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

Harper Quill

Updated Monday, May 6, 2024 at 12:00 AM CDT

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.

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View source: Imgur

Top Comments from Imgur


I mean pretty much all big oil producers are part of a cartel.


Put this on every billboard, write this on the walls, bathroom stalls, flyers, graffiti, t-shirts, banners, bumper stickers, repost..


But clearly if Biden didn't fix everything he's bad! /s


I guess "price-fixing conspiracy" is a technically correct way to define a collusion


Or we could seize them and nationalize our oil production.


The fact that Larry Summers can still be invoked as a serious source for anything economy related is the only reason anyone should need to know: meritocracy does not exist.


French knew how to stop the royalty(corporations)..


When you look at textbook reasons for price increases and you don’t see any real or factual correlation to current price increases and then see corporations boasting out loud to investors and to financial media of record profits, you are left with only one possible reason they are charging more… Because they can and don’t care if it destroys the economy or pushes people into poverty. This why a healthy economy needs strict guardrails and regulations. Greed does not self regulate.


While smart a** maga stuck "thanks Biden" on their gas pumps while it was corporate GREED all along just like we said it was - in league with Trumpler for more tax cuts no doubt!


Watch financial news shows… they c** in their pants over news about f***ing over regular people… “Profits are soaring as MegaBox raises prices again”… “It’s a great time to buy MegaBox stock as their value is up 30% over last quarter!”…”layoffs at MegaBox haven’t effected its bottom line as share prices soared today!”… They get particularly giddy when oil prices go up because that’s an excuse for everyone to raise prices permanently.

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