High Gas Prices Could Be Creating Demand Destruction

By William Teach May 26, 2022 – 7:00 am

What is demand destruction?

In economics, demand destruction refers to a permanent or sustained decline in the demand for a certain good in response to persistent high prices or limited supply. Because of persistent high prices, consumers may decide it is not worth purchasing as much of that good, or seek out alternatives as substitutes.

Huh

Gas prices have soared so high that the US is now seeing demand destruction ahead of the summer driving season

Pain at the pump has gotten so bad that demand for gasoline is dropping just as the summer driving season is about to begin.

Demand on a four-week rolling basis has hit its lowest level during this time of year since 2013, excluding the pandemic-outbreak period in 2020, according to data from the Energy Information Administration compiled by Bloomberg. Compared with year-ago levels, demand is down roughly 5%.

Prices at gas stations across the US have hit record after record over the past two weeks, dashing some hopes for a driving season that approaches pre-COVID-19 levels, AAA previously predicted.

The average gallon of gas in the US hit $4.59 on Tuesday, about 51% higher than a year ago, according to AAA data. Regular gas prices have never hit this level. And in California, AAA data showed, prices can be over $6.

And prices are expected to go even higher by the end of the summer. One question, though, is where is this demand destruction occurring? And how strong is it? What you’ll probably see is fewer trips places. Perhaps more staycations, fewer weekend trips somewhere. What happens if shippers start having fewer trips? Oh, and demand destruction in the petroleum sector could lead to a massive worldwide recession or even a depression.

Is this intentional, to get people off of fossil fuels? How many people will lose their jobs? Oh, and this could seriously drive up the cost of lithium and other metals needed to create hybrids and EVs, as demand could outstrip supply. Citizens will notice when they have to change their habits, and, they quite often respond by getting rid of the people in political power.

Read: High Gas Prices Could Be Creating Demand Destruction »

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Aussies Voted For Climate Crisis (scam) Action: Will They Get It?

By William Teach May 25, 2022 – 3:00 pm

And how soon till they regret it?

Australians voted for stronger action on climate change. Will they get it?

On his first full day on the job, Australia’s new prime minister mentioned the words “climate change” four times within two minutes of his maiden international speech.

Fresh from election victory, Anthony Albanese sought to present a new Australia to the world, one that takes climate change as seriously as defense, after decades of inaction.

At the Quad meeting in Tokyo on Tuesday, Albanese told his counterparts from the United States, India and Japan that climate and the security of the region were among the biggest challenges of their time.

“The new Australian government’s priorities align with the Quad agenda, taking action on climate change and building a stronger and more resilient Indo-Pacific,” Albanese said, in words broadcast around the world.

But experts say it won’t be easy to turn around a coal-powered ship that has for years been chugging in the wrong direction, partly fueled by a government earning billions of dollars in export revenue.

The powerful fossil fuel lobby could fan headwinds, as could those aligned with the former Liberal-National government — a center-right-conservative coalition — though after years dominating the Australian parliament, their voices are likely to be drowned out by a cohort of Greens and climate-motivated independents who made big gains in the weekend vote.

See, Warmists like to cast blame elsewhere, but, in reality, we’ll see if Aussie are in favor of Doing Something in practice, vs in theory. Back in 2012, the party of Doing Something about Hotcoldwetdry, which did try and Do Something, putting theory into action, lost so bad at the ballot box for the Queensland elections that they didn’t have enough members to be a recognized official party. I keep saying, it might be popular in theory, but, when the action negatively effect citizens lives they do not like that.

Change appears to be coming in Australia, but the new government needs to convince the nation that the climate crisis presents an opportunity, not a threat to jobs, said Frank Jotzo, director of the Center for Climate and Energy Policy at the Australian National University (ANU).

“What the government should do is to talk deeply about climate change as an opportunity to help create better economic opportunities for the younger generation,” Jotzo said. “A government that wants to change things needs to establish a narrative that is overwhelmingly strong against the inevitable lobbying by powerful vested interests.”

Aussies should remember what happened during all the COVID lockdowns, where Government dictated how people could live their lives, and sent in the cops to enforce it. That’s basically a test drive for what climate action would look like.

Anyhow, we need experimental groups for every experiment. Let’s see how well Aussies react.

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If All You See…

By William Teach May 25, 2022 – 1:00 pm

…is a horrible fossil fueled boat needed when the world floods from carbon pollution, you might just be a Warmist

The blog of the day is The Right Scoop, with a post on Indiana Republicans over-riding Governor veto on bill banning biological males from competing with women.

Read: If All You See… »

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NC General Assembly Looks To Pass Bill Similar To Florida’s Parental Rights Bill

By William Teach May 25, 2022 – 10:30 am

This should make the moonbats bark

NC bill would ban LGBTQ issues from K-3 curriculum

North Carolina Republican leaders proposed state legislation Tuesday that would prohibit teaching on sexual orientation and gender identity in kindergarten through third grade, and would require parental notice when students in any grade question their sexual identity in school.

The requirements are part of a broader bill, similar to legislation on the move in other states, that state lawmakers call the Parents’ Bill of Rights. Under the proposal, North Carolina schools would have to notify parents if students seek to use a different pronoun to describe themselves, and parents would have to sign off before students could get counseling or other non-emergency health care.

House Bill 755 is expected to begin its path through legislative committees Wednesday in the Republican-controlled General Assembly. The text was released at 5:30 p.m. Monday, and Democratic Gov. Roy Cooper’s office would only say that Cooper would review the bill.

The restriction on sexuality and gender identity teaching forbids including those topics in school curricula for kindergarten through third grade. It’s not intended to ban discussions that come up organically in class, Berger, R-Rockingham, said during the news conference.

Well, I hope it bans these discussions when they originate “organically” from teachers. Because most young kids are not going to bring up any of this stuff unless they are enticed, like wondering what that multicolored flag is, or why their male teacher is wearing a dress and dyed his beard pink.

The new bill’s parental notice section generated concerns among opponents Tuesday that LGBTQ students, afraid of how their parents would react if they find out about their sexual identity, could no longer turn to trusted teachers for guidance.

When did teachers become guidance counselors and therapists for kids? Sure, there have always been a few who the kids glommed on to, but, mostly, the kids go to school, learn the subjects, then go home. If the kids are having issues, parents were always notified, unless the problem was a real one and very bad, and then the cops or social services or something was called.

Much of the rest of the bill lays out parents’ rights to various notices, including to receive regular report cards and to participate in parent-teacher organizations. It also says school systems must establish procedures for parents “to object to textbooks and supplementary instructional materials.”

That will make the teachers mad. God forbid they have to be accountable to the parents.

Really, though, there is little chance Governor Cooper, a Democrat, will sign the bill.

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Who’s Up For A Green Social Credit System?

By William Teach May 25, 2022 – 7:00 am

How many 1st World leaders are looking at China thinking this is a super fantastic idea, including Brandon and his admin Comrades?

Green Social Credit: ‘Individual Carbon Footprint Tracker’ Pushed by China’s Alibaba At World Economic Forum

Chiense tech giant Alibaba is developing a digital “individual carbon footprint tracker” to monitor the actions of the public, the firm’s president announced at the globalist World Economic Forum in Davos, Switzerland on Tuesday.

Speaking at a “Strategic Outlook: Responsible Consumption” WEF pannel in Davos, Alibaba Group President J. Michael Evans said that his company will be introducing more surveillance systems within China in order to usher in a so-called greener future.

“We are developing through technology the ability for consumers to measure their own carbon footprint… where are they travelling, how are they travelling, what are they eating, what are they consuming on the platform,” Evans said.

Because this is China, the data will be shared with the government. And, being China, the government will take action against its citizens. Of course, China is going hog wild in developing coal plants, blowing off every single thing they say they will do for ‘climate change’. The tracker is a step towards controlling everything the citizens do, and politicians, bureaucrats, and agencies will love this.

2,000 might be a bit too high, but, it’s definitely way more than 1,000.

Read More »

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Elon Musk Is Latest To Realize The Democrats Are They Party Of Insanity

By William Teach May 25, 2022 – 6:45 am

What’s the old saying about a Conservative being a liberal who got smacked by liberal policies?

Elon Musk is just the latest American to realize how badly Democratic policies are faring

Sky-high inflation, surging gas prices and constant chaos from the Biden administration seem to have disillusioned some everyday Democrats.

Let’s call it the summer of their discontent: Are the optics of progressive policies just bad or are people finally seeing the fatal flaws in liberal ideas? I’d argue both.

Elon Musk announced last week on Twitter that he was no longer a Democrat.

“In the past I voted Democrat, because they were (mostly) the kindness party,” the billionaire wrote. “But they have become the party of division & hate, so I can no longer support them and will vote Republican…”

Musk could be a classic case of a liberal mugged by reality, or it could be a publicity stunt. But given his penchant for free speech and the free market, he might be finally realizing he’s actually more of a classical liberal, a political ideology that advocates for the free market, intact civil liberties, limited government, and economic and political freedom.

You don’t hear that term very often, except typically from those with political science degrees or have really studied. Most of the MAGA are really classical liberals, what is best described as Lockian theory from John Locke. Pretty much “the government that governs least governs best.” If it doesn’t hurt you why do you care, and certainly not care to have the government Do Something. It’s right smack in the middle of the political spectrum.

It’s about time Musk realized that while the average Tesla owner is a fifty-something, childless resident of California, the progressive ideas that have entrenched the Golden State aren’t actually good for the economy — or America overall. Freedom is America’s most important idea to protect and exhibit. While Republicans don’t do it perfectly, they at least embrace that principle first.

True that.

These feuds demonstrate that while liberal ideas look good on paper, they hurt average Americans, economically and socially. At the same time, conservative ideas look great on paper, but they can be hard to implement, especially when competing with huge spending.

Real ones aren’t. It’s basically “government, leave us alone.” Have you ever seen the episode of Futurama when Bender is floating in space and talks to God/The Universe/whomever? The part about taking a light touch, like a safe cracker

That’s what government should do. A light touch.

In the end, whether your hope was in the Biden administration, now wilting as quickly as your potted plant on the porch in the Texas summer heat, or you really liked Crenshaw and now think he might be a fake Republican, remember: Politics can’t be your religion and people, especially politicians, can’t be your gods.

No, they shouldn’t. They shouldn’t be celebrities, “rock stars”, etc. They should be public servants.

Read: Elon Musk Is Latest To Realize The Democrats Are They Party Of Insanity »

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Biden Seems Happy With High Energy Prices

By William Teach May 24, 2022 – 3:00 pm

Of course he does. It’d be easy to argue that the cost of energy spikes, especially fuel, are just from irresponsible and lazy policies. Most likely, it is intentional

Of course, he’s not worried about it, as you the taxpayer pick up the tab for his constant fossil fueled travel

(NY Post) Out of touch as ever, President Biden celebrated record-high gas prices Monday, gushing that the pump pain was part of “an incredible transition” of the US economy away from fossil fuels.

“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden said during a press conference in Japan following his meeting with Prime Minister Fumio Kishida.

The president then insisted that his administration’s actions, rather than increasing the price of gas, had actually been able to “keep it from getting worse — and it’s bad.”

So, of course, Let’s Go Brandon’s supporters are going to come out with pieces in support

Is the spike in gas prices good for America?

The average price of gasoline at the pump in the U.S. last week was $4.58 a gallon. It will doubtless spike up to $5.00 before too long as it is already above $6 in California.

U.S. gas prices are cheap compared to Europe. If you fancy traveling to London for the Queen’s Platinum Jubilee, the price is $5.79; if you love Paris in the springtime, it’s $5.54; and if you want to see the pope, Rome is $5.96. Some countries you might like to visit are even higher. (snip)

There is a political problem with high gas prices. They are a hardship on working Americans as prices rise overall in an inflated economy. Gasoline costs may amount to $5,000 a year for a heavily taxed family.

But in the long run, an inflated price for gasoline is, I would argue, good for the environment. It may encourage people to take carpools to work, to bicycle and walk more. This will improve health and welfare.

The price spike may further spur the development of battery-driven cars. Both Ford and General Motors have said they will be manufacturing all-electric fleets by 2030. I never thought I would live to see the day.

So, it’s part of the plan to force Americans into unaffordable EVs? They’re intentionally skyrocketing fuel costs, which increase the costs of everything? Food, goods, you name it?

Diesel Fuel Costs Soaring — Up 75% from Last Year

The cost of diesel fuel — used by farmers and truckers to supply Americans with the products they need — has increased 75 percent over the past year.

The national average for diesel fuel is $5.61 a gallon, according to the American Automobile Association’s (AAA) May 16 report.

Do you know what gets delivered by diesel trucks? Food. If truckers/companies are paying more for fuel, they pass that on. Team Biden is intentionally causing pain to Americans.

Read: Biden Seems Happy With High Energy Prices »

Posted in Energy, Global Warming, Joe Biden | 30 Comments | Trackback URL

Rep. Gohmert Wants Congress To Strip All The Extra Stuff From Anti-China Bill

By William Teach May 24, 2022 – 1:00 pm

This is the bill that Pelosi might possibly push by July 4th, which, really, is not meant to pass. It’s meant to force the GOP to vote against it, so the Democrats can use it as a cudgel to bash the GOP as not wanting to help the U.S.A.

Exclusive: Louie Gohmert, Conservatives Urge Congress to Strip Amnesty, Wokeness, Climate from Weak Anti-China Bill

Rep. Louie Gohmert (R-TX) and other conservatives urged Republican and Democrat leadership on Monday to strip provisions from an anti-China bill that would grant amnesty, promote woke values, and boost climate change regulations, Breitbart News has learned exclusively.

Reps. Gohmert, Greg Steube (R-FL), Doug LaMalfa (R-CA), and Doug Lamborn (R-CO) sent the letter to Speaker Nancy Pelosi (D-CA), Republican Leader Kevin McCarthy (R-CA), Senate Majority Leader Chuck Schumer (D-NY), and Senate Minority Leader Mitch McConnell (R-KY), as the House and Senate are in conference hashing out the differences between the House-passed America COMPETES Act and the Senate-passed United States Innovation and Competition Act (USICA) Act.

The two bills, which were supported by many Republicans and Democrats, are aimed at increasing American competitiveness with China, especially in the areas of high-tech manufacturing, such as semiconductors, and artificial intelligence (AI). However, conservatives have derided the bill as a threat to national security and believe it would, ironically, “harm innovation.”

Congress seems virtually unable to simply put a targeted bill on the table, especially when it’s the Democrats in charge. Why do we need

  1. Any additional funding to the United Nations (UN)
  2. Any immigration provision that provides amnesty, allows for refugee resettlement, or otherwise increases the number of green cards for foreigners in the United States
  3. Sexual Orientation or Gender Identity (SOGI) language
  4. Language that would advance climate change goals
  5. Provisions without proper oversight

in it? These are unrelated. They’re wishlist material, that, if the Dems really want them, put them in a standalone bill. Democrats do not want it to pass. It’s a tool for the mid-terms, a way to demonize the GOP (without mentioning that the Democrats have been sitting on this for a while, and the time for the chips legislation was back in late 2020/early 2021) and deflect from the horrible record of Biden and the Dems.

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If All You See…

By William Teach May 24, 2022 – 1:00 pm

…is a horrible fossil fueled vehicle, you might just be a Warmist

The blog of the day is Victory Girls Blog, with a post on Belarus getting nuclear weapons from Putin.

Read: If All You See… »

Posted in If All You See | 22 Comments | Trackback URL

HSBC Exec Suspended For Telling The Truth On Climate Crisis (scam)

By William Teach May 24, 2022 – 7:15 am

Well, I’d love to go with the Wall Street Journal piece

A Financier Tells Some Climate-Change Truths
And for doing so, Stuart Kirk was suspended by HSBC.

HSBC executive Stuart Kirk gave a presentation at an investor conference last week, taking banking regulators to task for overbaking the financial risk of climate change. What was he thinking? As punishment for his heresy, the British bank has sent him to re-education camp.

But, the rest is behind a paywall. So

(NY Post) British banking giant HSBC has suspended a top executive who argued during a recent public presentation that the financial risks of climate change were overblown and exaggerated by central bank officials and other policymakers.

The suspended employee, Stuart Kirk, is global head of responsible investment at HSBC’s asset management division. He made the remarks during a presentation titled, “Why investors need not worry about climate risk.”

Kirk stated his view that warnings about climate change have “become so hyberbolic that no one really knows how to get anyone’s attention at all.”

“I wouldn’t normally mind that. Twenty-five years in the finance industry, there’s always some nutjob telling me about the end of the world,” Kirk said. “I’ve dealt with gold bugs my entire financial career, the roof’s going to cave down, Y2K. Does anyone remember Y2K, anyone old enough? The lifts didn’t stop.” (snip)

But sources familiar with the presentation’s planning told the outlet that its “theme and content” were “agreed internally” before the event took place.

It’s dangerous to tell the truth these days, if it goes against the Approved Doctrine.

Kirk had acknowledged that his stance that climate chance was not an existential financial risk would be taken as “heresy” among policymakers.

His speech began with a slide declaring that “unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong.” The slide included commentary from the Bank of England, the United Nations, the World Economic Forum and others who have warned that climate change poses a major risk to global economies.

Heresy!

Read: HSBC Exec Suspended For Telling The Truth On Climate Crisis (scam) »

Posted in Collapsing Science, Global Warming | 8 Comments | Trackback URL
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