This month’s Beschloss Perspective weighs in on the Biden administration’s rejection of attempts to expand U.S. oil and gas production, the economic power of corporate dividends, the use of digital currency, and the Russia/China alliance.

U.S. payrolls expanded by 467,000 in January 2022, far more than first predicted, as wages climbed by 5.7 percent. 

Despite the clean air hullaballoo, U.S. oil production will average 11.8 million barrels/day in 2022.

Although the booming impact of surging prices will hit the pockets of America’s individual and group buyers, this will have the opposite effect on the thousands of companies with brands in the stock markets.

While President Biden and other world leaders met again to discuss clean air progress, all major nations, especially Europe, applauded America in its progress.

Canada’s gross domestic product shrunk in the second quarter as the same supply-chain distribution issues affecting other countries are hitting Canada, too. Its exports were plunging at the rate of 15 percent during the second quarter.

Of all energy-producing commodities, coal has always been the most disliked, primarily because it’s the most putrid as far as fume-producing fuels.

While the economic recovery maintains growing profits, major U.S. banks anticipate one of their biggest profit years ahead — such as major players J.P. Morgan Chase and Co. and Citigroup. 

The result has been fierce competition among buyers for a very limited number of homes. Also, fewer new homes are being built because of the pandemic, and older homeowners are reluctant to sell. This makes already high prices even higher.