Economics 101

This photo has recently been observed floating in the Face Book cesspool of lazy economic thought.  Because today happens to be March 25 I thought it worthy of sharing.

Judging from the individuals posting, sharing or re-posting this image; the implication is if only the Former Guy was at the helm retail fuel prices would be at these levels.

Ahem.  

These were at those levels four years ago as a consequence of being in the throes of a COVID recession.  Our country's GDP was cratering.  The major market indices were at levels half where they are today.  Unemployment was soaring and small business bankruptcies reaching levels unseen since the Great Depression. 

I happen to believe that presidents get too much blame for bad economies and take too much credit for strong economies.  Truthfully, it is a heavy lift for a president to move something as complex as the US economy.  Nevertheless, if you believe in market economics and do not indulge yourself in magical wishful thinking it's rather simple.

No traveling + minimal demand + increased supply = low prices 

I'll remember that in November.

And be careful what you ask for.  You might just get it.....