Armstrong Economics Blog/Energy
Posted Oct 19, 2022 by Martin Armstrong
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QUESTION: Marty, do you think that electric cars should be avoided? What do you see for the future? Biden looks like he has undermined Israel all over pleading for low gasoline prices.
ANSWER: The goal of energy independence was achieved under Trump. Now, under Biden, he had depleted the oil reserves all to save the Democrats from their own policies of ending fossil fuels. Worse still, the Biden Administration has now opened the door to the decline and fall of the United States for another oil embargo would be devastating to the US economy and the people are totally unaware of how vulnerable their livelihood now stands thanks to the Democrats.
I’m sure the Democrats will be writing in as always. All I can say is PLEASE look at this objectively and do not vote simply because of party politics. Depleting the strategic oil reserves to just try to bullshit everyone for the midterm election and then afterward, screw you and your family, shows that they are counting on your stupidity and your bias.
I have studied military tactics. All they need do is cut off all oil again, the US will crumble, and your very job will be at risk if companies can no longer function. This is all total bullshit. It should be a crime for any president to take the strategic reserves for personal political gain. This is no different than robbing money from the Treasury.
I have warned, Beware of oil prices in 2023. Biden has completely undermined the security of the United States into 2032. The Arabs know see the crisis that they face. They would be insane to do anything that benefits the Biden Administration or the EU. Forcing prices to skyrocket will be the only thing to force political change from this climate insanity.
Electric cars are not practical. They may be ok as a second car for around town. But I would look at hybrids for we do not have the power grid to support electric cars. In addition, the first think you do in war is take down the power grid. With electric cars and digital currency, you complete shut down an opponent. Brain dead – just brain dead.