I believe that “reality” sets in by October 2023 (this year).
By this, I mean that the Fed’s liquidity-draining operations finally crush the stock market, which will then confirm for people what they are already experiencing, times are tough (for the majority of people, especially those on fixed incomes).
Soon thereafter, oil prices are going to have to go higher, possibly a LOT higher, because the Biden handlers continue to play politics with oil prices and continue to drain the Strategic Petroleum Reserve (SPR).
But all shenanigans must come to an end, and then the reality will set in for oil as well. The US does not have infinite reserves, the Permian is the last great basin and it’s finding its peak output hereabouts, but more importantly, oil drilling rig counts are declining because (…wait for it…) oil prices are too low to motivate more drilling.
It’s almost as if incentives lead to outcomes – a concept that consistently evades authoritarian ideologues.
As always, I am most looking forward to the conversation that will take place in the comments below. Your ideas, anecdotes, links, and experience(s) are all vital to our figuring this out together.
by cmartenson 
