Everyday we here reports of high gas prices and grocery stores with empty shelves. Do you ever wonder why this is happening? The short answer is greed and politics.
Problems first began in 2020 when the Covid-19 Pandemic hit. The demand for goods began to slow because people were staying home rather than eating out, going to movies or attending sporting events. In accordance with the laws of supply and demand; demand when down, supply went up, and prices went down. As Covid-19 restrictions began to ease, supply demands began to increase but supply chain was lagging behind. Shiploads of supplies sat off the coast of California waiting for a place to dock and unload. Low supplies, higher demand, prices increase.
Enter the politics of the 2020 Presidential Election. When there is a change of political parties in the the White House, it is typical to blame the new party for changes in economics. The current political narrative says gas prices are higher because of “Biden’s policies”.
Biden’s “Green Deal” policy was an offense to the Oil and Gas Industry so their response was to reduce inventory (or not increase supply as demand increased). Demand increased, supply decreased, and up went prices. The end result, record profits for Oil and Gas Companies. It was a greater political advantage, (most of the O&G industry tended to be Republicans), because it allows the Republicans to blame the Biden Administration.
The higher fuel prices translate to higher product prices. If it cost more to transport the product to market, then that cost will be passed on to the consumer.
I am not opposed to someone making a profit, but making a excessive profit while too many being miserable. Stop playing politics with peoples lives.