Most sound economic theory states that the higher the price of a product, the more of that product that a supplier would want to offer for sale. If Exxon cannot product more oil or gas in the USA, it is only because our own government won't let it.
That would make sense, but take an economic class. This is an inelastic market. The demand will be there, no matter the supply/price. Also, there’s the cartel issue.
So, they are making far more profit by delivering less product.
Is it criminal? I dunno. It’s certainly making a very small few VERY, VERY rich.
Most sound economic theory states that the higher the price of a product, the more of that product that a supplier would want to offer for sale.Yea at the higher price, but reality is, increasing supply drives down the price...It doesn't get anymore basic.