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The notion that oil prices are remotely connected to the cost of labor in any effectual way is laughable.

Oil rig workers do not make the minimum wage, at all. Neither do most refinery workers. I say this as someone who knows several people who work on oil rigs off the Louisiana coast, and have worked with (but not at) several petrochemical companies.

Right, but your point hinges on not just the price rising, but rising by the same as or more than the increase in minimum wage.