If the pResident continues to suggest that their investment into new oil will only last "a decade" they will continue to take profit rather than invest in research and developing new sources.
But this isn't what caused inflation. I do remember some places raising minimum wage hugely, though we said it could promote inflation that was poo-pooed away and nobody seems to talk about it anymore. I also remember the government limiting who could go to work and produce things (all over the world governments did this) which would cause a limit on what was available, also a cause of inflation in prices (supply and demand). And finally, we kept giving people "free" money (borrowing it first, then just making it available) which increases the supply of money which causes actual inflation because it makes the money that is out there literally worth less than it was worth before (more supply and demand).
At its root though, too much demand vs. supply is what drives inflation. We have this money that the government just gave us, we want to spend it on game consoles, but chips are limited because the government of the place they are created shut down the suppliers... This makes game consoles more expensive. The available pile of money that is (literally) worth less drives a demand for stuff that doesn't exist. You can literally "create" money until your economy dies and folks have to have wheelbarrows full of money to buy a loaf of bread.. (see Wiemar Germany for historical reference as to how monetary policy can destroy an economy).
While the pResident wants you to believe that it is all supply chain, in reality the simple easily available cash has made our money worth less than it was before. Swaths of relief funds have a role to play, along with supply.
Anyway, don't take my word for it, read this story:
https://www.nbcnews.com/business/bu...ts-point-fingers-different-culprits-rcna16156
5 trillion in emergency spending... that's pretty much what caused the problem. Demand is high, because everybody has a fistful of dollars, unfortunately those dollars do not travel far. Then the poor have spent those fistfuls, but prices continue to rise because others have the money but they couldn't buy what they want, it isn't available... Prices rise more, but the emergency spending is pretty much stopping. Who feels it most? The people who got the free money, that's who.
