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Home » Has Solar Energy Antipathy Been Subdued?
The Beschloss Perspective

Has Solar Energy Antipathy Been Subdued?

President Joe Biden has quietly flushed out future fossil-fuel reduction and elimination dates.

February 3, 2023
Morris Beschloss
TW0223_electric car charging.jpg
Electric car power charging, Charging technology, Clean energy filling technology. 3D illustration | Getty Images/iStockphoto

It wasn’t too long ago that the negative outcry against all types of fossil-fuel energy (oil, coal and gasoline) was shunned by the world’s major nations. Heading this charge was incoming President Joe Biden, who shut down a major oil supply entity from across the Canadian border the day after he entered the White House.

Subsequently, global energy use came from across the world wherever possible. This was greatly reflected in electric cars, which became popular almost immediately. While this bizarre foolishness has since been moderated, oil’s finale has been lessened and is no longer mentioned aggressively by its main directors.

While this anti-economic propaganda caused much grief in constant news headlines, it is being quietly reinstated in several areas where it had been segregated as a grievous linchpin.

President Biden has quietly flushed out dates of future reduction and elimination, but not before putting a mark of government control in oil and coal, as well as the other areas on which America’s leading economic sectors depend.

If President Biden runs for another four years in office, he will likely have much to answer for regarding how badly he has handled the energy sector, as well as other aspects of the economy.

U.S. Corporations Accelerate Costlier Debt Payments

Chief executives of U.S. corporations are aggressively paying down debt as higher interest rates increase the costs associated with future higher interest rates.

Finance chiefs across industries are feeling the pinch of higher borrowing costs. These are especially obvious as the Federal Reserve shows no signs of ending the successive number of bond increases anytime soon.

With such bank interest rate increases already on the table worldwide, it’s obvious that unpaid debt will be more expensive in the coming months.

Such worldwide action is likely to become more impactful in the coming months, and this cost factor of current debt will likely become more substantial in the near and long term.

With such a backdrop, companies across industries and credit ratings are accelerating preparations for a potentially large economic downturn.

To avoid possible extremes hitting their future finances and credit ratings, broader internal steps are being taken. These include cutting back on internal costs and possible layoffs in some major corporations.

At this point, most of the larger corporations are aware that the U.S. government will become increasingly tax-minded. This is especially true as President Joe Biden contemplates the last two years of his term and the potential of running again after being saved by a moderate biennial turnout at the polls.

Will Lower Bank Mortgage Bond Buying Help Stock Shares?

When the Federal Reserve set out on a drive for increased mortgage bonds, averaging 0.75 percent each quarter, it put a substantial downward purchase of all types of stock shares.

Fortunately, this may be coming at a much slower pace, generated by banks’ net rating. This buying, as interbank purchases, also held back treasuries, giving several major banks a second thought.

As the recent biennial buying pointed out, stock share buyers were dropping, causing a lull in the successful drive in stock shares — the mass movement behind the last 18 months of America’s overall stock markets.

This will likely also regain the positive positions of oil stock-based companies, which had been weakened most recently.

In our pipe-valve-fittings sector of the valve industry, it also reinstated the lagging impact of distributors and end-use buyers, who were starting to show concern as the year 2022 ended.

Also positive for that sector was President Biden’s vastly overdone U.S. government purchasing. This may be greatly recharged as Biden’s supporters are putting pressure on the president’s desire for another four-year term. 

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