After issuing clear warnings on this program that sub-$50 oil prices were going to be short-lived, oil expert and geological consultant Art Berman returns to the podcast this week to explain why today's $70 oil prices will go higher -- likely much higher -- and start materially contricting world economic growth.
Art explains how the current glut of oil created by the US shale boom -- along with high crude output by both OPEC and non-OPEC producers -- is a temporary anomaly. Fundamentally, we are not finding nearly as much oil as we need to continue the trajectory of the global demand curve. And at the same time, we're extracting our reserves at a faster rate than ever. That's a mathematical recipe for a coming supply crunch -- it's not a matter of if, but when.
Click the play button below to listen to Chris' interview with Art Berman (60m:06s).
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It’s quite amusing and entertaining watching the Q anon cottage industry respond to the latest drops. Much of what is contained in these drops appears to be coming true. I’m still waiting for Hillary’s arrest, but who knows? I’ll settle for everyone other than Hillary and Obama being brought to justice. Many of you ask why isn’t it happening sooner, faster. You’re impatient for the swamp to be drained. The answer requires a little thought. Trump could simply sign 10 executive orders demanding that the whole matter be disclosed and action be taken. He could be just like Obama with his pen and phone. But will that really help restore the rule of law to America. We’ve been living in a state of increasing lawlessness arguably since the execution of JFK. The rule of law must be restored and using it in an uncorrupted way to bring these deep state actors will go a long way in that regard. This is a case where the process is almost as important as the substance. Trump and Sessions get that and they’re doing their best to bring it about. Also a little Trumpian showmanship doesn’t hurt either. Timing is everything and Trump is a master of it.
