Art Berman: Think Oil Is Getting Expensive?


  • Listened to this with great interest. It seems that one major consequence of your observations here is that it no longer makes sense to think of economy as a process of endless growth. In fact, there is an alternative much preferable to pursuing such an economic energy all the way down to near-zero growth and collapse.

    Do we not have an excellent opportunity as well as an obligation to have these conversations in the context of a near future in which it is necessary to have an economy that is driven by sustainable growth, and one in which the remaining fossil fuels are used directly (not that ‘bridge to …’ nonsense) in the development of renewable energy and next generation nuclear power which produces no toxic waste?

    Am I missing something here?

  • Too logical and thoughtful. Unfortunately “managers” and “investors” frequently have no real skin in the game and thus push the narrative of eventual payout and take their annual bonuses and when the time comes will bail out leaving the losers who are holding the bag on bankrupt companies, stock holders who thought their investments were bullet proof, and the most innocent of all are the mineral owners who are already being hosed with 50% and higher post-production costs from really bad leases made possible by deregulation of the gas pipeline industry in particular…

    I long opposed the export of oil and gas from this country because at some point we get back to the situation before when we were very short of reserves.

  • […] in deep trouble.—Chris Martenson, “Art Berman: Think Oil Is Getting Expensive?” Peak Prosperity, […]

  • Martyn

    I don’t understand how the oil price is imminently threatening recession (and please note I do subscribe to the Charles Hall analysis) – from mid 2010 through mid 2014 WTI was above $80. On a 2018 inflation adjusted basis, it was above $100 for more than half that period.

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