Why Gas Got So Expensive (It’s Not the War)

A video on YouTube. In Explainers, a Krater category.

Summary by Krater

This video examines the history and economics of global oil production and pricing, concluding that structural supply limits and underinvestment mean high fuel prices are here to stay.

From the video

Answers: Why are oil and gas prices so high?

oil market history
OPEC production quotas
shale oil revolution
crude oil supply and demand
gasoline price breakdown

What it concludes

Oil transport by rail is two to three times more expensive than by pipeline.
Crude oil price per barrel is not strictly dependent on the cost of producing that barrel.
Refining accounts for 18% of a gallon of gasoline's price.
Distribution and marketing account for 12% of a gallon of gas's price.
Taxes account for 11% of consumer gas prices.
The price of underlying oil accounts for 59% of the price at the pump.

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