Economist schools Trump: Cheap oil = lower GDP

[JGalt]

Frack baby frack!

 

[BluesLegend]

And we have CENTURIES of cheap fossil fuel energy in the U.S. It is so plentiful here it should be considered a "renewable resource" as we are always finding more!

Plus its recycled plants and dinosaurs what could be more green than that!

 

[initforme]

If it's so cheap then why is gas expensive? CouldntCouldntCobe the oil companies gouging right?

 

[BluesLegend]

If it's so cheap then why is gas expensive? CouldntCouldntCobe the oil companies gouging right?

LMAO because Dem's tax the crap out of it.

 

[SassyIrishLass]

If it's so cheap then why is gas expensive? CouldntCouldntCobe the oil companies gouging right?

LMAO because Dem's tax the crap out of it.

^^^^^WINNER!!!!!!!!

 

[Toddsterpatriot]

Trump recently thanked Saudi Arabia, which he sees as being key in lowering oil prices.
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:

Oil prices and US GDP growth are now positively correlated. The U.S. now reacts to lower oil prices like Saudi Arabia, ie, badly. This is not how it used to be; shale has changed everything. Someone should tell @realDonaldTrump

Ian Shepherdson on Twitter

We consume more oil than we produce.
Producers are hurt by lower prices.
Consumers and helped by lower prices.
Combine the two and lower prices are a net benefit.

Obviously, if prices fall so far that domestic production collapses, it could become a net detriment.

 

[initforme]

Why will you not take on big oil companies at all? I don't trust them whatsoever...ever...

 

[Pilot1]

A gallon of gasoline is cheaper than a gallon of bottled water, and in my state we pay about $.83/gallon in Fed, and State gasoline tax.

 

[ABikerSailor]

A gallon of gasoline is cheaper than a gallon of bottled water, and in my state we pay about $.83/gallon in Fed, and State gasoline tax.

Really? A gallon of gas is cheaper than a gallon of bottled water in your state? Where the hell do you live?

The public water system here in Amarillo kinda sucks, which is the reason I shifted to bottled water for drinking. The city water would give me stomach aches, so, I started buying water from a couple of places.

One place, is called The Water Hut, and it is a coin operated water dispensing machine. You bring your own jug, and pump your own water. Costs 25 cents per gallon.

The other place I like to go is called Texas Tea, and they sell water for 50 cents a gallon if I bring back the jug they gave me, 1.00 if I get a new jug from the chill box. And, they have a selection of around 30 different flavors of tea, so when I get my water, I also get a half gallon of tea.

What the hell are you drinking? Perrier?

BTW..................a gallon of gas is around 2.50/gal.

 

[Pilot1]

What's a liter of Aquafina, or Dasani, which is just filtered water in your state? Multiply by 3.8 or thereabouts.

 

[ABikerSailor]

What's a liter of Aquafina, or Dasani, which is just filtered water in your state? Multiply by 3.8 or thereabouts.

I'm smart enough to buy in bulk so that the price is cheaper, not buying it in small ass bottles. Like I said, the Water Hut is only 25 cents/gal, which is also just filtered water.

The reason I like to get water from Texas Tea, even though it is 50 cents/gal? Because they use reverse osmosis to filter their water, which makes for much purer, and better tasting water.

 

[Pilot1]

I'm smart enough to buy in bulk so that the price is cheaper, not buying it in small ass bottles. Like I said, the Water Hut is only 25 cents/gal, which is also just filtered water.

The reason I like to get water from Texas Tea, even though it is 50 cents/gal? Because they use reverse osmosis to filter their water, which makes for much purer, and better tasting water.

I drink tap water that I filter, so...….. But, my point is gasoline is CHEAP for the energy you get from it.

 

[ABikerSailor]

You originally said this.....

A gallon of gasoline is cheaper than a gallon of bottled water, and in my state we pay about $.83/gallon in Fed, and State gasoline tax.

You were actually claiming that bottled water was more expensive than gasoline where you are at. And, I refuted your claim, by telling you what actual water and gas prices were here in Amarillo. You then said it was all about Dasanti and other bottled waters, but then changed to this when I asked why you spent so much money on water, when it was cheaper to buy in bulk.

Now................you are saying this............................

I'm smart enough to buy in bulk so that the price is cheaper, not buying it in small ass bottles. Like I said, the Water Hut is only 25 cents/gal, which is also just filtered water.

The reason I like to get water from Texas Tea, even though it is 50 cents/gal? Because they use reverse osmosis to filter their water, which makes for much purer, and better tasting water.

I drink tap water that I filter, so...….. But, my point is gasoline is CHEAP for the energy you get from it.

If you were trying to say that gas is cheap for the energy you get from it, why not just say that, and not try to compare it to water prices (which you inflated by the way)?

Is that some more of that famous Trump "truthful hyperbole" that he and his followers like to use? Hate to tell you, but those 2 words don't belong in the same sentence, because they mean the opposite of each other. Here are the definitions to help you out in the future.....................

truthful
[trooth-fuhl]
See more synonyms for truthful on Thesaurus.com
adjective

1. telling the truth, especially habitually: a truthful person.
2. conforming to truth: a truthful statement.
3. corresponding with reality: a truthful portrait.

hyperbole
[hahy-pur-buh-lee]
See more synonyms for hyperbole on Thesaurus.com
noun Rhetoric.

1. obvious and intentional exaggeration.
2. an extravagant statement or figure of speech not intended to be taken literally, as “to wait an eternity."

So, as you can clearly see, there isn't any such thing as "truthful hyperbole".

 

[Pilot1]

Whatever dude. Get a life.

 

[Ted Frazier]

Lower energy costs promotes a growing, dynamic economy which will benefit GDP.

Tell it to Saudi

Trump recently thanked Saudi Arabia, which he sees as being key in lowering oil prices.
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:

Oil prices and US GDP growth are now positively correlated. The U.S. now reacts to lower oil prices like Saudi Arabia, ie, badly. This is not how it used to be; shale has changed everything. Someone should tell @realDonaldTrump

Ian Shepherdson on Twitter

Good Lord!!! Stupidity reaching new lows!

Economists quoted by conservatives in this thread: zero.

 

[Wyatt earp]

If it's so cheap then why is gas expensive? CouldntCouldntCobe the oil companies gouging right?

Democrats taxes.


.duh...

 

[Centrista]

Lower energy costs promotes a growing, dynamic economy which will benefit GDP.

Saudi Arabia to cut oil exports by 500,000 bpd in December


Sent from my iPhone using USMessageBoard.com

 

[SassyIrishLass]

Lower energy costs promotes a growing, dynamic economy which will benefit GDP.

Tell it to Saudi

Trump recently thanked Saudi Arabia, which he sees as being key in lowering oil prices.
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:

Oil prices and US GDP growth are now positively correlated. The U.S. now reacts to lower oil prices like Saudi Arabia, ie, badly. This is not how it used to be; shale has changed everything. Someone should tell @realDonaldTrump

Ian Shepherdson on Twitter

Good Lord!!! Stupidity reaching new lows!

Economists quoted by conservatives in this thread: zero.

One doesn't need to be an economist to know your quack one is wrong

 

[Andylusion]

Trump recently thanked Saudi Arabia, which he sees as being key in lowering oil prices.
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:

Oil prices and US GDP growth are now positively correlated. The U.S. now reacts to lower oil prices like Saudi Arabia, ie, badly. This is not how it used to be; shale has changed everything. Someone should tell @realDonaldTrump

Ian Shepherdson on Twitter

OH BULL CRAP.

...... so smart, they have become idiots.

Really? So in the 1990s when oil prices crashed, and Bill Clinton, and his economists, were all talking about how low oil prices helped the economy, they were all lying? Or were they truthful until Trump was in office, and now it is magically wrong?

You people can't go a single day without contradicting yourselves. Endless stupidity from the left.

 

[Ted Frazier]

Lower energy costs promotes a growing, dynamic economy which will benefit GDP.

Why is Saudi Arabia going to cut production in December? Because to them (as well as the United States), gas prices that go too low decrease their GDP: https://www.google.com/url?sa=i&source=web&cd=&ved=2ahUKEwj9kPi64-beAhWHd98KHVa5AD8QzPwBegQIARAD&url=https%3A%2F%2Fwww.aljazeera.com%2Fnews%2F2018%2F11%2Fsaudi-cut-oil-exports-500000-barrels-day-december-181111153733021.htm

Lower energy costs promotes a growing, dynamic economy which will benefit GDP.

Tell it to Saudi

Trump recently thanked Saudi Arabia, which he sees as being key in lowering oil prices.
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:

Oil prices and US GDP growth are now positively correlated. The U.S. now reacts to lower oil prices like Saudi Arabia, ie, badly. This is not how it used to be; shale has changed everything. Someone should tell @realDonaldTrump

Ian Shepherdson on Twitter

Good Lord!!! Stupidity reaching new lows!

Economists quoted by conservatives in this thread: zero.

One doesn't need to be an economist to know your quack one is wrong

Uh oh. Here's a new article that's going to piss you guys off. Different guy, dated Nov 21 (today).
(You can pretend he's wrong by rating "funny" though. Lol.)
Why falling oil prices are now a net drag on the U.S. economy