RE:Post from IV board:Personally, I believe the western worlds biggest concern is avoiding runaway petroleum prices that lead to inflation. That could trigger a lack of confidence that leads to higher interest rates. With extraordinary high levels of debt already , that would lead to a crippling of additional funding for infrastructure and more particularly the social spending and build back better hoopla Etc Etc.
We are already witnessing a developing energy crisis with nat gas outside North America.
Present surpluses held within Opec are keeping the oil market in check till sometime next year. After that, there has not been enough investment anywhere in the Oil market. Shale fracking is rather quick but other projects that are needed to supply the other 85 % of the market are for the most part very long term.
The world is probably well on its way to longer term shortages. That is why I am a Perma Bull
As for Biden and his homologs they can perhaps now see the writing on the wall and that says WTF were you thinking!!