You're reading a newsletter from The Indicator from Planet Money. Once a week, we curate our favorite stories and insights on business, finance, economics and why they matter. Subscribe here to get it in your inbox every Friday.If you're wealthy, it might be a little easier to take candy meant for a child.This is one takeaway from a 2012 paper titled "Higher social class predicts increased unethical behavior" that just won the Ig Nobel Prize for economics.
This is … a satirical prize.It highlights work that will 1) make you laugh and then 2) make you think. Among the paper's examples, wealthier individuals were found to cut off other vehicles more often, cheat more often in a dice game for money, AND take more candy from a jar explicitly labeled for children.
If you're wealthy, I guess the rules of society suddenly don't apply.Coming up, what expensive sulfur means for your dinner table, how low oil supply is becoming harder to ignore, and how Lego measures up to Hollywood.1) The oil crisis isn't going awayWhat To Know: The Gulf continues to send much less oil to the world than before the Iran war.Saudi Arabia's East-West pipeline that bypassed the Strait of Hormuz got shut down last week after drone attacks coming from Iraq.
If it doesn't come online within a month, it could have a seismic impact, keeping more than 100 million barrels of oil from international markets.Already, crude oil prices in the U.S.
have shot up in the past few weeks.For more than a year, stockpiles of oil have made this seem like less of a crisis than it is, couching gas prices, but they're running out.
Now, The Wall Street Journal reports the "Great Fuel Crisis" that execs have warned about for months is finally here.What does this change?: Even if the Strait of Hormuz fully reopened tomorrow, oil prices aren't just going to pop down to normal right away.Heightened prices are likely to stick around for a while as the market resets.
Making things worse, backups available t...