94
Oil price touches $100 a barrel as energy market may be past ‘point of no return’
(www.theguardian.com)
this post was submitted on 26 May 2026
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Yup. Beware anyone predicting the future while not predicting a time line.
The market isn't predicting anything. The market is reacting to tweets and the longer this goes on the longer China keeps selling solar panels.
Things have changed since the '70s oil crisis people like to dig up.
And their EV exports have increased 40%.
The amount of copium being consumed by “experts” in finance and economics in the face of actual information is disturbing.
Iran and the AI bubble are shaping up to be the greatest economic collapse in industrial history
It's hard to know the future. People's habits are hard to change. But, sometimes there's a change that's significant enough and people don't go back.
In the current world where people were already switching to photovoltaics and EVs before the crisis, it's easy to imagine that a lot of people who switch because of the crisis won't be going back if oil gets cheap again.
Also, from what I've read, each week that the Straight of Hormuz is closed will take about a month for things to get back to normal. So, at this point, we're already talking years before things could go back to normal. Plus, if this results in another major recession, by the time the economy comes back it might look completely different.