SHORTS | Oil, Inflation, and Geopolitics

Oil prices are $68/barrel and the Fed is pouring cold water on the stock market as inflation remains sticky, actually ticking up in the read this week, with housing and services still near 5 percent. Perhaps the Fed cut too much too soon…
Jamie Dimon made some excellent comments yesterday on Bloomberg about the state of geopolitics and how this is probably the most complex geopolitical and geo economic situation the U.S. and the world have seen since WWII. He’s absolutely right.
I’ve been Washington, D.C. for some meetings this week after starting the week out with Chris Wright in Denver on Monday on a panel talking about the impacts to energy from a Trump election victory. Fmr. Rep. Jason Isaac with the American Energy Institute chaired the panel discussion with me and Chris at the Liberty Energy office. We had a blast and covered everything from high electricity prices in the U.S. to Chinese coal and tariffs.
I got into Oklahoma City and had some fun on a government webinar explaining the role of a Strategic Petroleum Reserve or SPR and why we need to fill ours back up, not use it as a political piggy bank to lower oil prices, and why we need to think strategically and dynamically about China’s crude oil usage and stocks as well as their electricity consumption and power generation.
Secretary Of Energy Granholm called out the incoming Trump Administration and said that repealing the green measures taken by her and the Biden Administration would be “‘political malpractice.’” That is rich considering electricity prices surged from 13 cents a KwH to 18 cents a KwH under her leadership with current electricity inflation still at 4.5 percent. The consumer and the average American family and taxpayer have taken the brunt of these excessive and expensive green policies.
On Wednesday this week I jammed a “post election rip on US shale and geopolitics” into a 25 minute talk to a fantastic audience in Oklahoma City at the The Petroleum Alliance of Oklahoma annual meeting. This is everything you need to know folks. And it will be episode 120 of the PetroNerds podcast which will drop on Monday November 18.”, 2024.
I can’t wait to get back to Oklahoma, but I’ll be heading to Midland next week to speak with Society of Petroleum Engineers Permian Basin - SPE PB on Tuesday November 19th, 2024 at the Petroleum Club. Register here folks! lnkd.in/g9jpVNQX
And catch up with @PetroNerds and the latest @PetroNerds podcasts!
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