Oil Prices Are Going Up, but They're Not Just Raking in the Money

There's a big myth in the markets right now about the massive profit margins refiners are making. But remember, all their costs have gone up too. Energy stocks got way ahead of themselves. They need to get back into a kind of price alignment. The more that we do to restrict oil and gas production, the more costly it will be for people to drive electric cars or run on solar energy. If you wanted to build an electric car, it takes a tremendous amount of petroleum products. And everything that we touch in our life is not going to change because of climate change.