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How is spending by the US government related to energy prices?

If anything the subsidies for renewable energy (build out and research) would give fossil fuels more competition.

I think the logic is government dollars competing with private dollars, especially during a supply shock, will send prices up

This inflation seems like a global thing.

The US dollar is a global thing as well.

Although inflation is global, some countries have it pretty low. For example, Portugal is at 1.16%. Two years ago it was negative. Another point is that Portugal is actively moving to renewable energy. Currently I believe they are at 28% or more.

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