Peak Prosperity Interview: Don’t Get Used To Today’s Low Oil Prices

This interview with Peak Prosperity’s Chris Martenson explores the oil price shock that is coming a few years in the future.

There is no conflict between this future view and my current belief that oil prices will probably remain in the $40-$55 range for the near term.

For at least the next year, the focus will be working through existing inventory surpluses while controlling output. Until that happens, there is little chance that oil prices will break out of the range boundaries that have existed for the last two years. Geopolitical supply interruptions could change that scenario and I am watching the unfolding crisis in Venezuela very closely.

At the same time, the lack of investment in E&P projects outside of shale plays will have profound implications for future supply.

“Don’t Get Used To Today’s Low Oil Prices” is in part about that future likelihood.