The Trigger For $200 Oil This Year And Destruction Of The Economy | Doomberg
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- čas přidán 12. 06. 2024
- Doomberg, Head Writer of the Doomberg Substack, discusses the factors that could push crude oil up to well above $100 a barrel, as well as also bear cases for oil that could cause the price to retrace $50.
*This video was recorded on April 6, 2024
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0:00 - Intro
1:13 - Geopolitical risks and oil
8:00 - OPEC supply
10:20 - Oil price if war breaks out
13:10 - Strategic petroleum reserve
16:10 - Higher oil price and recession
17:35 - Phase out of ICE cars
24:54 - Bearish case for oil
27:10 - Peak oil
32:45 - Doomberg
#economy #oil #investing
Do you think oil will spike above $100 a barrel this year? Comment below and don't forget to subscribe!
FOLLOW DOOMBERG:
Website: doomberg.com/
Substack: doomberg.substack.com/
Oil will be above $100 and will stay above for pretty long this time if Trump in the office next year in my own opinion.
Excellent Video David (as always).
Ukraine will grind away for a few more months before they collapse from exhaustion. I think Putin is simply too stable and predictable to uoset markets, l mean if he didn't freak out at the grotesque Crocus shenanigans then it seems that tryly nothing fazes the fellow. Whereas there is perhaps an 80% chance that the middle East will suffer an escalation, likely Israel provoking Iran some more by blowing up a refinery or two. Far less predictability there with how much Likud and actual public opinion will with continue their heavy handed retribution and how far they are willing to provoke Iran and Lebanon so even if the poo doesn't hit the fan there the lack of predictability will influence prices way up past 100, maybe 120 for months with occasional peaks at 150 plus and then its recession time.
OIL SHOCK?
Yes, Oil to $100 or above
"Oil prices could crash!" "who told you?" "A giant green chicken..."
A Russian green chicken
A little bird told me.
This guy works for @Kurtzgesagt
Keep pushing David. I love your willingness to listen and learn. ❤
........."Giant Green Chicken Lives Matter" !
Good to see David’s hair care product supply chain issues have been resolved.
It’s crazy how much he’s hair changes from one episode to the other
That's funny
😂😂😂
@@MrInfoPhilly added viagra gel
This comment made my day.
Maybe he fired the flock of seagulls hair stylist.
33:00 "we're trying to professionalize our organization" says the green chicken
It finally happened! The tarot card lady said that a green chicken would give me the keys to my financial freedom. LOL
Caution: never play poker with tarot cards. When I was little my friend and I found a deck of tarot cards, he got a full house and three people died.
LMAO
Oil is the energy that drives the economy. With out energy nothing gets done.
Thanks Zoolander , water is wet.
Feeds into everything
@@dman9416 liberals don't know this
Oil is not “energy” it is FUEL the energy is produced when this fuel is burnt .
@@SuperPhunThyme9 That's a fact. I've had too many conversations where the average person doesn't consider the role of energy
I was told by a car dealer EV's don't really work in subzero climates. Both the charge is affected and the blasting a heater consumes a lot of battery life.
Makes sense they're prominent in California
Cant use a ev to go on long trips, it would be a total.failure , fi ding a charging station in the middle of nowhere!! And paying 60% more makes no sense!!
The battery drains a bit each day as the car maintains the battery at an optimum temperature.
Be VERY careful when going on vacation ... you might come home to find your car has become a brick.
The heater is a surprisingly small load on the car. Heater for the inside of the car is maybe 1000W when it's on full blast, but the car is using 50x that amount in just regular city driving. Cold temps are what destroy battery life. There was a snap where temps dropped to -40C in Edmonton and lots of our gas cars couldn't start, and lead batteries in our cars are a lot more robust in cold temps than lithium batteries are. At least a gas car can be jump started; a battery car is straight up dead until it warms up.
David Lin, great show as always. Can I recommend that you have Eric Nuttall on to talk oil and energy and perhaps even better if you have him debate Doomberg on the political risk premium in the oil price currently?
The big green chicken with the electric voice is Ai… artificial insanity. Natural gas conversion is expensive and maintenance is complicated. Tartarini and Impco conversions need to be maintained. Parts are expensive. When you add it all up, you understand why a Union Gas truck was filling up with gasoline at the pump the other day, as the conversions were removed due to high cost of maintenance. If the big green chicken had any ballz, he’d show his face.
I bet it's Cathy wood 😂😂
That’s what I thought but there are solutions. The stuff is “ dirt” cheap. Like the bird said- don’t underestimate our ability to solve those technical apparatus issues. Unlike pure EV tech which has some unsolvable physical defects.
@@johnoliver4199 the bird is a quack when it comes to energy.
Doomberg and Lynn Alden squaring or differentiating their world views would be very interesting to me. I love Doombergs real world industry level pragmatism and I love Alden's macro/historical analysis of money and it's alternatives.
Oil going up is the max pain scenario.
every chicken comes home to roost.
U.S. is a major oil producer this is good for many companies in the U.S.
For the consumers, yes!
But not for the producers.
For the grabberment, more corporate taxes to spend.
So true - feeds into everything. 1970-80ies is the prime example
I do like doomberg but $40 a barrel without the war premium is wrong. With the increase in costs to extract it from the ground no companies make money, it’s more like $60-$70 minimum
I agree. There was no discussion of inflation on the energy market
@@palookakj6622 I feel the same. Especially with capex of oil companies going down & much more...
If we werent such cowards and we properly used our political leverage on OPEC, we wouldn't pay shlt for oil.....unfortunately the entire boomer generation is weak
Who do you get your Econ info from? A green cartoon chicken..
Love your chicken ❤
Kinda scary that if it's a person's face you instantly trust them more
The EPA is the biggest reason we don't have natural gas powered vehicles as the majority now.
Major reason no new petrochemical refinery has been built in 30 years
What's the efficiency vs. gasoline engines?
@SomeUserNameBlahBlah in Brazil Uber drivers have NatGas conversion kits. It's insanely cheaper.
@@allen_p Yeah, but all the existing refinery's have been expanded 3-5X in size. You need context, or be blind.
@@brandonnetzley1906 This existed in the late 90's in Canada
I am amazed that David can understand a big bird talking LOL
You do realize he is speaking English. It’s super easy to hear and understand him
Very smart comments for a huge green chicken
Trump will take the edge off oil price rises in short - medium term, but long term, energy demand even allowing for a 18 month recession will keep moving upwards and Doomy reveals woeful lack of appreciation of oil industry dynamics.
Another Eggcellent interview David. 😂
Let me explain a bit about natural gas. At 1.60mcf.Nobody is drilling for nat gas. Nobody. We are getting excessive nat gas now because we are putting 4 straw's(drilling) the same oil reserve where there used to be 1. This produces a flush production, but keep in mind the oil reserve field remains the same. We are not finding more oil..in fact, most oil is now termed "tight" oil. We are just wasting/ spending more money to get the oil out faster.
In fact..one might argue that more drill holes gets you more access to the oil... actually the reverse often happens. Many formations are very sensitive and that why even at these crazy low prices, you still dont shut in the well wait for better prices. Often it doesn't come back at all when shut in😮
Doomberg has gotten oil price direction 11 out of his last 9 predictions. Green chicken credibility is suspect. I don’t understand why green chicken is still around.
One of your best interviews to date! Thanks!
Great stuff, thanks again!
Excellent job David; you always have so many questions that are in alignment with what your listeners want to know.
And Doomberg, as always. skillfully brought us so darn much clarity.
If only politicians could be this honest and smart.
Great interview!
2:00 geo risk, natural gas glut 8:45 opec 16:25 glut of natural gas 19:20 gas vehicles to stay 26:00 trump win bearish for oil 28:30 peak oil myth 30:20 polical decision will not survive energy crises
Compressed natural gas powered vehicles have been around for quite some time now. The most prevalent in the US would probably be public transportation. Many city busses have run off of it for the better part of the past two decades.
Really appreciate how David challenges Doomberg on some points unlike the RO show (Rosanna P.) who just pats Doomberg on the head the whole time saying how brilliant he is.
Good show. I'm subscribed.
Awesome info as always :)
I never thought I could learn so much from a cartoon bird. 😂
You are the exception. Most do not take any green chickens seriously.
Possible war isn't the only reason why oil price must go up.
Yup...
Very interesting and informative info👍
This is such a good interview! Thank you.
I love the climate colonialism evidenced in that interviewers question and insistence that Ghana needs European permission to use its natural resources for itself
Good content . Thanks David
*Re: $50.00 - &200.00*
Retracement back to 50.00 (Brent/WTI) is simply -laudable- ridiculous.
Regards -
Appreciate the news
Oil @ $50 per barrel LOL
Don’t forget $700 Gold!🤣
Trump would be bearish for oil prices, for sure. Other inflationary pressures would stay intact as Trump is a deficit runner. Gold might back off, however, as the de-weaponization of the US dollar would commence.
Yea, the bird is coocoo I'm his thesis'.
Good stuff David.I had asked you a question awhile back about Harry Dent & you responded !! PS have been involved with commodities since 2020 & theirs lots of money to be made.
Up 50 cents a gallon since Monday in FL 9a
At 3:30 "the beginning of the realization that the war is not going so well"
The guy has been under a rock for a year?
Such a great interview!
CNG engines have been around for decades. They do produce NOx.
They only makes sense if the price of Nat gas is much lower than oil.
Roll on, Doomie, you are articulating a sane vision about the future at a very clear level. Thanks for your great work and thinking.
The cure for high prices is high prices.
Isn’t the price of oil going up part of the business cycle as well? At this point in the market oil and gold generally perform very well.
Filling cars with natural gas needs massively strong compressors to fill those tanks. I dont think homes can accommodate these compressors. The tanks are also quite large, and they get only half the range of EVs. I speak from experience. Natural gas cars is not new. My car 30 years ago was powered by natural gas. It also has about 15% less power.
World will rapidly transition to methanol fuel for motor transport . Methanol fuel will be produced in a carbon neutral process. Technology to produce methanol at scale has been recently developed using CO2 & copper.
I just subscribed to your channel because of this interview. Fantastic!
Oil goes to $200 would kill G & S miner profits...
Been loving the interviews! Good job!..
Excellent discussion. Thank you David and Doomy. It would be nice if Toyota could get the memo on the CNG engines.
Our green chicken friend doesn’t seem to have a clue concerning EV’s
Good analysis!
Smart guy who has lots of interesting ideas. Seems 100% certain about what will happen in the future, leaving no room for alternatives other than the ones he advocates for. Why put any stock in fortune tellers unwilling to show their faces?
Excellent, thank you
Thank you so much, David, for bringing to the forefront the thoughts of the prominent energy expert Doomberg.
historical data suggests sectors like energy and financials tend to perform well leading up to and following inflation peaks
Best guest you have had.
David, great job as always. I’m amazed how you keep the poker face during the interview. I couldn’t hide my bias.
canada was the leader in CNG research, development, and production but their gov't dithers. Canada was also ahead of US, Australia, indonesia in LNG but again, gov't dithers.
This was one of doomberg’s better interviews. I enjoyed it! I always enjoy doomberg and David
Great talk David!!
That’s no Chicken!!!
THATS A ROOSTER ‼️
Have him back again before the end of the year please 😊
Cheers 🥂from BC’s Fraser Valley
Who wore the hairstyle better. David or Doomberg?
That isn’t a serious question. Answer is obvious
The solar ad was priceless. And the Ghana one too
I came for the bird but stayed for the content. This was a great discussion.
Doomberg the green chicken makes it easier for me to concentrate, honestly.
Nice job
Great show David and the chicken.
I trust this green chicken more than any FED chair or mainstream economist
How could they NOT SEE things were going very, very badly in Ukraine before Dec? This is very, very strange!
LOVE Doomberg!
With shale oil becoming more gassy,opec is in the driver's seat and they said they need 90 to $95 oil for all. Their spending projects with the cost of inflation for at least at 85 to 95 oil. The chicken is wrong
Thanks for posting David.
Sounds like Doomberg was a follower of the late Randy Peterson.
Cheers SV Good Karma as Grins
Great audio.
I don,'t get this guy. $200 dollars a barrel oil dose not mean we have reached peak cheap oil? $140 a barrel brought the world economy to it's knees! And he has obviously never driven a natural gas engine vehical. They are a maintaince nightmare.
"Why did you buy that stock?"
"Well this green chicken on you tube said..."
He’s been spouting recently about how oil prices were going to crash. So what’s changed?
Green chicken power! 💯
The green chicken thing has become tiresome.
Well I’ll be damned….why did the chicken cross the road? Because he’s my financial advisor. Lol best show hands down!
Doomberg ❤❤❤❤
What stocks? CPQ LNG liberty energy
Go get ‘em Doomy!
There isn't enough copper for an electric fleet not to mention the infrastructure. NG just makes sense. Maybe when technology has caught up in 100 years, we'll see via electric options.
Can you please interview Eric Cartman next?
The chance for peace is zero
DJT also want to crush the EV wave.
The green fellow is very wrong about CNG. It has one of the major hurdles of deploying BEVs: weight. The increased weight reduces payload for many applications. Also if anything it will be LNG, not CNG that may gain some market share.
One thing about internal combustion cars is that poor people willing to work on them can keep them going. Myself and some of my friends have 80s cars and we can go to a junkyard and swap out engines and transmissions and have a set of wheels even if we're behind the 8-ball financially. If we can save a whole car and all these parts from the crusher I don't see how that isn't helping the environment. And incidentally I'm a Mercedes guy and Mercedes-Benz still makes parts for very old cars that are pretty much always a higher quality version of what left the factory.
Garfield next, please!!
I love the CNG idea. Long over due.
I am an American living in Thailand, they have been using CNG for cars and freight trucks for many years and it works well
But there usage in Thailand is in decline. Look at all the empty CNG refill stations.
He said its a sucker's bet to fade human ingenuity, and this is what led to the discovery of nuclear energy, but human inginuity is also what led to the development of the nuclear bomb...
Fudders are comparing BTC to beanie babies when electric cars are the true beanie babies. 😅
Now that's a comparison.
This level of smooth brain is dangerous to society
Curious about his thoughts on hydrogen
My favorite green chicken ever
15:40 - Doomberg says "we've added 2.5 Saudi Arabias since the onset of the shale revolution". I don't believe that's accurate, at least with respect to oil. Saudi production is slightly below 9 mm bpd. 2.5x that is 22.5 mm bpd. We're producing a little more than 13 right now, and perhaps 8 of that is due to shale, so he's overstating it by almost 3x. Plus, shale wells deplete faster and the oil is more expensive to produce.
World will rapidly transition to methanol fuel for motor transport . Methanol fuel will be produced in a carbon neutral process. Technology to produce methanol at scale has been recently developed using CO2 & copper.
And your sources are better than his, when he is in the business of doing nothing but research to find out the actual facts opposed to what the government puts out, you’ve got to be kidding me.
You must have a big set of cojones buddy!
@@ronaldcarrel5388 So you're saying the US government is understating oil production by a factor of 2? Something it is responsible by law for regulating and reporting? And you believe that because a cartoon bird said so? My position doesn't takes cojones, believe me.
@@karlkessler6017
Ridiculous
When he says 2.5x saudi, he used an expanded definition of oil which included NGLs.. They have tonnes of uses in the petro chemical value chain displacing traditional oil hence the need to expand the definition as refinery tech accommodates more hydrocarbons
Who knew Putin owned a green chicken ?
That chicken has some interesting points
Love the content but I think a new mic for you would be great.
"another fracking moment" 😆