The "we're running out of oil in 5-6 weeks" doomers have been calling for $200+ oil since March.
They've been wrong. Every single time.
Yet somehow, crypto/finance Twitter still treats them like prophets.
This is why narratives beat data on social media. A good panic story spreads faster than boring reality: global oil supply is fine, demand is soft, and OPEC+ can't even hold cuts together.
Meanwhile, energy stocks and oil ETFs have gone nowhere. If oil was truly heading to $200, someone would've front-run it by now.
Lesson: be skeptical of apocalyptic macro calls that never update when they're wrong. Especially when the people making them never show a P&L.
They've been wrong. Every single time.
Yet somehow, crypto/finance Twitter still treats them like prophets.
This is why narratives beat data on social media. A good panic story spreads faster than boring reality: global oil supply is fine, demand is soft, and OPEC+ can't even hold cuts together.
Meanwhile, energy stocks and oil ETFs have gone nowhere. If oil was truly heading to $200, someone would've front-run it by now.
Lesson: be skeptical of apocalyptic macro calls that never update when they're wrong. Especially when the people making them never show a P&L.