• The demand of oil and gas has remained about constant.
• The supply of oil and gas has remained constant. Putin has only threatened to cut off Europe.
• The cost of production for oil and gas has remained constant.

So, the three factors that should affect market prices have remained relatively constant, yet somehow the cost of oil and gas has doubled for the end consumer. Based on speculation?

Is it the oil and gas companies that are setting the prices? Even if they aren’t personally setting the prices, they are literally earning more money for doing no extra work. The cost of production is the exact same as it was before the war. The supply and demand are nearly the same. Yet, the oil and gas companies are making DOUBLE the money from average hardworking people.

Why are people getting mad at Putin for this? How do you interrupt this as anything other than a failure of capitalism or the work of greedy oil and gas companies?

Can someone with an economic background enlighten me?