President Joe Biden - Kamala Harris Administration

#33,776
#33,776
volinbham said:
Since I'm bored I'm reading through the "explainer" for these "savings". BTW - the organization is a trade org promoting electricity.

As suspected this is the annual savings for energy.

Let's take the most generous program - rebates. These are for heat pump, heat pump water heater, insulation, elec stove, elec dryers and requisite wiring. Low income houses can get full rebates so they get some savings. "Moderate" income (whatever that is) get 50%

Given their rebate limits a moderate household could pay as much as (maybe more) $9000 to get a portion of the $1800 savings (solar and gas for car excluded from savings). Basically anyone but a low income household (they estimate low and moderate combined is about 1 million HHs) has up to a 10 year ROI before any savings are realized. Given appliance lifespans it's questionable how much net savings would occur.

The other incentives are all tax credits that only apply if you have a tax liability. If you don't routinely owe the IRS a check when you pay your taxes you can't use these. For example the 7500 tax credit for EVs is only usable if you determine after you've done your taxes you owe at least 7500 to the IRS.

Smoke and mirrors
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The "good" news is that the Biden Administration is going to create a lot more low income households when people get laid off from work due to the recession and the Biden Admin's brilliant idea to increase corporate taxes during the recession.
 
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#33,778
#33,778
volinbham said:
Since I'm bored I'm reading through the "explainer" for these "savings". BTW - the organization is a trade org promoting electricity.

As suspected this is the annual savings for energy.

Let's take the most generous program - rebates. These are for heat pump, heat pump water heater, insulation, elec stove, elec dryers and requisite wiring. Low income houses can get full rebates so they get some savings. "Moderate" income (whatever that is) get 50%

Given their rebate limits a moderate household could pay as much as (maybe more) $9000 to get a portion of the $1800 savings (solar and gas for car excluded from savings). Basically anyone but a low income household (they estimate low and moderate combined is about 1 million HHs) has up to a 10 year ROI before any savings are realized. Given appliance lifespans it's questionable how much net savings would occur.
Click to expand...

Since the tax rebates won't cover the full cost of these appliances, low income households won't be utilizing these tax credits anyway. They won't have the disposable income or savings to pay the excess cost of the appliances over the amount of the rebates (and that doesn't even take into account the cash flow issue of low income households having to front the entire amount of cash upfront in order to get the rebates at the time they file their taxes). The more I think about this, the more I realize that the true beneficiary of this program is going to be the banks. These low income households will plop these purchases on credit cards during a period of rapidly escalating interest rates. By the time they realize the tax rebates, they'll be spending those "savings" on other items. They'll continue to carry that credit card debt at sky high interest rates.
 
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#33,780
#33,780
OPEC tells Biden we Won't produce more oil in embarrassing blow: Saudi-led group only increases production by a 'miniscule' amount as White House scrambles to insist Biden didn't meet MBS to ask for help with supplies

The OPEC+ oil cartel dealt a blow to President Biden's hopes of increased supply when it voted for just a small increase in production on Wednesday – even after Biden's controversial fist bump with Saudi Crown Prince Mohammed bin Salman last month.

The White House refused to condemn the move, even as White House Press Secretary Karine Jean-Pierre said 'the President has been very clear ... that oil supply must meet oil demand.

OPEC tells Biden we won't produce more oil in embarrassing blow | Daily Mail Online
 
#33,782
#33,782
Vol423 said:
Since the tax rebates won't cover the full cost of these appliances, low income households won't be utilizing these tax credits anyway. They won't have the disposable income or savings to pay the excess cost of the appliances over the amount of the rebates (and that doesn't even take into account the cash flow issue of low income households having to front the entire amount of cash upfront in order to get the rebates at the time they file their taxes). The more I think about this, the more I realize that the true beneficiary of this program is going to be the banks. These low income households will plop these purchases on credit cards during a period of rapidly escalating interest rates.
Click to expand...

I believe the rebates are independent of taxes and they are intended for "low" income HHs. It's 100% reimbursement. For "moderate" income it's 50%. They appear to be different than tax credits.

Banks and Electric Appliance mfgs - there's even Defense Production Act monies in this monstrosity to encourage companies to make electric heat pumps...
 
#33,783
#33,783
Franklin Pierce said:
OPEC tells Biden we Won't produce more oil in embarrassing blow: Saudi-led group only increases production by a 'miniscule' amount as White House scrambles to insist Biden didn't meet MBS to ask for help with supplies

The OPEC+ oil cartel dealt a blow to President Biden's hopes of increased supply when it voted for just a small increase in production on Wednesday – even after Biden's controversial fist bump with Saudi Crown Prince Mohammed bin Salman last month.

The White House refused to condemn the move, even as White House Press Secretary Karine Jean-Pierre said 'the President has been very clear ... that oil supply must meet oil demand.

OPEC tells Biden we won't produce more oil in embarrassing blow | Daily Mail Online
Click to expand...
...and this is talking about the amount that OPEC "plans" to increase production. They've stated that they planned to increase production before, and production actually dropped.
 
#33,784
#33,784
Vol423 said:
The "good" news is that the Biden Administration is going to create a lot more low income households when people get laid off from work due to the recession and the Biden Admin's brilliant idea to increase corporate taxes during the recession.
Click to expand...
Accurate. 15% corporate tax is recouped by layoffs, democrat and republican houses.
 
#33,785
#33,785
volinbham said:
I believe the rebates are independent of taxes and they are intended for "low" income HHs. It's 100% reimbursement.
Click to expand...

Are you saying that the federal government is going to issue rebates equal to 100% of the purchase price of items for low income households (i.e., the federal government is going to buy all of these appliances for low-income households)? That I find impossible to believe.
 
#33,786
#33,786
Vol423 said:
Are you saying that the federal government is going to issue rebates equal to 100% of the purchase price of items for low income households (i.e., the federal government is going to buy all of these appliances for low-income households)? That I find impossible to believe.
Click to expand...

that is my understanding - I could be wrong.





The High Efficiency Electric Home Rebate Act (HEEHRA), includes $4.5 billion in direct rebates for low- and moderate-income households that install new, efficient electric appliances, using a framework proposed in our Appliance Rebate Plan. For instance, a low income household will receive a rebate covering the full cost of a heat pump installation for space heating, up to a cap of $8,000. This household could receive up to $1,750 for a heat pump water heater, $840 for an electric stove, and $840 for an electric clothes dryer. If required, this household can also receive up to $4,000 for an upgraded breaker box, $2,500 for upgraded electrical wiring, and $1,600 for insulation, ventilation and sealing. For moderate income households, the same rebates are available to cover 50 percent of the costs. This will enable roughly one million low- and moderate-income households to go electric.

In addition, the Inflation Reduction Act includes $4.5 billion in efficiency and electrification rebates under the Home Energy Performance-Based, Whole-House Rebates.
 
#33,787
#33,787
#33,792
#33,792
Cash Bonanza: Iran Has Made $44.7 Billion in Illegal Oil Sales Since Biden Took Office

Tehran slated to sell China $27 billion in oil this year

rsz_iran_dena_imo_9218480_p2_approaching_port_of_rotterdam_holland_15-dec-2007.jpg


Iran's illegal oil trade has boomed under the Biden administration, with the hardline regime selling more than $44 billion worth of its heavily sanctioned oil to malign regimes like China, Syria, and Venezuela, according to figures published by a watchdog group.

From January 2021, when President Joe Biden took office, to June 2022, Iran sold around $44.7 billion in oil primarily to China. The regime's export revenues between March 2021 and March 2022 from oil, gas, and related products "totaled $39 billion, compared [with] $22 billion for the previous year—a rise of 77 percent and an extra $17 billion," according to United Against a Nuclear Iran (UANI), a watchdog group that tracks Iran's network of illegal oil tankers.

In addition to looser sanctions on Iran, the Biden administration has turned a blind eye to enforcement as it seeks to ink a revamped version of the 2015 nuclear deal. These moves are meant to appease Iran and cajole it into signing a deal that will remove virtually all sanctions on the hardline regime, including its oil trade. China is the primary beneficiary of this policy, with Iranian oil imports quadrupling to the country in 2021 to $23.1 billion. The China-Iran oil pipeline is on pace to hit around $27 billion in 2022, according to UANI's figures.

Cash Bonanza: Iran Makes $44.7 Billion in Illegal Oil Sales Since Biden Took Office
 
#33,793
#33,793
Franklin Pierce said:
Cash Bonanza: Iran Has Made $44.7 Billion in Illegal Oil Sales Since Biden Took Office

Tehran slated to sell China $27 billion in oil this year

rsz_iran_dena_imo_9218480_p2_approaching_port_of_rotterdam_holland_15-dec-2007.jpg


Iran's illegal oil trade has boomed under the Biden administration, with the hardline regime selling more than $44 billion worth of its heavily sanctioned oil to malign regimes like China, Syria, and Venezuela, according to figures published by a watchdog group.

From January 2021, when President Joe Biden took office, to June 2022, Iran sold around $44.7 billion in oil primarily to China. The regime's export revenues between March 2021 and March 2022 from oil, gas, and related products "totaled $39 billion, compared [with] $22 billion for the previous year—a rise of 77 percent and an extra $17 billion," according to United Against a Nuclear Iran (UANI), a watchdog group that tracks Iran's network of illegal oil tankers.

In addition to looser sanctions on Iran, the Biden administration has turned a blind eye to enforcement as it seeks to ink a revamped version of the 2015 nuclear deal. These moves are meant to appease Iran and cajole it into signing a deal that will remove virtually all sanctions on the hardline regime, including its oil trade. China is the primary beneficiary of this policy, with Iranian oil imports quadrupling to the country in 2021 to $23.1 billion. The China-Iran oil pipeline is on pace to hit around $27 billion in 2022, according to UANI's figures.

Cash Bonanza: Iran Makes $44.7 Billion in Illegal Oil Sales Since Biden Took Office
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Remember you CC advocates,,,,oil will still be used by China and you can bet dollars to donuts they will not try this multi trillion scheme to overhaul their economy.
And another thing, with inroads into Pakistan, Afghanistan and now Iran as allies..they have their path for the 200M man march right into the ME and a little place called Megiddo.
 
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#33,795
#33,795
Vol423 said:
Inflation Reduction Act would lead to $1,800 in savings for average household, analysis finds

LOL. This article just further illustrates how out-of-touch and tone deaf the Biden Administration is. They're claiming that lower to middle income individuals will save money on their energy bills due to earlier purchase of supposedly more energy efficient cars and appliances. The bill gives tax rebates to taxpayers to incentivize them to purchase these energy efficient appliances and cars. Of course, they fail to realize that lower and middle income individuals are struggling just to put food on the table and be able to afford gas in their cars to go to work under the crippling Bidenflation. They certainly don't have the extra thousands of dollars laying around to purchase these energy efficient appliances and cars.
Click to expand...

This reminds me of Obama's promise that his health plan would save us $2500/family...
 
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#33,796
#33,796
Franklin Pierce said:
OPEC tells Biden we Won't produce more oil in embarrassing blow: Saudi-led group only increases production by a 'miniscule' amount as White House scrambles to insist Biden didn't meet MBS to ask for help with supplies

The OPEC+ oil cartel dealt a blow to President Biden's hopes of increased supply when it voted for just a small increase in production on Wednesday – even after Biden's controversial fist bump with Saudi Crown Prince Mohammed bin Salman last month.

The White House refused to condemn the move, even as White House Press Secretary Karine Jean-Pierre said 'the President has been very clear ... that oil supply must meet oil demand.

OPEC tells Biden we won't produce more oil in embarrassing blow | Daily Mail Online
Click to expand...

Do you really think Biden wants us burning more oil? He's thrilled that oil's tight and I have my doubts that he ever told the Saudis that he wanted more oil
 
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#33,798
#33,798
Franklin Pierce said:
OPEC tells Biden we Won't produce more oil in embarrassing blow: Saudi-led group only increases production by a 'miniscule' amount as White House scrambles to insist Biden didn't meet MBS to ask for help with supplies

The OPEC+ oil cartel dealt a blow to President Biden's hopes of increased supply when it voted for just a small increase in production on Wednesday – even after Biden's controversial fist bump with Saudi Crown Prince Mohammed bin Salman last month.

The White House refused to condemn the move, even as White House Press Secretary Karine Jean-Pierre said 'the President has been very clear ... that oil supply must meet oil demand.

OPEC tells Biden we won't produce more oil in embarrassing blow | Daily Mail Online
Click to expand...
More winning!
 
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#33,799
#33,799
VolStrom said:
We always had the slogan in my company, "we're not good, but we're slow"
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We had one sensor highly targeted to a specific customers requirements resulting in an obscene price tag but hey they paid it. Just nobody else would. So are slogan for that one was “you can buy a better sensor but you can’t pay more!”
 
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