RE:Powell blaming the war in the UkraineYes the war is part of the reason for high oil prices and more important to all politicians in USA, high gasoline prices. Other VERY important factors are a lack of refinery capacity because a new refinery can't be built in the new woke world, nor would any responsible board authorize spending billions on something that needs 20 years plus to pay for itself. Just a few years ago, they were all on the verge of going broke. Same goes for pipelines. Same goes for major drilling binge to increase production beyond natural reservoir declines. Same goes for lack of major exploration spending outside USA. And so on. Meanwhile, we all love our cars,air travel, chemicals, plastics, pavement, etc etc and people in China,India,Africa want all that stuff too. So, not in my lifetime, or anyone else in the next 50 years, will the world be awash in oil. Ukraine or no Ukraine. There's always a geopolitical'event' affecting oil. It's convenient to blame it all on evil Putin, may he burn in he77.
masfortuna wrote: A fair analysis from the CBC ? Cool!
Here is a little perspective of what the media sees as the solution to inflation. I actually thought it was a fair analysis and was surprised when the author called out Powell's claim that high energy is because of the Ukraine.
https://www.cbc.ca/news/business/inflation-economy-cheap-oil-1.6492634