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

...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

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

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).

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

Yes, the current administration reversed the increased productivity, best economy, and caused the worst inflation in my 76 years on this earth.  Joe-JDC

JDC

The previous administration opened up drilling permits and oil exploration on previously banned locations. The result was increased production and a promising environment for the American Oil Business. The current administration reversed all of that. Its just that simple! Nothing to do with Ukraine, Russia or Saudi Arabia.

Y's guys rule!
Looking for McCullouch VS57 brackets and parts. Also looking for 28 Chrysler series 72 parts. And early Hemi parts.

MoonShadow, 292 w/McCulloch, 28 Chrysler Roadster, 354 Hemi)
Manchester, New Hampshire

They certainly weren't shutting down wells and laying off people here in South Texas.  It was booming with oil, natural gas, and the economy was booming everywhere around the local area.  One of my sons was driving a sand truck for fracking, and he was so busy he had to work 14 hour days until the big shutdown under the present administration.  He was laid off, and was out of work for several months due to the cut back on oil refinery and natural gas shipping.  Gas was stable at $1.69 for nearly the whole term under the previous administration, and everyone was working.  Joe-JDC

JDC

Well they aren't a charity - and price controls don't work. What do you suggest?

How would you explain the commensurate and concurrent price increases on virtually everything else as well? Do we blame "Big Food"? Monetary inflation, supply chain disruptions, good old supply and demand, most of our problems lay squarely on idiot/wicked politicians and unelected bureaucrats wielding great power over our basic energy infrastructure.

When gas was $2 bucks a couple years ago, and they were shutting down wells and laying off oil field workers nobody was on here lamenting their fate.

Lowest is $4.17 so far here in New Hampshire.

Y's guys rule!
Looking for McCullouch VS57 brackets and parts. Also looking for 28 Chrysler series 72 parts. And early Hemi parts.

MoonShadow, 292 w/McCulloch, 28 Chrysler Roadster, 354 Hemi)
Manchester, New Hampshire