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The 1970’s inflation was a direct result of fuel price increases, IMHO. That resulted in a decrease in production, and consumption, and eventually cycled into the recession.

We have the price of fuel, especially diesel, more than double that under Trump. That’s only PART of the problem, the other part is the 13.7 Trillion in spending by Joe Biden in 23 months, or about 2.5 times expected tax revenue. That causes currency devaluation which along with increased fuel prices, is pushing inflation.

I don’t see it as the same problem as 1980-81. This is a new animal werein supply side economics may or may not help. So, to control inflation and a recession we have to make energy cheaper and stop deficit spending. What we really need to help the American People is a fiscally responsible government.........

That won’t happen without a balanced budget amendment.

IMHO a major factor for OPEC's power in the 1970's was the then newly created EPA making drilling for oil harder to do here. The left who say they hate Nixon seem to love the EPA Nixon created. Carter's version of the EPA made oil drilling harder to do in the U.S. When you depend on other countries for oil, they get to set the price.

Carter wasn't a failure. He was successful in his mission.