In this week’s Off The Cuff podcast, Chris and Art Berman discuss:
- US oil consumption is down ~15%, a good proxy of GDP shrinkage
- Why US oil production will be dramatically lower by next June
- Why the US may never produce as much oil as it did between 2016-2019
- Why oil, not interest rates, will be the limiter of economic growth going forward
For many years on this website we’ve warned of the coming crisis of “Peak Cheap Oil”. We may now be entering a new, accelerating stage of that story.
Petroleum geologist Art Berman returns to the program to explain why he predicts US oil production will be materially lower by next June, and why it will likely never return to its 2016-2019 highs.
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