My points here: compare to some other countries (like some EU countries, Japan , Singapore, even china) that are lacking of oil underground, cutting oil supply by supply chain or Russia invasion will for sure push up domestic energy inflation (and thus to all commodity inflation). This is completely understandable because these countries just don’t have enough oil, they rely on external imports heavily.
While in terms of US, this thing getting absurd. A country with plenty of oil and gas underground, and now energy price doubled or tripled and still facing certain level of shortage. Yes QE during 2020 played some part to push price up, but I would say not a definite part. Current admin did an EXTREMELY poor job on ensuring energy independence.
Just tell me if it’s reasonable for a country with enough energy resources and now inflation kidnapped by supply. Energy is as important as utility or I see it a part of utilities, ensuring access to utility IS a Part of Human Right, otherwise why we pay tax to government? We pay tax to government that cannot ensure my willing to use moderate amount of water, electricity and gas with reasonable cost, so what’s the point? This thing should work as utility imo (but I know some people won’t agree)
Good to these energy stockholders. All the people living in this country are now working for you.
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