
Some Mechanics of Inflation Worth Remembering
Cato Podcast
00:00
The Supply Constraints of Gasolene Markets
We have been basically at capacity for refining gasoline decades. And if you want to do more refining, you need more refineries. We've barely had any new refineries in the us because of federal policies that make it difficult to actually produce the refineries. The same thing on the production side of gasolene markets. A, comes from crude oil. We're not making it easy to produce crude oil; we're doing the opposite. We're making making it difficult to produce crudeOil and hard to ship crude oil. So when you have something like a pandemic shut down, and it throws a monkey wrench into the way we produce, then it only magnifies the situation that we
Transcript
Play full episode