Some folks don't believe the shortages (and associated inflation) are Biden's fault. Let's explore.
Though the United States has abundant supplies of NG, futures have spiked above $8. Is this self-inflicted? Here's what Bloomberg (not exactly a conservative friendly source) has to say. The inventory woes are due to the US exporting "every molecule of liquefied natural gas possible to help Europe reduce its reliance on Russian energy "
The US' mission to resupply Europe with LNG is taking critical supplies away from domestic US markets and boosting prices sky-high, crushing American households to "save" Germans from shortages. (Click the pic)
EV Battery Materials
I've written previously about the skyrocketing cost of lithium which is essential for making batteries. neoterra.us/blog/more-scarcity-to-come
The known global reserves of lithium are not sufficient to allow a transition to EVs. The Administration's efforts to force a premature transition have driven the price of lithium up 500% since Biden took office.
This week, Rivian CEO, RJ Scaringe told the WSJ: “Put very simply, all the world’s [EV battery] cell production combined represents well under 10% of what we will need in 10 years.... 90% to 95% of the supply chain does not exist.” www.zerohedge.com/markets/rivian-ceo-warns-coming-ev-battery-supply-shortage
In short, the effort to force a transition to 'sustainable' EVs is not itself sustainable. It is a hoax.
Unlike Europe, the United States is capable of producing it's own fertilizer (though the escalation in the price of NG has driven fertilizer up as well).
However, last week, Union Pacific rail lines announced that it will be curtailing shipments of fertilizer during the spring planting season. www.cfindustries.com/newsroom/2022/union-pacific-shipping-restrictions
This will seriously impact farmers in Iowa, Illinois, Kansas, Nebraska, Texas and California.
Why on Earth would Union Pacific curtail fertilizer shipments in the face of the worst food crisis in 80 years??? Well... the top two owners of Union Pacific are Vanguard (8%) and BlackRock (4.5%). money.cnn.com/quote/shareholders/shareholders.html?symb=UNP&subView=institutional
I want to remind y'all that BlackRock is literally controlled by the WEF (or, maybe they own the WEF... Blackrock is the world's largest asset manager with $10 TRILLION in assets).
neoterra.us/blog/the-manufactured-elites-part-1
In fact, just a few weeks ago the President of BlackRock said “For the first time, this generation is going to go into a store and not be able to get what they want, And we have a very entitled generation that has never had to sacrifice.” www.bnnbloomberg.ca/blackrock-s-kapito-says-scarcity-inflation-is-driving-economy-1.1744930#:~:text=(Bloomberg)%20%2D%2D%20BlackRock%20Inc.,means%20to%20suffer%20from%20shortages.
With impending global famine, I wonder why Secretary of Transportation Pete Buttigieg isn't stepping in to force Union Pacific to prioritize fertilizer shipments. Oh.. wait... Pete was groomed and financed by the WEF as a Young Global Leader. What a coincidence.
Wrap-Up
There are many other fiascos taking place... but this report is already too long. More later in the week.