I just wrote about this BS energy based inflation narrative.
I could understand believing it if it was the only story you've ever heard. Once the truth that more dollars chasing the same goods is the cause is in front of you there is no excuse.
Discussion
It's stupid. I'm fact, in today's dollars, oil is FASr cheaper, even at $100 than it was 20 years ago.
Am I really supposed to believe that oil at $65 today is the same price as $65 on n 2008? Of course not. $65 oil today is much cheaper than then.
It's always the dollars....
2008 was the first time it hit $100. That's $153 based on official CPI numbers.
WTI has never hit $153.
Yup. While there is certainly a trend higher over the years, we are way below the overall inflation trend. Mostly due to heavy price demand for new exploration and deeper wells. At $40 they won't frack, at $100 they will frack everywhere.