MacroVoices #334 Adam Rozencwajg: Understanding the Global Energy Crisis
Macro Voices
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The Oil Market Will Not Recover Back to Pre Pandemic Condition
The world will not return to the pre pandemic normal economy because it can't. There simply isn't enough energy supply to meet pre pandemic energy demand levels, nor is there any credible plan to get back there. The only way that anhappen is because of recession induced demand destruction. We got into this, patrick, from failed energy policy, and there's nothing that can correct it but a total change of energy policy,. And it's going to be a really ugly ride.
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