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IPFS News Link • Oil

Oil Could Hit $300 And Uranium Could "Double Or Triple": Doomberg

• https://www.zerohedge.com BY QUOTH THE RAVEN

Doomberg publishes skeptical analyses through the hard money/Austrian lens and its objective is to be funny without being silly, to teach without being self-indulgent, and to provoke without being polarizing. They publish 10-12 pieces a month, which you can read for free here.

Q: Hi, Doomberg. Thanks for joining me. I love reading your blog. Can you briefly describe why you proposed oil could go to $300? Was it a joke or serious?

A: Our piece on oil was quite serious.

Policy makers in the U.S. are running an unprecedented experiment and actively working to reduce supply – although the administration may be changing its tune on that recently. At the same time, demand for fossil fuels is growing beyond pre-Covid levels.

If you study the capital expenditures of the oil majors in the recent past, you'll find they've cut back substantially. Major oil and gas projects take time to permit, build, and operate. Much of this hesitancy to invest flows from disappointing returns on equity from previous investments, but the move to defund the fossil fuel industry adds further pressure.


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