Macro Voices MacroVoices #551 Michael Every: Decoding The Global Geopolitical Puzzle
207 snips
Sep 24, 2026 
Michael Every, Rabobank’s global strategist, explores the geopolitical forces reshaping markets. They examine Iran, Russia and Ukraine, attacks on refineries, and the risk of a global diesel crunch. The conversation also covers energy protectionism, Greenland’s strategic importance, China’s balancing act, and dollar stablecoins as tools of statecraft. Markets round out the discussion with oil, bonds, equities, gold, copper, and the dollar.
AI Snips
Chapters
Transcript
Episode notes
Diesel Shortages Could Reshape Ukraine Policy
- Russian refinery strikes threaten diesel supplies even as Europe remains dependent on energy flows connected to the conflict.
- Export restrictions could pressure Europe to force Ukraine toward negotiations rather than continued escalation.
Diesel Is The Real Energy Crisis
- Diesel shortages threaten agriculture, trucking, food distribution, and social stability more directly than headline crude prices suggest.
- Low inventories, refinery closures, Middle East disruptions, and Russian attacks make a genuine global crisis possible.
Energy Markets May Split Into Regional Blocs
- Energy remains globally integrated even as tariffs, protectionism, and military blocs fragment other parts of the economy.
- The U.S. could use production mandates, storage, and export controls to build a North American energy bloc.