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J'-remy said:
when did we go to a $15 min wage? you can't blame anything on something that didn't happen.
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They got what they wanted without even having to raise the minimum wage. Many of those bottom tier workers making just above minimum wage that are now making $15/hr thought this was going to be great, until they realize how much inflation is hurting them (at the grocery store, gas for their car, utilities, etc.) The thing is, it'll never "reset." It might stabilize in the future, but don't expect wages and prices to drop to pre-Biden (or even pre-Covid) prices.
Gasoline is a bit different though, as speculators in the commodities market control much of the price - it's more of a roller coaster like the stock market. If more opportunities to drill and still make money are made available here in the US, you'll see oil investors jump back into drilling. From what I understand, the areas that Biden just allowed, aren't worth fooling with at the current price of crude. Right now I don't think the oil companies are too disappointed because they're making more money with less speculation or new drilling at the moment. Keep in mind that you don't just drill a hole in the ground and starting reaping the profits....there's a lot more to it. A lot more focus on return on investment -- just because oil exists there, doesn't make it profitable to drill for it.
Bob could probably share some insight from his experience in the oil industry.
 
prices have gone up all over the world not just the USA. if you think your paying high gas prices check out what they pay in Europe. Gasoline at 6 a gallon is still cheaper than bottled water. I do not want to get into politics as i can't stand either side. the president doesn't control the price of gas companies like Exxon do. people give too much Blame/credit to whatever puppet lives in the white house
 
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