OPEC’s Counterattack…

The Federal Reserve has been attacking inflation. The problem is that after printing trillions of dollars, they’re ill-equipped to succeed at their task. Partly, this is because all that cash has to go somewhere and partly this is because their mandate does not extend into ensuring that global energy production expands. While Owners’ Equivalent Rent […]

When The Levee Breaks…

If it keeps on rainin’, levee’s goin’ to breakIf it keeps on rainin’, levee’s goin’ to breakWhen the levee breaks, I’ll have no place to stay. Mean old levee taught me to weep and moan, LordMean old levee taught me to weep and moanIt’s got what it takes to make a mountain man leave his […]

ESG = Energy Stops Growing

For most of my career, oil demand has grown each year and supply has roughly kept up. Sure, it’s overshot in both directions. We’ve seen shortages and we’ve seen gluts. We’ve even seen oil go negative. Throughout this time, we’ve always intuitively known that the cure for high prices is high prices. Last week may […]