EscapeFromUtopia

Adjusted for inflation, oil has been cheaper than it is right now for 55 of the last 75 years. Only the Ukraine War Spike, the boom years where demand outpaced supply in the 2000s, and 70's oil crisis were higher. Today's disruption is worse than all of them. Higher.

Draws have BARELY started. Why do I care? In 3 of 5 previous years reserves are slowly rising this time of year. In 2 they are flat. This is the earliest and sharpest fall by a month because of reduced imports. It's not even cold yet. Nights dip below 0 where I live on Friday.

This is 365 days of data, and roughly the same October/November temperatures. Look how different these slopes are when you zoom in. Last year Germany burned 8.4% of it's reserves in November. The year before it was 7.6%. We've burned 1% in 4 days and iit hasn't gotten cold yet.