Quote Originally Posted by MrPrena View Post
Stagflation sucks.
Sounds about right, but I would like to add something.

During carter admin, it ws more of a supply shock on inelastic goods.
Where as right now, it is demand shockon oil.
In terms diesel and octane price, i would like to also add short term supply problem from bottleneck from refinary.
part of the bottleneck from the refinery problem is excessive regulation making it unprofitable to run several refineries. hell...delta airlines bought their own refinery in Trainer, PA to save on jet fuel. the plant and another up there in the east coast were shut down because they weren't making the "BIG OIL" any money. that "BIG OIL" only pulls profit margins around 2%. the only reason it is in the billions and people go ape shit over the numbers is due to the amount of oil that is used all over the world.

Now it is booming in a few states, obama denied the oil pipeline from Canada which took away tens of thousands of jobs from several states.