The Permian shale oil basin is very close to peaking out. When it does, everything changes for the US and the world.
"Everyone thought 2019 was the all-time high for Energy and Oil demand and that coming back out of covid, yeah we would come back and normalize--but never at the rates we saw. 2022 set the new record. I mean you couldn't have been wronger faster." ~ Adam Rozencwajg.
Adam Rozencwajg, CFA, Managing Partner at Goehring & Rozencwajg (G&R), joined "Off the Cuff" Podcast with host Chris Martenson of Peak Prosperity to explore the most vital but overlooked topic of our times: Peak Oil Is Closer Than You Think.
With our models and analyses, G&R projects that the one final and last mega oil basin in the US – the Permian – is set to hit peak output in 2025. And if it does, it could set off alarm bells within the US and across the world, resulting in vastly higher oil prices. So, why do we think it is close to peak? What about the Marcellus – the monster US natural gas shale field?
We invite you to listen to this very informative interview.
Interview was released on February 7, 2024.
Registration with the SEC should not be construed as an endorsement or an indicator of investment skill, acumen or experience. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Historical performance is not indicative of any specific investment or future results. Investment process, strategies, philosophies, portfolio composition and allocations, security selection criteria and other parameters are current as of the date indicated and are subject to change without prior notice. This communication is distributed for informational purposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, products, or services. Nothing in this communication is intended to be or should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. This communication may include opinions and forward-looking statements. All statements other than statements of historical fact are opinions and/or forward-looking statements (including words such as “believe,” “estimate,” “anticipate,” “may,” “will,” “should,” and “expect”). Although we believe that the beliefs and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such beliefs and expectations will prove to be correct. Various factors could cause actual results or performance to differ materially from those discussed in such forward-looking statements. All expressions of opinion are subject to change. You are cautioned not to place undue reliance on these forward-looking statements. Any dated information is published as of its date only. Dated and forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any dated or forward-looking statements. Any references to outside data, opinions or content are listed for informational purposes only and have not been independently verified for accuracy by the Adviser. Third-party views, opinions or forecasts do not necessarily reflect those of the Adviser or its employees. Unless stated otherwise, any mention of specific securities or investments is for illustrative purposes only. Adviser’s clients may or may not hold the securities discussed in their portfolios. Adviser makes no representations that any of the securities discussed have been or will be profitable. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio.