Tom Bilyeu

This is this was really unexpected for me.

China's oil situation is really getting crazy.

It feels very early for it to have this kind of reaction.

But Chinese people are panic buying gas as the government implements its largest price hike in years.

It's pretty crazy that that's how prices work in China.

The government just says, hey, here's what the new price is going to be.

And there are videos all over Chinese social media showing classic panic buying behavior triggered by a deadline.

So the government said we're going to raise it at exactly midnight on whatever yesterday, I think, and fears of ongoing shortages, which for everything that we've talked about today are obviously very founded with the straightforward moves continuing to be closed for the foreseeable future, as far as I can tell.

Now, the hike.

ironically only amounts to about $4 per tank of gas, but runs like this are common, which was shocking to me.

I looked all this up.

They're common for this kind of rise.

So especially in the age of social media, where fears can spread rapidly and become self-reinforcing, it's once you get that change where people are like, wait, is this the first of many?

Like, what's this gonna be?

Boom, you tell them that they've got a deadline and they just go crazy.

And then they start posting about it on social.

And then people are like, oh my God, this is really happening.

And so then they are like, ah, I better get gas as well.

It's wild.

So this certainly is not just a routine price tweak.