TEHRAN(Bazaar) – William O. Beeman, Professor Emeritus of University of Minnesota, says Europe is steadfast in restricting petroleum imports from Russia.
He adds: “It is not clear what will happen later this year when the need for fuel is much greater.”
Following is the text of the Bazaar interview with Professor William O. Beeman.
Q: Poll results indicate a decrease in Biden's popularity. What are the reasons for his decline in popularity?
A: Actually, that is not true. President Biden's approval ratings have been increasing. They are still below what would be "safe" for the midterm elections. His recent legislative successes and fiery speeches attacking "MAGA" (Trump) Republicans have resulted in rising approval.
https://projects.fivethirtyeight.com/biden-approval-rating/
Q: What role will the US congressional elections play in Biden's future? If the Democratic Party loses in this election, is it possible to lose in future presidential elections?
A: Congressional elections are crucial. If Republicans capture the House of Representatives, they will immediately launch all kinds of hearings and attacks on the President and his family. The investigation into the January 6, 2021 attack on the Capitol will be canceled, and no Democratic legislation will pass, making any effective legislation impossible. The chances for Republicans in the Senate are far less positive. The Republicans have nominated a number of very bad candidates. They may still win, but their chances are slim. If Democrats retain the Senate at least Biden will be able to get his judicial appointments approved. If Republicans capture both the Senate and the House, no legislation will move forward for the next two years, and no appointments will be approved. In effect, the government will stop dead.
Q: Due to the increasing trend of inflation in America, the Federal Reserve has increased the interest rate to curb it. This would mean a recession in the US economy. What are the effects of this issue in the medium and long term for America?
A: Thus far there is no recession. Unemployment is still very low, and economists have mixed opinions as to whether a recession is expected. However, both inflation and recession are very bad for Democrats, and they still will have a big effect on the election.
Q: According to the current trend, what is your prediction of oil and gas prices this fall and winter?
A: Right now, oil and gas prices are falling. They usually rise in the winter because of the need for heating oil and electricity generation, increasingly coming from natural gas. The question is: will gas prices be low enough not to be a factor in the November elections. If gas prices remain low until then, they will have a smaller effect on voter enthusiasm. And in the United States where "turnout" for the midterm elections is very low, it is as important as possible to get Democrats to the polls to vote for President Biden and his party.
Q: What is the effect of lack of energy in winter in the process of war between Russia and Ukraine? Is it possible for Europe to give concessions to Russia?
A: Right now, Europe is steadfast in restricting petroleum imports from Russia. It is not clear what will happen later this year when the need for fuel is much greater.
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