If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash

[Cheezoholic]

21. Appreciate your insight as I'm an admitted economic idiot. I can see where Exxon would be trying to "warn"

about oil blowing back through 100 with no end in sight for the reasons you mention but also from a PR standpoint of diverting blame for any future high gas prices away from big oil in case the prices continue to stay elevated. I think part of their thinking is they see a change coming in US politics to a party that's not afraid to slap them (whether they deserve it or not, easy target). Regardless, futures trading carries more risk as its basically shorting the market if I understand it correctly. I know there are very smart people with very good tools and insight playing the game but the risk is still there. IMO it's hard to say where we're at worldwide on our reserves. It's going to affect different countries good or bad which down the line could affect our economy via the supply chain. Oil is so intertwined in our lives. I don't think most people understand just how big of oil junkies we are. (It's worse than Billy Bob quips on his TV show lol). Thanx