Energy costs are more elastic than some other necessaries, within certain limits. And energy price goes all over the place over the medium term. In general, people have cut way back on discretionary use of fossil fuels. I expect demand to fall further if prices stay high.

I have a hard time hating inflation since I built my financial house on the premise that it was inevitable and that I needed to plan for it. I just continue worry about the fragility of the entire system as asset prices skyrocket. But what is happening is something that was not unexpected....it’s just more of a wild ride than I like, at the moment.

Just got back to my room. Up all night photographing the Milky Way . This post was scheduled. Headed to bed.

Surprised this didn't happen earlier due to Trump' tariffs. Possible the Pandemic delayed it?

Just got back from the Bend, Oregon area. At night, there are so many stars it's difficult to see the constellations! I only had my binoculars and was trying to find the Andromeda Galaxy. Too many tall trees blocking the view. I will have to get out on the golf course next time to get a better view.