Prof G Markets · Monday, September 14, 2026
Rising energy prices are causing a wealth transfer from consumers at the pump to entities like homeowners in Odessa, Texas, energy companies such as Exxon, Saudi Aramco, and Chevron, and landowners on the Permian Basin. The speaker suggests this is a regressive tax disguised as foreign policy.
“This arguably is a transfer of wealth from people at the pump to homeowners in Odessa, Texas, that have seen their home prices up 77%. Exxon, Saudi Aramco, Chevron. There are a lot of Americans making a lot of money off of higher energy prices.”
“But it again, transfer of wealth from people at the pump and almost every product incurs a price increase because it came to you using diesel fuel. Right? So you have again, you have wealth transfer from diesel-dependent families. School buses, drive-throughs, to landowners sitting on the Permian Basin.”
“So, this is what this is. This is a regressive tax dressed up as a foreign policy story.”