High oil prices only accelerate China's transition to renewables, and rewards them for all the investment they've made so far, both in national energy production and in selling panels and EVs to the world.
It hurts the US far more, especially with this admin's anti wind and solar policies.
This will take a long time to play out. Discount every short term prediction as both Iran and the US are forced to play a long game.
I drive an EV so I gain. Though most lose more than they gain, this isn't a complete loss for anyone.
The too-big-to-fail companies and Trump's cronies, you mean?
You can't do things like "make plastics" or "run entire industrial districts" off of them, at least not yet. Both are incredibly important to China for the time being.
You also can't run most blue-water naval ships off of them, but that's a bit less impactful.
If you know your enemy’s position strengthens with time while your position weakens with time, under a certain mentality, you attack now.