According to today's guest, energy expert and petroleum geologist Art Berman, the world is now experiencing an oil shock -- the magnitude of which we've rarely seen before. Oil prices had risen tremendously over the past two years off of their 2020, but the recent outbreak of war in Ukraine has propelled them into a higher orbit.
The trade embargoes currently under consideration against Russia in response to the invasion sent oil futures briefly up to $139/barrel last night. That's nearly twice the price oil traded at the start of the year, just two months ago.
And it's not just oil. The price for natural gas in Europe has increased 5-fold since 2020.
How much worse is the situation likely to get? And what economic repercussions will these runaway energy prices cause? See the YouTube Video for the charts and graphics: https://youtu.be/kTEMGCixF5c
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