I wrote a post today explaining why the oil markets, which in the end are the most important markets in the world if we consider economic growth, are utterly corrupt. As a consequence, those markets now and in the future will impede the growth which humans apparently require to accommodate growing populations and afford those new humans the greatest comfort possible. This crude oil market hosedness, along with actual scarcity, will eventually, and inevitably, result in the deterioration of those precious standards of living we cling to, even for most of those who consider themselves well-off at present.
Have we forgotten the price spike of 2008? That spike was more related to supply & demand fundamentals than not, but it seems like anything could happen now.
The craziness is in the graph. Look at the wild price swings in recent years. Click to enlarge. Source
Nobody said anything about that post. There were zero comments on that post.
Now, I understand that most of my regular readers have little to say (comment-wise) about what I write on DOTE, but, I mean — c'mon on!
I just told all of you that the oil markets are fucked, and in the post I explained in very precise terms why that is so. And nobody, I mean nobody, has anything to say about that?
I am a little dumbfounded by this.