Capitol Police officers filed suit over injuries they suffered while defending the Capitol on Jan. 6. The officers allege that Trump and his co-defendants–including the Proud Boys and the Oath Keepers–conspired to incite a riot and attack the Capitol, leaving the officers physically and emotionally injured.

Carlos Ponce

Oh.... lawsuits. Only an incompetent idiot would believe that a lawsuit implies automatic guilt.

Jim, our laws of jurisprudence are built on the basis of INNOCENT UNLESS proven guilty. Even the judge of the Mar-a-Lago documents refuses to state they were TOP SECRET unless this is proven.

Jim Forsythe says they were marked TOP SECRET s they must be...... [rolleyes]

Jim Forsythe

DC Civil Suit over Misuse of 2017 Inauguration Funds. the Trump Organization will pay $400,000 and the committee will pay the remaining $350,000.

Jim Forsythe

After a president leaves office, all records and documentation become the legal property of the National Archives under a law enacted in the wake of the Watergate scandal.

The Archives began to suspect that some records were missing from Trump’s presidency after he decamped to Mar-a-Lago. Negotiations between Trump’s team and the National Archives, however, only led to a partial recovery of documents until the FBI conducted a search on Trump’s property in August to collect what they believed to be the remainder. Michael Cohen and John Bolton said they suspect Trump could have more classified documents stored in Bedminster, New Jersey, and elsewhere. Two of Donald Trump ’s former top advisers said Monday they suspect the former president could have more classified documents.

Gary Scoggin

I agree we should not imply automatic guilt. Do you agree then that it was very inappropriate for the people at Trump rallies to chant "Lock Her Up!" regarding Hillary Clinton, as she has been neither charged or convicted of anything?

Carlos Ponce

Every election has that problem but the DC courts only go after Republican candidates.[rolleyes]

But that's ONLY ONE, Jim. And that case was because of the actions of Gentry Beach who was never deposed. [rolleyes][rolleyes]

Carlos Ponce

"all records and documentation become the legal property of the National Archive" That means the presidential libraries are EMPTY.

Carlos Ponce

"very inappropriate for the people at Trump rallies to chant "Lock Her Up!" regarding Hillary Clinton"

They call it FREEDOM OF SPEECH! Was it illegal? No. Inappropriate? A forecast.

Gary Scoggin

Carlos, your inconsistency on this issue has been noted.

Jim Forsythe

Carlos, no it does not mean the presidential libraries are EMPTY. What it means is that documents that are part of a Presidents term, belongs to The American people and the Presidential Libraries also belong to the American people.

All President know the rules and if a President decides not to make sure all documents are not in the safe protection of the National Archive, they will first be requested to please return them to the American people. If they refuse, they will then have government people removing them, after getting the OK from the government. If a President or his people say that they have returned all the documents and did not, they will have to face a judge, as to what will happen to them. If a President returns all the documents the first time asked to do so, it would no longer be an issue.

Presidential Libraries are archives and museums, bringing together the documents and artifacts of a President and his administration and presenting them to the public for study and discussion without regard for political considerations or affiliations. Presidential Libraries and Museums, like their holdings, belong to the American people.

Carlos Ponce

Scoggin, I am not inconsistent.

Jim, wait until this pans out. What you're posting is comparable to FOOL'S GOLD.

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