Yossi Gestetner Profile picture
Job: Data-Driven Strategist. Side Job: Commentator on US Politics/Economics. Gig: MC & Speeches. Created: #EconomicStressIndex.

Mar 6, 2022, 40 tweets

Gas prices in the US are rocketing, rising 7, 11 and 8.5 cents for a gallon regular over the last 3 days into Saturday numbers released by AAA. The national average stands 19.2 cents shy from the all time AAA high of $4.114 reached in July 2008 when George W. Bush was president.

Two years ago March, the world rushed into panicked lockdowns based on a flawed count of how rapid Covid spreads AND what portion of cases end up dead. By mid-March I posted a 20 tweet thread outlining why the math is off and it's my pinned tweet since. But here is the issue:

Many people still think that the US lost 1 million to COVID because we haven't Faucied enough. They don't consider that panicked policies resulting from a frenzied narrative made things worse. Any request for deliberation, debate and sanity was shot down as "downplaying COVID."

Most people shut up to avoid being accused of "ignoring COVID." I am not going to outline here how the math was wrong; how policies made things worse on COVID where people didn't get care or the rise in suicides in the West and extreme famine in already-poor countries.

A person who wasn't seen it until now, won't woke up now.

We are 10 days into the same thing with Russia: Anything less than pushing for panicked policies that can boomerang with a MASSIVE COST to lives is shut down as being pro Putin and not caring for human life in Ukraine.

Details and deliberation do not fit into one tweet, headline or TV chyron. It's easier for clicks and views to go with bumper sticker stuff than to consider all options. It's easier to go with the flow than to hold the line. This is deadly sad and we haven't seen most of it.

The feel-good Arab Spring of 2011 toppled a government in Yemen but the country is at war since then; leaving hundreds of thousands dead; 70% of the population in need of humanitarian help, and half children under age of 5 in malnutrition.

Read details.

bbc.com/news/world-mid…

The national average price for a gallon gas regular in the US hit $4.00 overnight; closing in on the record high of $4.11 from July 2008.

Most of the recent spike in oil prices is not yet factored into the gas prices so brace for impact.

Aside from Russia, other top oil producing countries include Saudi Arabia, China, and Iran. Considering that we are now inserting values in oil buys, it's time to drop their oil too and pay $12 a gallon in the US (triple current price) until the US can produce more energy alone.

In 3.5 days from now, Russia reaches the 2 week mark that Putin reportedly boasted in Sep 2014 that it will take him to control #Kyiv.

The narrative that it was supposed to take 48 hours is, well, a narrative.

Meanwhile, his brutality against civilians is intensifying. Sick.

Banks in Russia are welcoming China services following Visa's & Mastercard's cancel culture steps against random Russians that have no say or sway on Putin.

Erratically-decided bigoted/xenophobic policies against Russians in ways that help China is really productive...

🤡 🤡

Care about Ukraine because it's an humanitarian disaster. Also care about Yemen where more than half children under the age of 5 are malnutritioned thanks to the Saudi/Iran proxy war there since the 2011 Arab Spring.

Oil from them IS good?

Just checking your moral conscience.

Today @SecBlinken gave a public green light for NATO country Poland to give weapons to Ukraine which can be backfilled by the US.

Putin will likely see it as an escalation.

"R U saying we do nothing?"

I am saying whatever you do, expect a reaction no matter if U R right/wrong.

"So you think Putin is right? You think we should do nothing?"

Putin is wrong and the West should take steps. What should be done is below my pay grade, but whatever you push for be prepared for a reaction and to participate in it.

Are you ready?

Cool.

We are in agreement.

Russia is indirectly threatens to cut off energy to some in the West.

Of course, if you read this thread 3+ days ago in the AM you knew that this is a potential if not obvious counter path for him.

(Relevant screen shot attached)

Flashback video: @GermanyUN delegation laughing around (end of clip) after Trump warned that Germany will be too dependent on Russian oil.

Note that Trump's warning about Russian energy and lack of defense spending by Europe was for years sold as Trump "weakening" NATO.

🚨 🚨 🚨 New record high for gas.

In 2008 it took TEN WEEKS for the price of a gallon gas regular to rise from $3.50 to the then-record of $4.11. Now in less than 10 DAYS it rose more!

Year over year, price was up $1.15 a gallon in 2008. Now it's up $1.39 and is still rising!

Just FIVE days ago, @Sen_JoeManchin said he would "gladly pay 10 cents more a gallon" to hit Russia with sanctions.

Gas average then was $3.728.

It's now 44.5 cents higher!

This is EXACTLY why you shouldn't rush into big policy moves -- you don't grasp the consequences!

Europe plans to cut Russian gas imports by two thirds by the end of the year through "diversifying its suppliers, increasing renewable hydrogen production and improving energy efficiency in households."

COVID policies 2.0: Crushing the public without hitting the issue head-on.

Biden, @jrpsaki keep saying there are 9K approved drilling permits.

1) Approved permits is no excuse to shut projects midstream.

2) By shutting down projects like the #KeystonePipeline, many holders of the above permits don't want to move ahead out of fear of a shutdown.

Look out Big Oil!

Before this is over, you will be pushed into donating any profits above $92 per barrel and above $3.50 per average gallon gas. The other option will be an added tax so you guys will keep pledging away big bucks to keep the tax away.

#HelpUkrainianRefugees

Video: 4 months ago, @SecGranholm laughed at the idea of increased US oil production. In the interview as posted online by Bloomberg, @JenGranholm blamed OPEC for prices and said the Biden Plan for energy is to diversify.

Now @jrpsaki pretends that Biden was pro production.

Over the weekend, @SecBlinken green-lit Poland to send MiGs to Ukraine. But Monday and today, the US rejected Poland's plan to send it to a US base in Germany or to fly it to the US.

Neither Poland nor the US want to deliver it directly as of now out of fear of Putin.

"Courage"

Fascinating how the "principled" thing the last two weeks is for companies to shut out from the economy random Russians with no say or sway on Putin.

This is the reverse response to the "Muslim Ban" on 6 countries which didn't ban most Muslims globally & banned many non-Muslims.

It's yet another illustration that so much of political/policy principles are merely narratives that society goes along despite its bigoted nature and... society feels righteous about it!

Mindless zombies.

No ability to think; no guts to speak up. Sleep walking into insanity.

By welcoming foreign fighters, Zelesnky smartly paved the way for governments to send in special forces, sharp shooters and what have you to take on Russia.

If some of those soldiers get killed, the sponsoring country can claim that those were independent mercenaries.

🚨 🚨 🚨 Reuters: Meta will allow Facebook and Instagram users in some countries to call for violence against Russians and Russian soldiers in the context of the Ukraine invasion."

Note that it says Russian separate from Russian soldiers.

"Principles."

reuters.com/world/europe/e…

Biden is blaming Russia for the economic shock of the energy hike as if he is an observer. However, Biden policies - including running from Afghanistan a half year ago and the sanctions on Russia which are boomeranging on the US - created this mess in the first place.

There are no bio labs in Ukraine which is why we are worried that Russia may use it.

There was no spying of the Trump Campaign and the spying on him proves that US intel had reason to believe that he is a threat.

״That’s Not Happening and It’s Good That It Is.״ - @theammind

Zelensky admits what this thread has chronicled from the start: Ukraine has an info war too.

While it's a good tool, the West should not rely on propaganda to rush into erratically-decided polices that can boomerang and/or which can make things worse on the ground.

If he wants to spread disinformation to demoralize Russia and mobilize his country, good for him. But it's insane for lawmakers and newsmakers in the West to push for certain policies (and without debate) as a result of fake/hyped news that are accepted as fact.

Here is an example of a boomerang from erratically-decided policies such as sanctions on non-government Russian entities/people: Russia is seizing airplanes owned by companies in countries that placed sanctions on Russia.

cc @lesliejosephs

CNBC quotes someone that "the idea of an entire aviation market being taken offline and flouting international laws, that’s new."

How old is it for non-government citizens to have their house/yachts/planes grabbed from one weekend to the next and without a adjudication?

🚨 🚨

A gallon gas regular in the US averaged a new monthly record high of $4.222 in March according to @EIAgov.

This is up 20% from February's $3.517 per gallon and up 94.6% from the average of $2.168 per gallon paid on average for all of Trump's last year in office.

"Russia’s ruble rebound raises questions of sanctions’ impact," headlines the AP.

Meanwhile, gas in the US in March averaged 20% above the Feb average.

Sanction-pushers will say the West didn't sanction enough.

Like COVID panic spreaders claim we haven't Faucied enough.

"The White House on Thursday [Today] announced THE LARGEST EVER Strategic Petroleum Reserve release," headlines CNBC because the rushed sanctions over the last 5 weeks against a major energy producing country worked out great for the West.

The average price for a gallon gas regular during the past week was at an all time high of $4.328 in the US according to the @EIAgov.

AAA's daily average to hit an all time high overnight.

Diesel was at records the last two weeks per EIA.

eia.gov/dnav/pet/pet_p…

The average price for a gallon gas regular in the US is at another record and is 50% higher than the same date a year ago.

Note also by how much prices are up from a month ago.

The rapidly-imposed energy sanctions on Russia boomeranged on the US (as warned here from the start).

Three months ago, Russia invaded Ukraine. The US responded, in part, by imposing sanctions on Russia's energy which led to the insane energy costs on the West of recent weeks/months.

Now, the US is imposes new sanctions on Russia that will - again - boomerang on the West. 🤡

🚨 🚨 🚨 If vehicle gas usage in the US this year will be the same as it was last year, and the year over year price change for a gallon gas regular will remain as it is now ($1.895/gallon), motorists will be draining an extra $255.5 billion for gas this year.

$255,502,850,000!

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