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Please don't perpetuate they myth of energy prices being the source of inflation. To start, the price of WTI (US Crude) was well above $100 in 2008, peak over
by beezle 5y ago
Please don't perpetuate they myth of energy prices being the source of inflation. To start, the price of WTI (US Crude) was well above $100 in 2008, peak over $140. The period from late 2010 to 2015 was spent between $80 and $110. As recently as 2018 H2 the price was on a $70 handle and 2015-2019 from $35-$75, compared to the $60-85 range of 2021 and $70 today.
The period 2003-2009 for natural gas was $6 to well over $12 per Mcf. The recent peak was on a $6 handle and is now back below $4.
Energy prices have been trading in the same price band for much of the past 25 years with brief runs outside (2008 above and 2020 below).
- SavantIdiot 5y agoYou are mixing up the price of crude with the price of energy. Crude needs to be refined and transported as gas. That's where the huge spike is coming from. https://www.usinflationcalculator.com/inflation/gasoline-inflation-in-the-united-states/ https://www.usinflationcalculator.com/inflation/gasoline-inf...
- beezle 5y agoI'm not mixing up anything. The primary input to the price of gasoline is..crude oil. Link below is gasoline futures back twenty plus years. Please tell me again that we have not previously had significantly higher prices for a significantly longer period of time? I'm not seeing that. https://finviz.com/futures_charts.ashx?t=RB&p=m1 https://finviz.com/futures_charts.ashx?t=RB&p=m1 Compare that chart to the also availbe WTI, Brent, natural gas and heating oil.