Paul Sankey: Crude to Sink to Below $40

Alright, we’re not at $40 oil—yet—but let’s indulge in the fantasy for a moment. Even if prices did tumble to that sacred figure, it wouldn’t be the same $40 we knew and loathed a decade ago. No, inflation—the unspoken vampire gnawing at the marrow of our economies—has quietly gutted the value of money while everyone was busy virtue-signaling. Today’s $40 is a pale, wheezing shadow of its 2015 self, and a near-insult to its 2005 ancestor. Back then, such “ultralow” prices were enough to send oil producers into existential panic. So if we do revisit that number now, don’t expect the same consequences—it’ll sting in entirely new, distorted ways. 

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