MacroVoices #334 Adam Rozencwajg: Understanding the Global Energy Crisis
Macro Voices
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The Oil Market Is Getting Closer and Closer to a Black Swan Event
All of the growth in he last decade has come from the shales. We have blindly believed that those shales can grow infinitely. But even the biggest oil field is not infinited and we've reached the point now where those fields are showing their age. They're beginning to exhibit depletion. The white house announced another 20 million barrels would be sold from the strategic petroleum reserve for the purpose of trying to game gas prices lower. This is not a russia story, and these problems will persist, you know, for years to come.
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