The politics of misguided economic policy

Kojo A. Quartey

Basic supply and demand tells us that suppliers/sellers want to get the highest price for their products and buyers want to pay the lowest possible price.

If buyers really want a product, especially a necessities like gasoline, they will pay a higher price for it. In this case, the supplier/seller can effectively take advantage of or take advantage of the buyer. In these inflationary times, we’re seeing this in pharmaceutical companies, dare I say gasoline companies and many other suppliers.

Yes folks, suppliers are increasing their profit margins at the expense of many of our consumers. For example, in August 2022, Exxon Mobil reported a profit of $17.9 billion, the highest quarterly profit reported by any oil company in history. Chevron reported $11.6 billion, Shell reported $11.47 billion, and BP reported $8.45 billion.

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