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China’s state-owned oil company CNPC, the China National Petroleum Corporation, has signed a $400 million deal with the military junta that controls Niger, providing a much-needed infusion of cash after the coup damaged relations with Niger’s previous big oil customers, the United States and France.
The post China Buys into Niger Junta to Secure Oil Supply appeared first on Breitbart.
Venezuela's socialist dictator Nicolás Maduro attempted to issue a message in English to U.S. President Joe Biden on Monday to discuss the upcoming expiration of Biden's generous oil and gas sanctions relief package to his regime.
The post Venezuela’s Maduro Sends Devastating Message to Biden in English: ‘I You Want I Want I You to Want I Do Want’ appeared first on Breitbart.
The ruling socialist regime in Venezuela documented an 18-percent increase in oil output in the first trimester of 2024 when compared to the same period in 2023, according to information published by the Organization of the Petroleum Exporting Countries (OPEC) in its latest April 2024 report.
The post Venezuela Oil Production Grew 18% After Biden Sanctions Relief appeared first on Breitbart.
The Biden White House claims to have heralded “a great year for American workers” with more jobs created “during any year of the prior Administration.” However, most are part-time or government jobs, paid for by taxpayers. Additionally, the constant influx of illegal immigrants distorts the job market.
The March jobs report shows 303,000 new jobs added. However, most of the jobs were part-time. Meanwhile, year-over-year creation of full-time positions has been in recession territory since December. Even these part-time jobs are largely going to immigrants, including illegal immigrants. Consequently, considering both part-time and full-time employment, there have been almost no jobs created for citizens.
Nearly one-quarter of the new jobs are government jobs, paid for by taxpayers. This percentage is about double the norm for government job creation, which typically falls between 10 and 12 percent. In addition to the fact that government jobs drain taxpayer funds, they also do not represent an investment in the future. Jobs created by a private company today, if successful, will grow and create more jobs in the future. Private companies develop new industries, products, and services that facilitate investment and the development of other private companies. This is why the US economy is much more robust than the economy of a centrally planned, communist country.
Even in communist China, the rapid economic growth of the past few decades was led by the private sector, not the public sector. Another problem with a growing public sector is that it draws talent away from the private sector. People who might otherwise have been inventive or innovative, creating something new in the private sector, will be absorbed into government jobs that produce nothing.
In addition to there not being enough full-time jobs, the job market is also plagued by swings and fluctuations. Inflation is a constant feature of the Biden economy, making markets more susceptible to speculation regarding Fed policy. Usually, as election time nears, the sitting president, running for reelection, will decide that the level of inflation is too low and will cut interest rates to induce an illusory job boom. Signals from the White House and the Fed suggest that they are mulling over such a destructive move now, despite the fact that the US still faces high inflation and has suffered cumulative inflation of over 18% since Biden took office.
Biden’s student loan forgiveness plan is an example of a shortsighted policy that will give people the illusion of a better economy. People who will have thousands of dollars’ worth of debt wiped clean will feel instant relief and forget that every product they buy is more expensive than under Trump. As a populist move, those wishing to have their current or future college debts erased will also vote for Biden.
Like any other government transfer, the student loan forgiveness program is transferring money from taxpayers—who may or may not have been able to afford college—to people who borrowed money, attended college, and will now enjoy the economic benefits of an education at the expense of others. The trillions Biden is giving away through this and other programs, which began during COVID, are driving up the deficit, increasing the debt, and eroding the dollar’s buying power.
There are areas where job creation and real economic growth could be fostered, such as by increasing Liquified Natural Gas (LNG) exports. The energy industry creates highly paid, full-time jobs for non-college graduates, which is something this country is running short of. However, Biden caved to the climate crowd and has halted approvals for export certifications for LNG, a commodity whose price has nearly tripled since sanctions on Russian energy exports reduced the supply to Europe and the world.
Cutting these LNG jobs and revenues is considered a victory for climate activists. However, the Energy and Commerce Committee, along with more than 150 House Republicans, including Speaker Mike Johnson, R-La., are working to reverse Biden’s ban on LNG. They argue that demand will remain the same, while Biden is effectively cutting the supply, thus driving up prices. Expanding US LNG exports would bring down prices, create jobs, increase the size of the US economy, and afford the US diplomatic advantages, bringing the US closer to its European allies.
If the Biden economy is considered good, perhaps we should revert to the supposedly bad economy under Trump, where inflation was low, unemployment was low, gas prices were low, illegal immigration was being addressed, and Russia dared not invade Ukraine.
The post Biden Job Creation: Part-time, Government Jobs, and Distorted Unemployment Numbers appeared first on The Gateway Pundit.
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bec, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons
Tareck El Aissami, former Venezuelan oil minister, has resurfaced in handcuffs, charged with treason, money laundering, and corruption.
The post Socialist Purge: Venezuela Charges Hezbollah-Linked Former Oil Minister with ‘Treason’ appeared first on Breitbart.
The latest oil price-tracking data suggests Russian crude oil is selling far above price caps imposed by the G7 nations in 2022.
The post Russian Oil Shatters G7 Price Caps in Defiance of Sanctions appeared first on Breitbart.
Ukraine used Cessna-sized drones to attack deep inside the Russian Federation in the early hours of Tuesday morning.
The post Ukraine Makes Deepest Strikes Inside Russia Yet, Hitting Factory and Oil Refinery 800 Miles From Front Line appeared first on Breitbart.
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Argentine President Javier Milei asserted in an interview on Sunday that he "would not have any problem" imposing diplomatic sanctions against Venezuela's socialist regime, suggesting he would be willing to convince other countries to support similar measures.
The post Argentina’s Milei Suggests Rallying Latin America to Sanction Venezuela After Biden Failure appeared first on Breitbart.
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