Art Berman: Art Berman: Coming Oil Shock ‘Worst Thing’ in Modern History, Shortages Inevitable
Stijn Schmitz welcomes Art Berman to the show. Art Berman is The Energy Realist. Berman paints a dire picture of the global energy situation, describing the Strait of Hormuz disruption as an unprecedented crisis with no historical precedent. He likens the world economy to a human losing 20% of its blood supply daily, explaining that while the West hasn't felt immediate effects due to drawing on oil inventories, these savings will soon run out, and the lag will hit hard. Discussing supply numbers, Berman clarifies that roughly 15 to 20 million barrels per day of crude and refined products…
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