Except that even with commodities getting cut in half or losing up to like 3/4 of their value, we are still in a slightly inflation positive environment. What does that tell you about the state of the underlying economy?

Furthermore, you're making the classical economic fallacy of reasoning from a price shift. Oftentimes, from experience, commodity shipping volume increases in times of turbulence, as there are more arbitrage opportunities from the more volatile diffs between grades.