Events in Syria Could Impact Crude Oil Market

No, they won’t in a meaningful way. Imagine all the madness we have been through for almost 3 years now following the madness of COVID. And yet, oil prices are in the cellar. Apply inflation and see where real-world oil prices are in 2009 dollars for example. With this madness and the inflation we are going through oil should be way into the 3 digits. But it aint. I have a theory of why that is. And it is not demand destruction from renewables. Those need a lot of hydrocarbons to keep systems up and running. No, it’s because the world’s economy is in the doldrums. We have lied to ourselves for decades. We believed all the nice figures the financial world threw at us. Much of it had no substance. The music stopped. 

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