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"There is widespread concern that this global food crisis also has an impact on food prices in industrialized economies." (Christiane Baumeister, Lutz Kilian)

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"The price patterns seen in international trade are also reflected in the domestic prices for meat, dairy, eggs, and

corn. " (Dave Mead)

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"The global oil market has had a “swing supplier” that could balance crude supply and

demand for decades. Such a supplier could ramp up production when oil demand is rising and curtail

output when the market is glutted, thus moderating oil price volatility. " (Maurice R. Greenberg)

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"We find that a decline in oil

price negatively affected markets after 2014 when oil price was very low, but not

before 2014 when the price was relatively high. These novel findings suggest oil

price level could affect the impact of a decrease in oil prices on financial markets." (Ha Nguyen,a Huong Nguyen,b and Anh Pham)

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"Due to the nature of the global market and supply of oil, the only way to reduce the harm of gas price increases is to use less of it" (Andrew Holland, Harper Dorsk)

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People that file for unemployment get EBT and checks so that they can support themselves to get by everyday. But a lot of people like to misuse them, and that's why unemployment is very controversial currently.

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Its very high because of covid, and even before and right now. But there was a big spark seen when covid hit because people had kids to take care of when it hit. But also, people didn't want to get sick so they mostly quit their jobs so they didn't

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"Unemployment is high when financial discounts are high. In recessions, the stock market falls and all types of investment fall,

including employers' investment in job creation." (Robert Hall)

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"These pockets of unemployment have kept the aggregate unemployment rate high and the noninflationary unemployment rate climbing as these groups have grown in the labor force." (Stephon Marston)

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People are also depending on unemployment checks and such. For EBT, if you file for unemployment, you can get EBT, and others who have a job and make decent money are mad at that because sometimes all of their checks go straight to bills and not really towards food. The people who aren't doing anything are fed and supported by the government.

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A lot of people have a tendancy of quitiing their jobs right away because their not happy with them or either they just think that it doesn't suit their personallity.

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The US has options of being "unemployed" or "not unemployed" and people are bothered about this because they can't believe that people still don't have jobs in todays world. But alot of the "unemployed" come from teens, pregnant women, and nonwhites, and alot of this is because people don't have jobs that suit them.

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"Most people don’t expect gas
prices to stay up more than six
months. They may change their
driving habits instead." (Edward Smith)

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People are also starting to buy more electric cars instead of buying normal cars that use gas because of how expensive the prices are. Normal cars are sitting in the car lots, but electric ones are being bought instead, so their seeing a rise in electric cars.

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A lot of cars are just sitting in the car lots because nobody is hardly buying a car anymore. They are trying to save money instead of spend because of the economy right now

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First, the increased production is simply not large enough, in contrast to global supplies, to make a difference. Second, for the most part, the new oil production brought online over the past five years has a high extraction and investment cost, coming from either shale oil formations or deep offshore.

To generate an economic return, this new production relies on the high price of crude oil; if global crude prices collapsed, exploration companies would not make enough return on investment to justify drilling.

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Global Production of oil is about 89.6 million barrels of oil per day. If all else remains equal, we should expect increases in total supply to reduce oil prices over time. High prices should also work to drive greater supply over time by increasing the return on investment for oil production.

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some geopolitical events could cause uncertainty, which then depresses global demand, because if any weak oil shocks or factors affect current and future oil supplies, then we would see oil prices start to increase

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a lot of oil prices dropped sharply due to the Great Recession, its correlation to stock prices and oil prices contradicts the conventional expectation that cheaper oil prices benefit oil importing economies like the US

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when purchasing shares, they use tools that are higher priced for the future, some other countries make higher volatility more than the price to be higher, but since its so easy to build a budget that works with a $50 barrel than one that works when oil zooms between $20 through even $80 a barrel

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Many people view the United States as a possible swing supplier. In the last eight years, it has added more oil to the global market than any other country,

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meat prices have declined 2.3 percent, lobster prices experienced shocks from the demand-supply chains, milk and cheese food service shut down due to an over-supply

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The shift of this demand in imports and exports affects foods that are imported, like meat, fish, dairy, and eggs.

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Baumeister, Christiane, et al. “Do Oil Price Increases Cause Higher Food Prices?” Economic Policy, vol. 29, no. 80, 2014, pp. 691–747. JSTOR, http://www.jstor.org/stable/24030050. Accessed 13 Mar. 2025.

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Food prices are heading for a bigger increase in price in as much as 30 years, and according to the Food Agriculture Organization of the UN, 37 countries were facing food crisis, it is predicted that millions of people will be driven into poverty by higher food prices

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Mead, Dave, et al. “The Impact of the COVID-19 Pandemic on Food Price Indexes and Data Collection.” Monthly Labor Review, 2020, pp. 1–12. JSTOR, https://www.jstor.org/stable/26962467. Accessed 13 Mar. 2025.

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Maurice R. Greenberg Center for Geoeconomic Studies. Oil Price Volatility: Causes, Effects, and Policy Implications. Council on Foreign Relations, 2016. JSTOR, http://www.jstor.org/stable/resrep16761. Accessed 13 Mar. 2025.

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Nguyen, Ha, et al. “Oil Price Declines Could Hurt U.S. Financial Markets: The Role of Oil Price Level.” The Energy Journal, vol. 41, no. 5, 2020, pp. 1–22. JSTOR, https://www.jstor.org/stable/26937344. Accessed 12 Mar. 2025.

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Increases in the accurate price received by farmers for products such as corn, wheat, soybeans, and rice can adjust with the increase in food prices; however, they only account for a small fraction of the retail cost of food.

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Marston, Stephen T., et al. “Employment Instability and High Unemployment Rates.” Brookings Papers on Economic Activity, vol. 1976, no. 1, 1976, pp. 169–210. JSTOR, https://doi.org/10.2307/2534049. Accessed 13 Mar. 2025.

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Smith, Edward. “Car Dealers Contend with High Gas Prices on Top of Supply Constraints.” Business Journal Serving Fresno & the Central San Joaquin Valley, no. 3259241, Mar. 2022, p. 16. EBSCOhost, research.ebsco.com/linkprocessor/plink?id=994ca842-0120-3c97-8531-2235010f3e0e.

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Hall, Robert E. “High Discounts and High Unemployment.” The American Economic Review, vol. 107, no. 2, 2017, pp. 305–30. JSTOR, http://www.jstor.org/stable/24911334. Accessed 13 Mar. 2025.

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Holland, Andrew, and Harper Dorsk. Cause & Effect: U.S. Gasoline Prices. American Security Project, 2012. JSTOR, http://www.jstor.org/stable/resrep06068. Accessed 13 Mar. 2025.

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everybody focuses on other food prices, but this distracts higher prices in foods like fruits and vegetables hardly changed, while others like cereals and baked goods, or meats, poultry, and fish continue to experiences double-digit per cent price increase