Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 20, 2022

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Wed Oct 19 14:06:25 +0000 2022

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Paul Krugman @paulkrugman

Is market power an issue? I wouldn't rule it out on principle; I still remember the California electricity crisis of 2000-1. But not what I'm hearing now 5/ — PolitiTweet.org

Posted Oct. 19, 2022

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Paul Krugman @paulkrugman

Second, smaller fluctuations can be driven by technical issues at refineries; refinery outages appear to be mostly responsible for the recent uptick in prices, and prices are coming down as these problems are getting resolved 4/ — PolitiTweet.org

Posted Oct. 19, 2022

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Paul Krugman @paulkrugman

Third, gas is actually relatively affordable by historical standards. One metric I like: cost of 10 gallons divided by average hourly wage, i.e. how many hours of work it takes to buy 10 gallons. This measure lower now than it was for almost the whole period before 2014 6/ https://t.co/TDbiAiOrjx — PolitiTweet.org

Posted Oct. 19, 2022