>2% of global oil supply affected by a war >80% increase in gas prices
>>62045218how about you stop noticing things, chud?
>>6204521820% of supply comes out of hormuz, not 2%oil is INELASTIC
>>62045222The media wants me to notice things like ICE and TSA but I’m a poorfag and only fly once every six years
>>62045218reported to the ADL
>>62045218It's all fake and gay. Especially in Europe. They pay the same price per barrel, but after 5 taxes they put on top of it in some countries, and refuse to lower these taxes, the price is 4-6x what it is in other places. Even 3-4x higher in some countries than other (EU) countries. The media keep telling them that it's all due to war and crises, and big bad oil corporations and their margins. It's a lie. But seems to work. Euros believe it.The barrel of crude is in 2012 price territory. No reason for these exorbitantly high prices at Euro gas stations, other than taxes, taxes, CO2 taxes, and some more taxes on top.
>>62045218you fail to take into account that petrodollar is obsolete ever since saudis stopped being dollar exclusiveyou fail to take into account that dollar was propped up by other countries exchanging their currency for dollars before buying oilyou fail you fail to take into account that Trump lifted sanctions from Iran and Russia in matter of weeks, signalling their desperationyou fail to take into account that Ukraine destroyed 40% of refinery capability of Russia through long range drone missilesyou fail to take into account that there is a private equity/AI bubble at play currentlyyou fail to take into account that even though Trump tried to offset all this with Venezuelan oil he fucked up by finding out that the oil is much more expensive than his effortsyou fail to take into account that China found new oil fields and gold mines US empire is over, this is a sign of it
>>62045444Total fiat death.
>>62045226Point and laugh at this retard.The world supply of oil is over 1 trillion barrels. It's literally <2% of the supply.
>>62045241>Euros believe itI’ve been to Europe and talked with people there. It’s a bit like Japan where people are genuinely not the type to speak their minds and be honest and open in public but in private they tend to be more open with you. Listened to our tour guide in Greece mention how in some areas she felt like the foreign Muslims coming in outnumbered Greeks themselves, despite government provided figures saying otherwise. Prices are cheap in general but yeah, if you’re a local you can’t take advantage of that as much as a tourist from the US due to taxation.
>>62045227trvth. I don't care about normgroids unable to fly to their next whore destination
>>62045218The US government gives the elasticity of demand for gasoline at -0.02 to -0.04. That means for every 2-4% reduction in supply, gasoline prices increase 100%. So an 11% reduction in supply is around 350% increase in price. Only reason it hasn't gone that high is due to our strategic oil storage.>but...why would the cost go up that much?Imagine you had 10 guys in a desert. They purchase a single bottle of water every day for $1. There is always enough water. Then, one day, there are only 9 bottles. How much would the price have to be before one of them says "this is too expensive"? $2? $5? $10? $100? A 10% supply drop could lead to a 10,000% price change.
>>62045218Cool it with the antisemitism.
the supply curve for oil isn't a straight lineMaybe it spikes upwards
>>62045218MY CAR IS HONGRY 4 DINOSAUR BONES YUM YUM FEED ME DINOBONIES WITH SAUCE
>>62045218Here's the answer to your conundrum, anon.https://en.wikipedia.org/wiki/Price_elasticity_of_demandSorry nobody ever taught you this stuff in grade school. But this is why people say you should never stop learing.
>>62045218we got a noticer here
