I agree... this is more akin to the long-term rising increases in energy that happened in the 1970's. Inflation is here to stay. And, that is BAD for business, and stocks.
We have conversed on similar with predictions before. I can’t remember if we were right or not. I hope we are wrong in the right direction this time.
This is a created energy price inflation and “shortage” but the effect is nearly the same. The production pipeline and replacement of suppy has been fractured intentionally for the most part.
The fool-hardy belief that we can run the world on EV and such is of course being fostered and pushed at the expense of the nation. Our competition are laughing at us all the way to a higher plane of dominance.