Shocking Revelation: Oil Companies Colluded to Cause 27% of Inflation Increase in 2021

An Oil Price-Fixing Conspiracy Caused 27% of All Inflation Increases in 2021, according to a recent investigation conducted by the Federal Trade Commission (FTC). The findings reveal that American oil companies colluded with the Saudi government to artificially hike gas prices, resulting in a staggering cost of $3,000 for the average family last year. This startling revelation has left many wondering what action can be taken to address this issue.

The image accompanying this article provides a clear depiction of the situation. At the top of the image, a bold title reads, "An Oil Price-Fixing Conspiracy Caused 27% of All Inflation Increases in 2021." Below the title, a statement attributed to Matt Stoller and dated May 03, 2024, highlights the FTC's discovery of evidence implicating American oil companies in collusion with the Saudi government to manipulate gas prices. The consequences of this manipulation have had a significant financial impact on households across the nation.

The image also features a line graph representing "Nonfinancial Corporate Business: Profits After Tax (without IVA and CCAdj)" from 2010 to beyond 2021. The x-axis represents the years, while the y-axis indicates profit per person, ranging from 600 to 1,600 in increments of 200. The graph reveals a consistent profit range between 1,000 and 1,400 until 2020 when it experiences a slight dip, indicating a recessionary period. However, in 2021, the graph takes a sharp upward turn, reaching close to 1,600.

A significant detail highlighted in the image is the gap between 2020 and 2021. This gap is marked by a pink area with an arrow pointing to it, drawing attention to the timeframe in question. The label accompanying the pink area suggests that something crucial occurred during this period, prompting further investigation.

The comments from social media users shed light on the general sentiment surrounding this issue. Many express frustration at the collusion between oil companies and emphasize the need for widespread awareness. One comment suggests spreading the message through various means such as billboards, flyers, and even graffiti. Another comment highlights the impact of greed and the necessity of strict regulations to prevent economic destruction and safeguard vulnerable communities.

Amidst the discourse, there is mention of Larry Summers, an economist, who is criticized for being consistently wrong in his predictions and analysis. The comments also touch on the role of the executive and legislative branches of government, emphasizing the importance of understanding their respective responsibilities in shaping the economy.

It is evident that this image has sparked a range of reactions, with some advocating for nationalizing oil production, while others suggest developing alternative energy sources to decrease dependency on gas. Additionally, the image's caption makes a reference to the link between higher oil prices and reduced consumption, which may have positive implications for the environment.

The image and its accompanying information raise important questions about the influence of oil companies on inflation, and the subsequent impact on everyday individuals. As discussions surrounding this issue continue, it remains crucial for policymakers, economists, and the public to explore effective measures to address price-fixing conspiracies and ensure a fair and stable economy for all.