Is The Bad Economy The Dem's Fault?

We are facing loss of the house and senate to the Democracy destorying Repubs in the mid terms next month. They will take away your health care, that's the least they will do A coupoleof years latter geta Repub president maybe you know who? Those of us who finnd this state of affaors unbearable mist start coampaomimgow. We all kmow REpubs we have to start trying to opem thiereyes, it's not too late just try.

One of the major points I find the Reps making is that Biden ceased or greatly reduced oil production that kicked off inflation. This is really the lynchpin of their attack.
Here is a football star running for theseate who says it:

Herschel Walker, the Republican nominee for a hotly contested Georgia Senate seat, took a page from the GOP midterm playbook by accusing President Joe Biden of sabotaging the U.S. ability to produce oil, driving gasoline prices to near record highs...In a July 13 tweet attacking both his opponent, Democratic Sen. Raphael Warnock, and Biden, Walker wrote, "Gas is more expensive because you and Senator Warnock cancelled the Keystone XL Pipeline and stopped domestic drilling, sending American jobs and energy overseas."[1]

Politifact shows this to be false, it is a lie:

• Since President Joe Biden took office, oil production has risen both on federal lands and on U.S. lands overall. Overall domestic oil production in 2021 came close to a record high.

• Biden never tried to bar all domestic drilling. He did try to pause future leasing on federal lands, but this was blocked by a court.

• No president has the authority to stop drilling on private lands. And presidents have little control over gasoline prices, which are determined by the global market. [2]

Newsweek tells us that oil production was slack before Biden took office due to the pandenic."Zibel noted that production 'fell off a cliff' in the spring of 2020 due to the coronavirus pandemic but has been gradually coming back since, under both former president Donald Trump and Biden." [3] Since this is the basis of their attack on Biden disproving it means their entire reason for blaming him collapses.

Look the Reps think lower oil production caused iflation, since Biden did't reduce it he did not cause inflation.Econonists say that it was the pandemic that caused a decrease in oil production and contribted to inflation.

"Republicans Wrongly Blame Biden for Rising Gas Prices.They have pointed to the Biden administration’s policies on the Keystone XL pipeline and certain oil and gas leases, which have had little impact on prices...These claims are misleading. The primary reason for rising gas prices over the past year is the coronavirus pandemic and its disruptions to global supply and demand."[4]

"Gas prices have risen in recent weeks because a key pipeline was forced to close after a cyberattack on the Colonial Pipeline. And lumber shortages — which existed during former President Donald Trump’s administration — were worsened by an unexpected housing boom."[5]

Moreover, the war in Ukrane has affected oil prices.Dario Caldara, Sarah Conlisk, Matteo Iacoviello, and Maddie Penn1

Global geopolitical risks have soared since Russia's invasion of Ukraine. Investors, market participants, and policymakers expect that the war will exert a drag on the global economy while pushing up inflation, with a sharp increase in uncertainty and risks of severe adverse outcomes.2 As an example of these concerns, the April 2022 edition of the International Monetary Fund's World Economic Outlook contains more than 200 mentions of the word "war." Some economic effects are already materializing. The economies of Russia and Ukraine are contracting sharply as a direct result of the war and the sanctions imposed on Russia. Commodity markets are in turmoil and financial markets have been highly volatile since the start of the conflict. In light of these developments, a key question is: How much will geopolitical tensions weigh on economic activity in 2022 and beyond?[6]

So we have three reasons for bad economy they have nothing to do with Biden,

(1)Covid haulted spending because everyone stayed home. How could anyone think that would not effect the economy?

(2)Market concetration

(3) War in Ukrane disrupted international trade.

Tell your republican friends, if you have any!



Notes

[1]"Did Biden stop domestic oil drilling, as Herschel Walker said? Hardly" Politifact (July 13,2022) https://www.politifact.com/factchecks/2022/jul/22/herschel-walker/did-biden-stop-domestic-oil-drilling-herschel-walk/

[2]Ibid.

[3] Alexandra Hutzler, "Have Biden Administration Policies Reduced U.S. Oil Production?,"(March 8,2022). https://www.newsweek.com/have-biden-administration-policies-reduced-us-oil-production-1686104

[4]CHRISTOPHER RUGABER and HOPE YEN Fact Check REpublicans Falsely Blame Biden for gas prices,)(May 26, 2021AP) https://apnews.com/article/donald-trump-lifestyle-health-coronavirus-pandemic-prices-084a908ac2850e8690a822d6c7f56301 see also: New York Times, https://www.nytimes.com/2022/03/09/us/politics/fact-check-republicans-biden-gas.html

[5]Rugaber, op cit

[6]Dario Caldara, Sarah Conlisk, Matteo Iacoviello, and Maddie Penn,"The Effect of the War in Ukraine on Global Activity and Inflation,"FEDS notes (May 27, 2022)Journal of board of govenors federal reserve system. https://www.federalreserve.gov/econres/notes/feds-notes/the-effect-of-the-war-in-ukraine-on-global-activity-and-inflation-20220527.html