• Type: spark (subtype: conversion)
• event_id: 2026-05-01-gulf-infrastructure-strike-spark
• Source: Production perspective — 2026-05-01-gulf-infrastructure-strike (last refreshed 2026-05-01); prior versions in _archive/2026-04-12-gulf-infrastructure-strike.md and _archive/2026-04-10-gulf-infrastructure-strike.md
• Shift: Perspective converted to research/ directory + log format on 2026-05-03 as part of stress-test backfill. Original spark was 2026-04-10 retrospective surfacing Doe Canyon moat. Two prior refreshes archived. Current state preserved in README.md.
• Effect on thesis: Perspective born in research/. Initial key tickers: LNG, LIN, APD, TRGP, EPD, FLNG, TSM, EWT, EWY, INDA, STX. Paradigm: physics-down (Ras Laffan supply constraint propagating up the chain).
• Per-ticker (initial reads): APD ↑ (Doe Canyon moat — non-Gulf semiconductor-grade helium), LIN ↑ (industrial gas oligopoly), LNG → (Cheniere — Hormuz hedge but pulling back; mixed signal), TSM watching (helium dependency — tape ignoring tail risk), EWT watching, EWY watching (64% Qatar helium dependency), STX mentioned (storage cycle adjacency)

Pre-conversion frozen state (informational, not log entries)

The perspective accumulated thinking from 2026-04-10 onward. Kept as breadcrumbs:

• 2026-04-10 — initial spark, Iran-war-oil → Gulf infrastructure pivot (archive: _archive/2026-04-10-gulf-infrastructure-strike.md)
• 2026-04-12 — refresh after blockade announcement (archive: _archive/2026-04-12-gulf-infrastructure-strike.md)
• 2026-04-26 — perspective retrospective (2026-04-26-perspective-retrospective)

Earlier inputs that contributed to the perspective:

• Theo Loveday LNG/Helium thesis (2026-04-06-theo-loveday-lng-helium) — domain expert call on Ras Laffan vulnerability
• Zephyr long-video memory thesis (2025-06-02-zephyr-z9-long-video-memory-thesis) — cross-cutting via memory/storage demand