Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 20, 2022

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Wed Oct 19 14:08:57 +0000 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

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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

What happened in 2014? The fracking boom — which was, it turned out, a bubble, with massive losses underwritten by lenders who overestimated the returns. Not reasonable to expect gas as cheap as during that era 7/ — PolitiTweet.org

Posted Oct. 19, 2022