Poeple are thinking that consumption would still be growing if the price of oil goes constantly up, which is not the case. If you have rising prices in everything poeple would start buying less, driving less, consuming overall less stuff of everything, driving down demand for oil and thus prices.

I've told people a few times, Europe still has a last resort option when it comes to gas prices, cutting all extra tax, which in most cases is more than half of the overall price,  going from 400 to 800 euros per ton. And while Europe might still be able to pay for even such high fuel prices, other countries won't be able to, especially poor and heavenly reliant on oil ones like India.
You won't see the average 3rd world country citizen paying 3$ for one liter of gas.


If even half of what you're saying about the economic crisis, rising prices in basic goods, business shutting down, and so on and on, where is the money for investments going to come from? In a period as such isn't far more likely you will see poeple having to dig in their investments and selling them in order to pay for food and rent?


Two years ago, the price at ~8000, hashrate at ~120EH/s.
Applying that cost model on these numbers would show some really weird stuff