BREAKDOWN: Oil 101... How Easy Money Enabled the Shale Revolution, Feat. Tracy Shuchart
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 23 June 2020
⏱️ 76 minutes
🧾️ Download transcript
Summary
An oil and commodities expert breaks down how the shale revolution reshaped global energy power and why oil went below $0 earlier this year.
This episode is sponsored by Bitstamp and Ciphertrace.
Today on the Brief:
- PayPal and Venmo reportedly adding crypto buying and selling
- Trump executive order temporarily suspends H1-B visa program
- Continued growth in bitcoin derivatives
Our main conversation:
Tracy Shuchart is an oil- and commodities-focused trader in the private equity space known for her wide-ranging insights on financial Twitter (FinTwit).
In this conversation, she and NLW discuss:
- Why the shale revolution of the last 10 years shifted the power balance in global energy among the United States, Russia and Saudi Arabia
- How easy money in the wake of the Great Financial Crisis enabled the shale revolution as much as new technology
- Why after the 2014-2016 oil crash it was inexperienced private equity firms that picked up where banks left off with shale
- How a growing focus on dividends and cutting costs was creating structural problems for shale even before the COVID-19 crisis
- How COVID-19 coincided with a contentious negotiation between Saudi Arabia and Russia that ultimately sent prices to less than $0
Find our guest online:
Twitter: @chigrl
On the web: chigrl.com
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond. |
| 0:13.0 | This episode is sponsored by BitStamp and Cipher Trace. The breakdown is produced and distributed by Coindesk. |
| 0:22.6 | And now, here's your host, NLW. |
| 0:27.9 | Welcome back to The Breakdown. |
| 0:30.0 | It is Tuesday, June 23rd, and today I am joined for a really interesting conversation about |
| 0:35.8 | basically everything you know to get started in understanding |
| 0:39.3 | oil and the energy markets and what's happened over the last few months, including the crazy |
| 0:44.3 | dip below zero. And I'm joined by FinTwit Superstar and trader Tracy Shookart, better known as |
| 0:51.1 | Shy Girl, her Twitter handle. But first, the brief. |
| 0:59.2 | First up on the brief, in news that broke just after I had finished recording yesterday's brief was PayPal and Venmo are apparently on their way to adding crypto. This is a report |
| 1:05.0 | from CoinDesk. It is not confirmed by PayPal themselves, but seems to have good sourcing. And basically what we're hearing |
| 1:12.5 | is that they will offer crypto buying and selling, supported by multiple exchanges for liquidity, |
| 1:17.8 | including CoinDisc and BitStamp. The why it matters on this one is pretty self-evident. |
| 1:23.0 | First, there is the massive user base of 325 million plus users. Second, it also represents a U-turn in |
| 1:30.7 | PayPal's relationship to this asset class. As Blockworks groups put it, financial institutions are |
| 1:36.2 | being forced into Bitcoin. PayPal is rolling out Bitcoin a direct competitor to itself to their |
| 1:41.3 | 325 million users. You saw folks like Charlie Shrem post screenshots |
| 1:46.2 | from 2011 when PayPal wouldn't let them or wouldn't interact with them in any way. Brad |
| 1:51.2 | Michelson from E. Toro wrote, Crypto is becoming a B2 feature in FinTech app, similar to how everyone |
| 1:56.9 | is launching debit cards, hard to ignore Cash App's revenue reports from crypto trading. |
| 2:01.8 | Scott Melker said, this is backed X10. If PayPal and Venmo are truly entering crypto, then this is |
| 2:07.0 | arguably the most bullish news that we have seen in this space ever. Maybe most interesting |
... |
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