Holy shit. This is 100 pages long. Itโs the entire oil midstream.
I wonโt be coy. This is the most important oil piece weโve produced. It took a while. Collaboration with @jackprandelli.
It covers what a barrel actually costs to move, who owns every link in the chain, how the benchmarks are manufactured, why insurance reprices a war instantly, and who really made the money in 2026.
Then we created the strongest bear cases we could build against ourselves, with dates and tripwires.
Everyone is trading oil this month. Almost nobody can tell you how it works. That ends today.
https://t.co/9iiCCHEqDs