Kontrarian Korner #36 - Doomberg

Yesterday I had the pleasure of chatting with Doomberg for part 3 of my podcast series on oil. We bounced around a bunch of different topics, from geopolitics and Trump, to his view on the Permian Basin and OPEC, to other sources of oil supply like the Vaca Muerta in Argentina. It was a great follow up to the first two parts of the series.

Podcast Summary

* The geopolitical big picture, from sanctions to Canadian energy tariffs, and why the US and Canada will probably cut a deal.

* His overall view that energy markets well supplied today.

* Why natural gas pipeline capacity is the bottleneck for Permian oil production in his view.

* His thoughts on the Vaca Muerta in Argentina, and other potential sources of oil supply growth in coming years.

* Why peak cheap oil is a myth, and why the gold to oil ratio will probably continue to go higher.

* Why oil prices going up in dollar terms is more of a reflection of dollar devaluation than oil getting scarcer or more expensive.

* His thoughts on the long term future of OPEC, US refining capacity, and LNG.

* Europe and Germany’s energy policy when it comes to hydrocarbons versus renewables.

* What he would look for to potentially get more bullish on oil prices, from a flush and collapse of OPEC, to geopolitical dislocations (which admittedly would be short-term).

* Which energy subsectors he would focus on for opportunities.

* The impact of AI on energy demand growth.

* His brief thoughts on abiotic oil versus fossil fuels.

* Book Recommendation: The Deep Hot Biosphere by Thomas Gold

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