I'm sure many of you freaks are aware of the fact that President Biden sent a letter to the oil and gas executives earlier this week. In it, Sleepy Joe scolded the executives for not producing enough energy at a time when the US is trying to fight back against "PuTiN's PrIcE hIkEs" and essentially begged producers to simply do more. Later, his Press Secretary added that it is the "patriotic duty" of the fossil fuel industry to invest in infrastructure that will allow more supply to get to market.
I'd laugh at the utter unawareness and incompetence if the situation weren't so dire. How can the Biden administration seriously ask oil and gas execs to outlay billions of dollars worth of capital in a rush to build out infrastructure, mainly refineries, that have pay back periods that take decades when the Energy Secretary of the US is saying things like this?
As we highlighted last week, the leaders of he oil and gas companies in the US will never invest in the infrastructure necessary to deliver more refined hydrocarbon products to market when they are actively being demonized and forcefully shoved out of energy markets by an idiotic energy transition that wishes to make their products obsolete. To make matters worse, the idiots in DC are aiming to put a "windfall profit" tax on any money these companies do make. No one in their right mind would invest in this type of capital intensive infrastructure when the regulatory class is posturing this way. You might as well pile up the money and light it on fire Joker stile. The incentives simply aren't there.
And this is the main problem with the US economy today. It is in the shitter because incentives have been completely skewed in a direction that makes it extremely hard to be productive. Central planning by unproductive cretins in the realms of monetary economics and politics is keeping the productive class on the sidelines. Ayn Rand said it best in 1957.
Unfettered money printing that has been centrally controlled and distributed toward unproductive endeavors has created an atmosphere of grift that makes it extremely hard for people who produce actual value to do their thing. The last two-and-a-half years have shown without a shadow of a doubt that the Administrative State has been corrupted beyond repair in all areas of life. If you speak about the undeniable reality that modern day society is wholly dependent on hydrocarbons and we should continue producing them without restrictive red tape your are labeled a "cLiMaTe DeNiEr". If you blow the whistle on the fact that the experimental vaccine that was forced into the arms of billions of people around the world may be harming people you are labeled a "ScIeNcE dEnIeR". If you point out that the Fed has completely lost control of monetary policy and is acting as a wealth distribution mechanism that is draining the pockets of the lower classes you are labeled a "fEd TrUtHeR".
Everywhere a productive member of society turns they are met with screeching from an unproductive cretin who has no understanding of the basic economics, physics or critical thinking that has afforded humanity with the modern society it enjoys today. People are too busy waving the flag of the month, judging other people, and spouting nonsense to take the time to realize that the world is crumbling apart around them. And even if they do notice, they are too stupid to recognize that it is all the unproductive virtue signaling that has gotten to this dire point.
The only way to fix this is to take the means of money production out of the hands of the unproductive cretins of the world and put it in the hands of the productive class so that they can accumulate and allocate money within a significantly better incentive model. Only then can opportunity cost be repriced to where it should be. Allowing better price signals to surface that incite productive entrepreneurs to action to deliver desperately needed goods to market.
Fix the money, fix the world.
The baby had a three and four hour stretch throughout the night last night. Hoping that trend continues.