Oil’s demand-supply fundamentals look “terrifying” says Josh Young, CIO of Bison Interests, who is predicting the oil price to breach new all-time highs as the market becomes severely undersupplied.
*This video was recorded on April 20, 2023
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0:00 – Intro
0:46 – Bison Interests
2:00 – Oil fundamentals
5:00 – OPEC+ cuts
7:40 – U.S. Strategic Petroleum Reserves
10:00 – 1979 energy crisis
12:30 – $100 oil price?
18:20 – 2008 financial crisis and oil
22:34 – Oil price and S&P 500
26:10 – When can oil price see new highs?
27:40 – Shifting energy priorities
31:10 – High oil price and inflation
#oil #energy #investing
37 Comments
Do you agree that oil is about to spike soon in the face of a recession? Comment below and don't forget to subscribe!
FOLLOW JOSH YOUNG
Bison Interests: https://bisoninterests.com/
Twitter (@Josh_Young_1): https://twitter.com/Josh_Young_1
Dino Juice in its First Pullback of a 10 Year Bull
Great guest Mr Lin, I'm going through my mental rolodex of all your interviews at kitco. When or is there an investor whose strategy is solely based on either incompetence or flat out purposeful destruction, I mean let's start to approach this with a little more realty, look at all these policies that all your wise guests cite, uh good people it can't get better, look around seriously look around. Anyway I can't be the only investor who sees a need for a purposeful strategy based on a holes taking our whole way of life down
My 18 year old sedan still running just fine, but if EV's very significantly drop in prices (hard to say, given high demand, yet extreme competition), I shall consider an EV.
Oil will live forever. Diesel/bunker fuel/jet fuel is the lifeblood of the supply chain. Green energy will never take the place of oil in my lifetime or my nieces lifetime. Been around since late 1880's will be around for hundreds of years. Asphalt, carbon chains, gas, diesel, bunker, plastic, every fossil fuel known to man. They depend on this product every single day. In America every american uses 56 barrels of oil daily even if they do not have a car. That is 19.6M barrels per day in the USA alone which is the largest consumer per day. Majority is used in industry. Did I say it is never going away.
I'm not watching this stupid stuff. These kids are to stupid or young maybe both. Oil will be here for the rest of their life and maybe their kids. We will not be going back to Whale Oil ever again. Chile last night Nationalize all mines dealing with Lithium Mining .. So much for batteries for cars for a while. Keep pumping oil …………..
Don't worry about oil inventories, we've got our Strategic Petroleum Reserve to help us. Oh wait, no we don't because Joe Biden sold that off to his son's Chinese Oil trading company 😅😅😅😅
The Chinese have 1.5 billion barrels of oil in their strategic reserves.
I always like listening to Josh but what really moved the oil price in 1978 was the Iranian Revolution. Stuff like this is not predictable and not something to draw parallels from.
Some people moved to the suburbs after Covid since they didn’t want to be in close urban settings. Problem is now the suburbs are filled with traffic and packed with cars. Gas prices are gonna go insanely high.
17:44 "Chinese economy is weak"
China’s economy just grew 4.5% in the first quarter, the fastest pace in a year.
Big fan of Josh Young. Lots of intellectual humility coming from an expert.
Wouldn't higher oil prices cause more people to purchase EVs? Global warming may continue at this rate with weather changes to affect the environment. Thus far, many poor people cannot afford electric vehicles.
Economy moves, then it need oil to fuel it. US oil is short as the reserve is already used up. Opec and Russia alliance sets world oil price, can't tell saudi how much to sell no more. Saudi now arms itself, no need expensive US protection.
Many good learning points from this interview
Very educational, will need to watch it again.
I think we can count on opec for 100 maybe 100+ for some time.The majors have nice dividends as do the pipelines
100 is where it will stay .SA likes it there and can control it
David always finding the highest chair . its like a game of highest chair.
Great interview. Thanks David
Recession is bad for oil. The short squeeze was last year when oil hit $140 a barrel. Its 2008 all over again: high inflationary environment precedes a high deflationary environment. IMO the 2008 crash could not have happened without oil hitting $150 and oil hitting $140 last year is going to have the exact same effect
Russia already cut 1 million of barrels and thats all they can cut. Rest is in permafrost areas so stopping those pumps means it's gets destroyed. So Russia won't cut anymore they rather sell oil at a loss then stopping them
Keep on dreaming 🛌 oil price will collapse!
America hasn’t any oil stored. There selling Australian oil that filled the caverns years ago and the same goes for Fort Knox , it’s empty as well.
When David left kitco I was sad at first :/
Now that I know I can still watch the top content I’m happy that I don’t have to watch kitco anymore. Not trying to hate just speaking my mind.
Great interview. Can you please have Brent Johnson on?
This is all rubbish, oil will not go up
Electrification of aeroplanes is coming. The latest battery technology is a game changer for mankind.
Oh this dude doesn't know what he is talking about, we will be in high inflation or hyperinflation. Duhh
Biden administration and Democrats push energy reduction as this occurs.
Saudi Arabia needs to move oil prices up to two hundred dollars a barrel for two years to finish off the west .
The Admin is trapped in all fairness. If they were to buy barrels for SPR it'd cause a price spike to oil.
It was actually 1974. Even numbers vs odd numbers on your license plate determined what day of the week you could buy fuel. When the gas stations ran out they would hang a 🚩 red flag letting you know.
The common core from then to now is politics.
Everytime I hear Josh the movie "there will be blood" comes to my mind.
Max Hopium
Let’s see how much we need from each other
And, how much we can get from each other
In conclusion, One of us will be Richer.
Mentally, Politically, Spirituality, and Financially.
Written by E.S
⭐️⭐️⭐️
FURTENBURG, INC.
Supports you .. .. Let's go.
The shutdown of Nukes in Germany is just driven by green-socialistic ideology. Instead the burn more coal. The idea is to replace nukes coal and gas by renewables. But if the sun is not shining and there is no wind too, what is often the case, lights will go out. It‘s a shame to have such people running the country
josh is a broken record…you should ask him what his returns were from 2015-2020 LOL. hes been saying oil over 100 the whole way down to 65. guy is a blow hard and a constant pumper. Javier Blas @JavierBlas or Anas Alhajji @anasalhajji are much better / unbiased