The Impact of Limited Oil Supply on Economic Growth and Activity

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Oil supply is predicted to decrease in the long term due to factors such as geology and lack of investment. Higher oil prices can lead to a decrease in oil demand, economic activity, and economic growth. As people start cutting back on fuel usage, it has a ripple effect on the oil market and eventually impacts the overall economy, as oil is a crucial energy resource.

On this episode, Art Berman returns to give a broad update on the state of global oil - from BRICS+ and shale oil to the Strategic Petroleum Reserve and oil investment. As Art says, ‘oil is the economy’ and understanding the complex dynamics of the oil market provides insight into the entire economic system. How do geological luck and foreign policy create the global stage for oil markets? What is the Strategic Petroleum Reserve, have we been misusing it, and does it matter in comparison to larger energy policy blunders? What are the current dynamics affecting oil prices and how will this affect the long term out-look of oil availability?

Please note: this episode was recorded prior to the Israel/Palestine events of last weekend.

About Arthur Berman

Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and is currently consulting for several E&P companies and capital groups in the energy sector.

Watch on YouTube: https://youtu.be/n-IetuaYLmw

More info, and show notes: https://www.thegreatsimplification.com/episode/92-art-berman