If the oil companies did have record profits could it be that it is due to their concern about our leaders campaign promise " I will completely eliminate all fosil fuels"

SE Wis

IF/when that happens, they will walk away with billions. Unfortunately, it's the working man who will find himself standing in an unemployment line that will pay the price. Do you think some of those billions will be spent on retraining those unemployed employees or setting them up in a different line of work? Doubtful. Those who are retired could see their pensions and health benefits go away as well, but executives will probably get bonuses and nice severance packages (like they'll need them).

Supply & Demand pricing & Inflation aren't really the same thing.. The terms are incorrectly used all the time in the Media. Blameing big oil for most of the general present price increases is missing the point.  Inflation is largely a product of bad government/central bank money policies.. A famous Economist of the past, stated that only central governments could take a valuable product like paper, print numbers on it, & "render it worthless ! "...      


Paul

...Further on high gas prices along with every other goods.. As predicted by some scientists a while back, it's estimated that there are now about " 8 Billion people" in the world today!. Also some are predicting chronic food shortages.. Apparently the main areas of population spread are in some African countries, India & China. At one time China had a reduce population plan, but they dropped it some time back.. No wonder we have high prices on virtually all products.  And then there's also Global Warming, which is likely in part due to a burgening population.. Unfortunately, I don't expect any really significant drop in fuel prices any time soon..         


Paul

I used to puzzle over why ‘inflation’ existed at all (the last gas fill-up cost me double what I paid for my first two cars put together, though admittedly they weren’t running😁).  While wrong-headed government policy is often complicit, the main reason is mentioned in your last post: namely: population increase.  More people needing money….more money created…pre-existing money supply worth less. Even if all governments were sound, and their citizens thus confident of currency value, increasing population has to mean an increased money supply to sustain a capitalist economy.  THAT is one way supply & demand’ is actually relevant.

6 VOLTS/POS. GRD. NW INDIANA