When you move a US produced product from only sales in the US to global sales, you will always see the cost rise... the more dramatic the move the higher the price move.
The US is producing more, but it has doubled its exports over the last four years... good for the industry, not so good for consumers.
Everything else is mostly a supply line or demand shock to bring consumers back to reality after so much monetary and fiscal stimulation.
Even for US produced oil - already a global market - the EIA reports that last week US production was up 7.62 percent over a year ago. But the surging economic demand is more than the production increase.
Industries hate bringing on new supply during times like this because if demand returns to normal levels they have an oversupply... equipment and staff have to be right sized, and capital investment goes to waste.
Dorsey doesn't work in an industry that actually produces anything.
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