Inflation, Recession, and Energy Crises: 18 Months of the Biden Administration

Recorded on July 22, 2022

https://youtu.be/vmfMseyE7Q0

Episode 53 of the PetroNerds podcast is a fantastic discussion on supply chain issues, small businesses, inflation, recession, the Biden Administration, the coming rise in US unemployment, the US economy, the European energy crisis, and China. Want to get up to speed on everything happening in the US and around the globe in terms of energy and the economy?

This is the podcast to listen to. This is part two of the PetroNerds Crude Life Mash Up where Trisha Curtis, CEO of PetroNerds and host of the PetroNerds podcast, brings back Jason Spiess from the Crude Life to discuss the nuances of inflation, employment, energy production, and policies. Trisha opens the conversation talking about supply chain issues, red hot US inflation, natural gas prices above $8 mcf and gets into “what recession is” and “what inflation is.” Trisha explains that “Inflation is driving this recession.” And that “inflation is a tax.” Trisha and Jason talk about the Biden Administration’s hypocrisy on energy, anti domestic oil and gas rhetoric and policies, and continual calling out of the oil and gas industry for high oil prices.

Trisha talks about the Administration bragging about a $.60 drop in gasoline prices while inflation ratchets to 9.1 percent. She talks about the complexities and nuances of employment, interest rates, and the need to curb inflation which will slow the economy and increase unemployment. They talk about the Administration’s speech on climate change and the several hundred million dollars allocated for air conditioners and cooling centers in poor communities and the need for energy. They talk about the rise in electricity prices, up 13.7 percent in the US, and the grave and serious energy crisis in Europe which could throw the world into a recession. They close the podcast talking about China and China’s controversial North Dakota investment plans.

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