Quote Originally Posted by Seran View Post
And so you injected a really worthless point about cost-push inflation, being a type of inflation, as relevant to these discussion of Big Oil profiteering during a national energy crisis? I pointed out a classic example of where cost-push is subject to the CHOICE of the corporation and you figured you'd push what I presume is a doctorate in macroeconomics or business management to support your theory Taco Bell is doing it wrong.
You brought it up, dude. And no, never once in this example did I interject any personal determination of right or wrong. Judgement and feefees are your domain.

Quote Originally Posted by Seran View Post
So, to recap, cost push inflation is a type of inflation which may decrease profits or be used to increase prices of consumers at the risk of demand destruction. Big Oil meanwhile hasn't seen a substantial increase in costs as again, their average publicly disclosed expense for well maintenance is $35 per barrel. Supply is constrained domestically by the active choice of Big Oil not to reinvest massive profits into capital expenditures and as a result of the API coordinated idling of production in 2020 to support market prices. Yes we've lost a fraction of imported oil (700,000) from our Russian embargo, but that doesn't justify the current illegal profiteering.
Yawn, it's like a conversation with a child. Everything I have posted in this thread previously evidences the substantial risks, costs, bankruptcies, layoffs, stock devaluations, predatory policies, court injunctions, stroke of a pen executive orders, pipeline shutdowns, environmental penalties, green initiative demands, and the overall hatred of everyone not employed within the industry is this ----------> "Big Oil meanwhile hasn't seen a substantial increase in costs".

The US produces and consumes 20% of global oil. Oil is a global market and probably the most basic example of supply and demand. Demand dropped 30% during the pandemic, and oil prices plummeted. Demand is very high now and so is the price. Even gender curious kindergarteners can grasp this.

Refineries are at 95% capacity.

The only cure for high prices is high prices.