...196 countries can't all be wrong. FF's, especially Oil and Gas, are Finite Resources that also exacerbate Global Warming. We need to shift toward Nuclear Power along with Renewable Energy sources where variability is not an issue.
As for wages...see the Fed chart below...Trump rode Obama's recovery wave, then Biden successfully dealt with the worst of the global inflation shock due to COVID and Putin.
https://fred.stlouisfed.org/series/LES1252881600Q
Link: https://oilprice.com/Energy/Crude-Oil/Is-US-Shale-Production-Finally-Nearing-Its-Peak.html