The oil market effects have been fascinating to see. I only vaguely paid attention to it in the past (back in the peak oil days) but it's interesting to see how the chain of things work. You can produce oil type A and it can be useless because you run refineries type B, but those type B refineries are more profitable to run because the byproducts are really valuable. So you sell oil A and buy oil B and everyone is happy but then one day you go and raise oil B prices and you end up selling cheap oil and buying expensive oil so even though you produce more than anyone else, you still suffer the consequences. In fact, you can process oil A through your things but then the fancy machinery you bought sits idle, and you raised the money to buy that on the assumption you could process oil B and get byproducts.

That and the constraint on GPUs and datacenters and all has really brought home to me what a globalized economy we live in and how much our prosperity has depended on us being peacefully happy to trade with each other. One of my favourite books on the general subject of trade is A Splendid Exchange which gives a cool directionally-correct view of how valuable trade is.

Funny to think that Pax Americana would be ended by America.