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Monetary Politics w/ Tim Barker

The Dig

Capital Discipline in the Energy Sector

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There was a huge boom, a huge expansion of capacity around fracking in response to an earlier spike in prices. A lot of those firms ended up really wiped out because there wasn't actually the final demand there. OPEC also launched sort of a coordinated assault on the American fracking boom. And so there's a kind of rational basis to this capital discipline if you want to think about it that way.

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