Feb

24

 IMHO, the oil price spike is about inelastic delivery. So they release from the SPR [Strategic Petroleum Reserve] … what happens if hoarding develops as I expect?

My work indicates that consumers are oblivious to the current implications. The cognitive dissonance is off the charts. They may talk, but they've done little about it. As an example, look at Prius sales. Not hard to find them on lots here in CA.

That SPR flow gets absorbed quickly. On the other hand, I'm looking at this as a possible new car cycle.


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