Worst Oil Price Shock Since 1980 - When Will It End? (If Ever) | Energy Expert Art Berman
Wealthion, Released on 3/8/22
According to today's guest, energy expert & 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?
Arthur Berman is a petroleum geologist with 37 years of oil and gas industry experience. He is an expert on U.S. shale plays and currently consults for several E&P companies and capital groups in the energy sector. Art has published more than 100 articles on oil and gas plays and trends and been interviewed by CBS, CNBC, CNN, CBC, BNN, Bloomberg, Platt's, Financial Times, Wall Street Journal, Rolling Stone and New York Times. He is also an associate editor of the AAPG Bulletin and was a managing editor and frequent contributor to theoildrum.com. Art worked 20 years for Amoco (now BP) and 17 years as consulting geologist. He has an M.S. (Geology) from the Colorado School of Mines and a B.A. (History) from Amherst College.
Adam Taggart is the Founder of Wealthion. He is also Co-Founder and former President of Peak Prosperity. Adam is an experienced Silicon Valley internet executive and Stanford MBA. Prior to partnering with Chris Martenson (Adam was General Manager of our earlier site, ChrisMartenson.com), he was a Vice President at Yahoo!, a company he served for nine years. Before that, he did the 'startup thing' (mySimon.com, sold to CNET in 2001). As a fresh-faced graduate from Brown University in the early 1990s, Adam got a first-hand look at all that was broken with Wall Street as an investment banking analyst for Merrill Lynch. Most importantly, he's a devoted husband and dad.
Worst Oil Price Shock Since 1980 - When Will It End? (If Ever) | Energy Expert Art Berman added by Herman James on 03/07/2022View all posts by Herman James ?+'