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Higher For Longer | Robert Kaplan, Former Dallas Fed President & CEO
Forward Guidance
The Fed Cannot Solve All These Issues
I think there was more signals from the government that encouraged fossil fuel companies to limit their oil and gas production. And I think that's fine as long as we have alternatives to replace it, but we didn't. And so what the shareholders also did under pressure is they basically said to those companies to the extent you have cash flow,. We want you to put it in alternatives or return it in dividends and share a purchase. That's what those companies have done. The impact of it is the price of oil globally is in the 70s, not in the 40s. It also means that around the world, people are burning more coal. This is putting more pressure on low-modern income
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