2min chapter

The Contrarian Investor Podcast cover image

Jordi Visser is Optimistic About Inflation, Stocks, Cryptos -- And More

The Contrarian Investor Podcast

CHAPTER

Is There Still Oil in the Market?

The housing market in the US is no longer a bull market, which means we're going to see less goods being shilled around. Fracking didn't leave as a technology until after 2010 and then you saw oil prices break down. So there's a difference between building out the energy infrastructure and having advancements in what is needed.

00:00
Speaker 2
Cool. Okay, but on clean energy, the what do you make of the argument that you still need oil to make to produce clean energy to get the infrastructure in place to do all the stuff and you know, every solar panel takes how much lithium and how much cobalt and all these other things that get what do you make
Speaker 1
of that? I agree. This is not a the things I mentioned. So the housing market in the US is no longer a bull market, which means we're going to see less goods being shilled around. So world trade is going to come back down to where it was in the prior decade, which was very, very low at the same time, China's housing situation completely new thing. And then Russia's in invasion of Ukraine is going to spend more dollars in the energy side. So there's a difference between building out the energy infrastructure and having advancements in what is needed. So if we go to 2010 again and we talk about why inflation for that decade was low, there's a lot of different reasons. But two of the technologies that had a huge impact on this were obviously the software boom, using the iPhone, using the App Store. But then the other thing was fracking. Fracking didn't leave as a technology. I mean, it came out and oil had been 150 before. And then fracking really didn't become something that I think everyone focused on until after 2010 and maybe even as late as 2012, then you saw oil prices break down. I think what's going to happen is that oil is going to continue to move higher because of what you said, which is there will be more need for fossil fuels. Second thing is we definitely have a supply issue that's out there. So I think it's going to move higher. I just think the the movements that we've seen, I mean, we had seen sharp moves from the time COVID went through, forget the negative price, but we went from 20 all the way up to 130, 135 during the peak this year. I just think we did a lot of the move and now we're going to kind of settle into a range. And if we settle into a range, that's actually very positive.
Speaker 2
Yeah, yeah.

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