Macro Voices MacroVoices #334 Adam Rozencwajg: Understanding the Global Energy Crisis
18 snips
Jul 28, 2022 AI Snips
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Crisis Built Long Before The War
- Inventing the Ukraine war as the sole cause is wrong because deficits built long before February 2022.
- Global inventories declined for years due to underinvestment, creating a slow-motion energy train wreck.
Shale Is No Infinite Supply Source
- Shale growth supplied most global oil gains but cannot grow forever and is now showing depletion signs.
- The lack of new capacity leaves no ready supply to replace shale declines, tightening markets further.
Shift Policy To Encourage Energy Investment
- Encourage policies that boost supply rather than only help consumers.
- Show support for E&P investment to attract capital back into the energy industry.