Forget crude oil. The real energy crisis right now is in diesel.
Prices for the fuel that powers everything from boats and trains to farm equipment are nearing all-time highs as global refining capacity dwindles.
Diesel is definitely the more important distillate as far as oveerall inflation is concerned. Gas just affects Happy Motoring, Jet Fuel Fearless Flying, but Diesel hits the prices of everything we eat, every toy we buy, every McMansion being built and every mine digging rare earth minerals out of the ground. How much it costs your city to do snow removal this winter and how much to pump the fresh water and the sewage. Up go the taxes to pay for it.
The Inflation is bad enough, but if/when real shortages develop, the very life blood of industrial society drains away. It's like Bleeding Out for the whole civilization. Drones & Missiles hit a few more refineries and we'll get there sooner rather than later.
RE