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?
This is a companion discussion topic for the original entry at https://thegreatsimplification.libsyn.com/arthur-berman-brics-strategic-petroleum-reserve-metaphysics