So, in layman’s terms - since I know just a bit more than squat about petroleum exploration, extraction and distillate production - what does this mean for Joe Blow on Main Street?
I’ve pinged the OP so we might get his point of view on your question as it appears he may have some insight to the matter, based on his opening comment.
I sense a bit of tongue in cheek when characterizing your knowledge level but I’ll take your question at face value and give my opinion as a fully-qualified member of the Joe Blow Main Street mob: the likelihood of a repeat of the 1970s is now so remote as to be on the order of finding a unicorn and price stability in the West Texas Intermediate market price will mean long-term transportation fuel costs are a known input for multiple industries. The inflation that the Fed has proposed as the reason behind interest rate moves is an invention of a fertile mind with a underlying desire to have a hand on the economic levers to achieve an unstated political goal. However, the goal can be surmised as one without PDT getting a second term, IMO.
So, how’d I do? Does this comport with you knowing “just a bit more than squat” and your interest in how Main Street either benefits or suffers?