Agree completely. Man is economically naive, and that is being incredibly generous. Higher energy prices effect an increase in every step of the process of adding value to every product and service.
Rooting for higher oil prices is like praying for gasoline to rain down on a forest fire.
Canadian Shale, per BBL, at cost is $12. WTI could fall to $19/BBL and they’d still be fine.
$1.82 in San Antonio
Totally agree. Oil prices are way too high based almost all on market speculation. Take oil out of commodities and the price would decrease considerably. Or require that oil buyers take physical possession would make speculators more hesitant to bid up the price lest they be stuck in possession of a lot of over priced goods.