Breaking News: Stuff actually costs a lot.

Yes, gas prices are up. I saw a woman fill up her old station wagon with premium the other day, and her pump total went over $90.

“Ouch!” I said to her, smiling.

“This damn inflation will be the end of us all,” she replied, then added “Let’s go Brandon,” (meaning Joe Biden should be blamed for this outrage) as she drove off.

Of course, the reason why gas is so expensive has less to do with Joe Biden or even the war in Ukraine than the oil industry itself. People stopped driving and flying during Covid, so oil producers reduced their exploration, drilling and output. Now that people are active again demand has returned, but supplies will take at least a few months to catch up. When demand outstrips supply, prices rise.

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