Mr. Coffee
Well-Known Member
- Region
- USA
- City
- A Demented Corner of the North Cascades
No, it is all about perceived supply chain and infrastructure risk.Oil is the same price as it was when gas was 30% cheaper.
Its all about confidence in the giant casino we call an economy.
There are four places in the world where most crude oil is refined into things we can use. China, the Untied States, Russia, and around the Persian Gulf. Two of those are currently war zones. The remaining two are, for the moment, running flat out (at about 95% capacity) and have been doing so for some months. And they probably can't continue running that hard much longer.
I am sitting here enjoying the fact that we are forcing an extremely rapid transition away from fossil fuels.