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I don't see how any of that disproves my reasoning. It just claims that things are complicated, while not establishing that the complicated system can produce the results you claim (you also haven't cited the physical prices in question).

Also: I'm in Toronto, Canada. Please don't say "we, as a country" etc. here. Gas price rises here were also congruent with oil price spikes being not quite as bad as in 2022.

And during 2022 I was paying close attention to both the pumps and the quoted oil prices on the tickers. I also made note of where the pump prices were in April 2020 when the oil futures went negative, and watched the recovery. I therefore have a mental model that accounts for taxes.



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