Given the increased debt loads on most projects, a 100 bps increase from ~0% to 1% could have just as much impact as a 100 bps increase from 5->6%. In fact the

Given the increased debt loads on most projects, a 100 bps increase from ~0% to 1% could have just as much impact as a 100 bps increase from 5->6%. In fact the effect may be larger as a 0.25% -> 1% increase is a 4x relative increase in interest rates vs. a 20% increase. It's possible that the only way out of the current situation is a steady inflation which reduces the nominal debt load.