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The Food & Energy Crisis Has Only Just Begun | Doomberg
Forward Guidance
The Challenges of Oil in the US
Oil is a liquid at room temperature. The technology needed to ship it around the world is far simpler, which means that market is far more global and less heterogeneous than natural gas. Oil could go a lot higher but those types of price spikes tend to self correct in the sense that they destroyed demand and destroyed the economy. And so the only question is at what price level do we trigger economic recession and or depression if we're not already on the path.
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