Energy Crisis Dos and Don'ts With Doomberg

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 31 October 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

“This should be fun,” tweeted Doomberg amid reports President Joe Biden will propose a “windfall tax” on profits of oil and gas producers, as political leaders continue to pose against the global energy problem. Andreas Steno Larsen welcomes the congenitally acerbic and always insightful Green Chicken for today’s Daily Briefing to talk about realistic solutions to a situation that only seems to be growing worse by the day – with inflation yet to peak and still more resource-scarcity promised by Russia’s withdrawal from the Black Sea Grain Initiative. We also hear from White Tundra Investments CEO Shubham Garg, who shares his reasoning for exponential growth in global oil demand. Watch Shubham Garg’s complete presentation here: https://www.realvision.com/shows/3-ideas/videos/where-to-pick-in-canadas-energy-patch-LwzQ?tab=details. THIS IS THE FINAL DAY OF REAL VISION’S “CRASH CAMPAIGN” DISCOUNTS! Head over to www.realvision.com/crashpricing to subscribe. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Good afternoon everyone and welcome to the real vision daily briefing. I'm at the
0:11.5	Estena sending to you live Monday, October 31st, but before we get to the show, just a
0:17.9	friendly reminder that today is the last day of our crash sale. We've reduced the price
0:23.3	of a subscription to real vision essential to $99 per year and a subscription to the plus
0:28.7	year is just $400. Again, it ends today. So make sure to use that chance. But let's get to the
0:37.3	interview. We're going to ask the question today, what's next for energy? And I guess no one's
0:44.0	better at answering that question than the green chicken. So it's a pleasure to have Mr.
0:51.0	Dumburg with us. Good to see you. Andreas, great to be here. I really appreciate the
0:55.2	invitation and looking forward to a great discussion. Big fan of your work and really it was a
0:59.5	thrill when you reached out to have a son. So looking forward to it. Me too, but let's start with
1:06.7	a short-term forecast. I saw that you tweeted that your Biden will be on station around 30 minutes
1:12.6	with a message to the oil companies. What do you think he will say? So the reporting coming out
1:18.1	is that Biden will insinuate that if oil companies don't do more to bring down the price of gasoline
1:24.0	at the pump, he will work with Congress to try to get a windfall profits tax pass. Now we were joking
1:31.1	a little bit before we went on the air that we view this as a consequence of the fact that there
1:36.8	is a midterm election next Tuesday. And the odds of such a thing coming to reality are very low.
1:43.3	I think the market has mostly shrugged it off, such as the nature of politics the week ahead of
1:49.9	a decisive election in the United States. As I'm sure you know, watching the news from Europe,
1:55.0	US is a hyper polarized and very evenly divided country and a few votes in swing states can have
2:02.0	disproportionate impact on who wields power in the country. And as we get closer to the midterm
2:07.3	elections, we anticipate more and more headlines like these, most of which I think as traders can be
2:13.3	safely ignored. Now that we are talking about politics, one of the things that have been
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