Time to get out the popcorn:
- watching nightly news and Americans complaining about the high cost of gasoline
- being told that the US has doubled its oil imports from Russia
- imports of crude oil;
- from Russia, with love;
- during the Trump administration: 15 million bbls of crude oil from Russia per month;
- during the Biden administration: 25 million bbls of crude oil from Russia per month;
- Trump: approved oil from Canada via a huge, new pipeline which would have been completed by now;
- Biden: stopped oil from Canada via that huge, new pipeline which would have been completed by now;
CNBC noted the jump in Russian crude oil imports under Brandon.
Let's go, Brandon.
The good news: price of WTI plummeted 3% today.
The bad news: WTI is still above $80.
What does the surging price of gasoline have in common with inflation?
They are both transitory.
******************************
But It's Only Inflationary If You Actually Buy It
My gasoline use and cost over the last few months in my 2012 Honda Civic.
*********************
Back in the USSR
No comments:
Post a Comment