In this episode of “Econ in Real Life” I explain why gas prices went from record lows in 2020 to record highs in 2022 using supply and demand. I also talk about policies that we shouldn’t adopt and some long-term issues with encouraging oil and gas companies to produce more. Do you like these types of video? Let me know if the comments and be sure to like and subscribe. Thanks for watching.
Students- Need more help? Get the Ultimate Review Packet
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Teachers- The worksheet for this video is in my Economics Case Studies Worksheets
https://www.acdcecon.com/standardecon
8 Comments
I was the second like!
OMG I LOVE UR VIDS PLS KEEP POSTING
Hi Jacob! thanks for giving us nice content videos
OPEC+ also has an effect on petroleum prices that don't exist in most other markets. They generally keep prices artificially high but depending on how well they work together can help the market to be stable or highly volatile like with the Saudi-Russian price war.
Great stuff
Hey Mr Clifford. I just graduated high school and never learned economics. Can your course be used by itself for a sufficient understanding or is it meant/only able to be used as a supplement?
God bless this man, I would be lost in class without him.
Whoever had this idea of doing econ in real life should get credit.