These graphs are helpful for thinking about inflation in a global and historical context. If you were one of those people who felt that only gas prices mattered and that we should do whatever it takes to bring down gas prices, consider that the U.S. has contributed to about 25% of all emissions. Cheaper gas means more people buy gas, which means that more people drive their cars, which emits greenhouse gasses, which contributes to devastating events like the flooding in Pakistan in Summer 2022.
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Disclaimer: This is my personal blog. I neither speak for my employers, nor do I require my students to agree with the thoughts expressed here. Opinions are my own.
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July 2023
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