Thanks for sharing Art.
Yet is it correct to value oil on human labor?
Humanity did not go from human labor to oil directly e.g. for agriculture or transport.
So how about putting it vs horse power / coal (for steam power, etc) ?
Hat tip to your work,
Will
Enjoyed the interview art. The role oil played in major historic events I found fascinating and was information I never knew before. Thanks for the history lessons. Great info overall including futures of oil. ??
Enjoyed the interview art. The role oil played in major historic events I found fascinating and was information I never knew before. Thanks for the history lessons. Great info overall including futures of oil. ??
Thanks for keeping up the great analysis. In this interview I was surprised to hear your prediction of 6M/day by end of June. I am not arguing against your prediction, just curious as the EIA weekly production figures are still in the mid-11’s. I would have thought we already went over the cliff, and the “rebound” in prices would be slowing production declines?
Awesome interview with George! It is one of my favorite sources for the macro content. Keep up the great work! Oil is such an important part of the equation in the macro world, as you pointed out in your interview.
Thanks for sharing Art.
Yet is it correct to value oil on human labor?
Humanity did not go from human labor to oil directly e.g. for agriculture or transport.
So how about putting it vs horse power / coal (for steam power, etc) ?
Hat tip to your work,
Will
Will,
I gave you the link. You are welcome to do the conversion to horsepower if you like.
Best,
Art
Enjoyed the interview art. The role oil played in major historic events I found fascinating and was information I never knew before. Thanks for the history lessons. Great info overall including futures of oil. ??
Tim
Enjoyed the interview art. The role oil played in major historic events I found fascinating and was information I never knew before. Thanks for the history lessons. Great info overall including futures of oil. ??
Tim
Tim,
Thanks for your comments.
Art
Hi Art,
Thanks for keeping up the great analysis. In this interview I was surprised to hear your prediction of 6M/day by end of June. I am not arguing against your prediction, just curious as the EIA weekly production figures are still in the mid-11’s. I would have thought we already went over the cliff, and the “rebound” in prices would be slowing production declines?
Art,
Awesome interview with George! It is one of my favorite sources for the macro content. Keep up the great work! Oil is such an important part of the equation in the macro world, as you pointed out in your interview.
Kind regards,
Jarrod
Thanks, Jarrod. I plan to start regular podcasts of my own in June.
Perhaps you should consider subscribing to some of my premium services: https://www.artberman.com/plans/comparative-inventory-packages/
All the best,
Art
Hi Art. EIA report at 11.4 MB. Still calling 6 MB by end of June? What am I missing?
I’ve modified my estimate since it became clear that storage would not be filled.
Since I’m not a politician, I change my interpretation with new information. That is science.
I think EIA over-estimates production–and it IS and estimate. Wait 2 months for the truth from them.
Art