Yes, that’s true but I wonder how much damage it can do in the short term. Could $300 oil set off financial market troubles in the USA for example? 🤔

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It’s probably similar to what effects natural disasters can have, except the whole world is affected. So all profits would be affected and stocks would immediately reflect that. But I don’t think it would cause a major recession unless the price stayed elevated for an extended period of time. Sure, gas and food prices shoot up, but people just adjust their consumption.