Environmental econ phd here again: I wrote a non-expert's guide to how economists study the oil market (and why $6 gas looks like a healthy economy to everyone but you).
Last week, I mentioned a debate I had with a prominent macroeconomist about whether the physical vs. financial markets were actually signaling a crisis. A few people from here then asked me what I think about the market and the impacts on inflation, the stock market, etc...
I realized most people who are starting out just need a basic mental model for the oil industry and how you can pull the weekly EIA data so you can track the market yourself. I wanted to write something that explains the physical supply chain and why it's so fragile. I hope you find this useful!
https://softcurrency.substack.com/p/how-to-be-your-own-oil-economist
