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Good call out. Edit - FWIW, energy sector stocks are also down YTD (certainly correlated with lower prices of an inelastic product).

I also realized the linked sourced from Coatue hasn’t been on HN and is a good source for independent discussion like this. Submitted: https://news.ycombinator.com/item?id=36565261

> crude oil is a commodity, and it going down is a good thing

Unless you happen to believe that climate change is real, and market-based pressure is useful in its mitigation.

Shoveling more money at oil producers is not the answer. At high prices, disastrous products like tar-sand oil becomes viable.

it’s usually not a good thing cuz it’s indicative of demand being down which usually means the economy is weak