High Oil Prices Are All About Supply and Demand
We need to be energy independent again!
Why It’s Related to Supply and Demand
High Oil Prices!!! We can’t blame that on the oil companies. Joe Biden chose to close the pipeline. Or, actually, the people who elected him chose to do that, cutting the supply and making us dependent on foreign oil again.
When the supply of any product is reduced and the demand remains the same, then prices go up. We all learned that in economics class in our high school days.
Energy consumption, and therefore demand, was reduced during the COVID-19 pandemic since people stayed in their homes and traveled less. So that helped keep prices under control as the supply was reduced.
But now that demand is going up again after the pandemic, and Biden still makes us dependent on foreign oil, we have a supply problem. So it’s only expected that prices will continue to rise. Again, it’s all about “supply and demand.”
Mitch McConnell mentioned that Janet Yellen admitted to “A Gargantuan Mistake.”
