I don’t think we’re disagreeing. I am saying the prime mover was probably climate change and you’re saying the disruption of supply chains exacerbated the collapse. Both can be true. I was focused on the cause.

To follow the red herring about crude oil, you’re making my point for me: you’re looking down at a busy road full of petroleum-fueled automobiles when 20% of the world’s oil supply has been completely eliminated.

To be more specific, the difference between now and 20 years ago is the United States is a net exporter of oil. Horizontal drilling, hydraulic fracturing and other nearly unbelievable technological leaps have turned the United States into an oil superpower within less than 2 decades. Aside from all of that, I truly believe that in 10 years everyone with a home (rented or owned) and a daily commute will be driving an EV. Consumer demand is far less than transportation/travel/industrial demand for oil, but it is the tail that wags the dog.