I have been calling for "it's going to be worse than ever" since the beginning of the recent attacks on Iran.
After all, even though we've had $4 and $5 gas in recent memory, I can't imagine why nor do I remember what the "excuse" was.
The Strait of Hormuz, and all the world's oil production, was completely on-line and the supply chain was 100% operational!
Now, we have a near-total closure with no end in sight, the world still completely dependent on oil but now a huge % of the oil has been taken off the market.
Worse, much of the oil infrastructure has been damaged/destroyed, and it will be years before it's repaired!
Worst of all, the current Middle East conflict (WW3?) is nowhere NEAR over, but rather seems to be just beginning. If the conflict ended tomorrow, it would take years to repair the damage (physical and economic). But the war is absolutely NOT going to end tomorrow.
Furthermore, Russia has lost some oil production capacity in the past months, as Ukraine has been attacking them with long-range drones (courtesy Starlink and NATO intel as to where to hit) Sure we don't get our oil from Russia, but someone else does. And now that someone else is going to compete for OUR oil.
Long story short, we're a GLOBAL ECONOMY for better or worse, and when part of the world suffers, we all suffer. The price goes up and down for ALL.
This morning I left on an errand, and gas was $3.86 at the cheapest gas station. On the way home, it had already risen to $3.99 at the same gas station!
But that's the absolute cheapest wholesale gas station. Most stations are $4.10 or $4.20 right now.
My part of Texas is usually a bit below the national average. I can only imagine what more expensive parts of the country are paying.
Topic: Gas Crisis Prediction Coming True (Read 317 times)