We Study Billionaires - The Investor’s Podcast Network

TIP572: Finding Value in the Oil Market w/ Josh Young

Aug 27, 2023

01:08:43

Snipd AI

Oil expert Josh Young discusses key developments in the oil market in 2023, including Buffett's updated oil positions, OPEC's concerns, the impact of China's reopening on oil demand, and the USA dumping their SPR reserve. They also talk about shale production, reinvestment by supermajors, alternative energy sources, market timing, and the impact of oil prices on the economy. Additionally, they explore Josh's bullish oil thesis and the effect of higher interest rates on the industry.

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Quick takeaways

The podcast highlights the impact of China's reopening on oil demand and its potential for significant growth in the global oil market.

The episode examines Warren Buffett's investments in oil companies and his bullish stance on oil prices.

OPEC's concerns about underinvestment in oil and the potential risks of an oil shortage are discussed, emphasizing the importance of maintaining and expanding productive capacity.

Deep dives

Oil market highlights in 2023

The podcast episode covers the highlights of the oil and gas market in 2023. It discusses the adequacy of Russia's oil supply and highlights the impact of China's reopening on oil demand. The episode also explores the underinvestment in oil and the concerns raised by OPEC about an oil shortage. It delves into the investment strategies of Warren Buffett in oil companies and analyzes the decline in shale production in the US. Overall, the episode provides insights into the current state of the oil market and the factors influencing its dynamics.

Introduction

2min

Volatility in Natural Gas Prices and its Relation to Oil and Buffett's Investments

18min

China's Potential Economic Resurgence and Increase in Oil Demand

4min

Ads for NetSuite and Foundation Devices

2min

US and China's Strategic Petroleum Reserve Levels

17min

Uncertainty in the Economy: Recession or Recovery?

10min

Confidence, Fear, and the Price of Oil

18min

Guest Insights and New Position Announcement

2min

On today’s show, we bring back oil expert Josh Young to give an update on the oil market. This discussion touches on Buffett’s updated oil positions, why OPEC is encouraging others to invest more in oil production, the impact of the China reopening on global oil demand, and more.

Josh is the Chief Investment Officer and Founder of Bison Interests, which focuses on investing strictly in oil and gas equities.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro.

01:53 - The highlights of the oil and gas market in 2023.

04:08 - How Buffett has shifted his investments in oil.

11:00 - Why OPEC is sounding the alarm bells on a shortage of oil.

16:13 - The impact of the China reopening on oil demand.

23:03 - Josh’s thoughts on the USA dumping their SPR reserve while China is building their reserves.

29:14 - How a rollover in shale production may impact oil prices.

33:13 - How heavily the supermajors are reinvesting back into new production.

38:09 - Josh’s view on alternative energy sources.

43:47 - Josh’s approach to market timing in the oil market.

52:59 - What the price of oil may indicate for current economic conditions.

53:34 - How oil stocks have performed since 2022.

65:42 - Josh’s view on how his bullish oil thesis may be wrong.

69:02 - How higher interest rates are impacting the oil industry.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Check out our newly released TIP Mastermind Community.
Bison Interest’s research.
Check out our recent episode : TIP569: An Investor’s Guide to Clear Thinking w/ Chris Mayer or watch the video here.
Follow Josh on Twitter.
Follow Clay on Twitter.

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We Study Billionaires - The Investor’s Podcast Network

TIP572: Finding Value in the Oil Market w/ Josh Young