I heard from a guy who is an expert in the gasoline refining industry. That business has something called the "crack spread", which is the difference in the price of crude oil inputs and the price of output of refined products. That crack spread peaked ridiculously high, something like 4 times the usual margin (higher even then when Hurricane Ike closed a lot of Gulf Coast refineries). Refineries have been running at full tilt and inventory levels are about what they used to be, except diesel which is much tighter now and putting upward pressure on refinery prices. The end result, I gather, is that it's not primarily the price or volume of crude oil that was responsible for our high gasoline prices, but uncertainty and scarcity (especially in diesel) driving up the crack spread for refined products. Again, I'm no kind of expert on this myself, but that's what I took.
According to https://www.eia.gov/tools/faqs/faq.php?id=709&t=6, the USA is the largest, w ~ 20% of the world's total production; ~11% for both Saudi and Russia
Ticket prices for Bruce Springsteen's shows are angering some fans https://www.cnn.com/2022/07/22/entertainment/bruce-springsteen-high-ticket-prices/index.html
I don't see where he said anything that is remotely proof of high gas prices being intentional. Do you just make up **** and post random tweets that don't really deliver on what you claim?
That'll happen with the "historically low unemployment numbers" we keep hearing from BLS and the Fed. I mean, if companies have 4 ish trillion in the bank ready to be deployed, maybe they should've loosened that belt in the years after 08 before workers cynically decided wage scale and loyalty was one big joke,
They may say Technical recession. That phraseology has been used in the UK in the past. They might not considering how poorly "transitory" went for them.
Well Japan was a Lost Decade because economists don't like the D. Not sure wtf happened after 08 but stonks went up so...party on?
Not strictly inflation related but the dollar to Euro is very strong for the U. S. right now. It's a great time to head to Europe.
They are in a massive energy crunch. Why is this a great time to go? To save 15% on food and lodging?
Yes, in addition to anything else a person would want to buy there. Also, it would help their economy and be good value. Would you advocate not going because of their energy issues? Who does that help?
