War Series: Paper Barrels and Physical Constraints – The Limits of Force Majeure in the 2026 GCC Energy Shock
“In the inevitable collision between paper contracts and physical supply chains, physical reality ultimately dictates the terms.”The Divergence of Paper and Physical Energy A recurring theme in macroeconomic and energy analysis is the fundamental disconnect between financial abstractions and physical reality. The modern economy operates on the assumption of uninterrupted primary energy flows. As the 2026









