Check out more of Art's research at www.artberman.com Live original date: Oct 6th, 2022 Topics- OPEC+, Energy Prices, Global Economy, WW3
Пікірлер: 61
@tomquimby8669 Жыл бұрын
keep him honest Josh
@ttarantulas4u258 Жыл бұрын
Col. Prouty spent 9 of his 23-year military career in the Pentagon (1955-1964.) Fletcher Prouty Explains Invention and Use of Term "Fossil Fuels" back in the day. Organic matter.
@scottheller1379 Жыл бұрын
Kids purdy sharp George. He's a keeper.
@MeZzZzZzZzZzZzZzZzZ Жыл бұрын
Excellent points josh.
@Ddkrew1 Жыл бұрын
Why do we pay a federal gas tax of 20c a gallon for then?
@MrDeathray117 Жыл бұрын
How can Art sit there and say the cure for high prices isn't high prices?
@UltimateBargains Жыл бұрын
The US govt wants Americans to use less gasoline and diesel.
@David-wc7lx Жыл бұрын
Converting refineries will not be determined by fuel consumers. To say so is remarkably short sighted. When the tractors and combines are sitting idle, everyone will be starving and price nor consumer demand will hinder the conversions. Survival will be the driving force. The problem is, by then it will too late. If the refinery conversions can be done in a year, food production will take an additional year. 3 weeks without food and a person dies. Hope everyone has been thinking ahead.
@greeceundiscovered9670 Жыл бұрын
This guy Berman is bad news George, far from a rebel capitalist.
@msummers5625 Жыл бұрын
Sounds like he's advocating for a deflationary death spiral. I think the point was that its a national security issue if we run out of gas. If we get shutout of international oil production. I personally do not want to live through that scenario, he seems to share that concern.
@georgeokello8620 Жыл бұрын
Saying he is advocating for one is just a terrible accusation. Art is just simply saying that we just have major structural constraints which are going to impose major costs to our economy. That is almost as similar as saying an oncologist being able to diagnose stage 4 cancer problem is an advocate of the problem. That kind of thinking prevents ppl from trying to acknowledge visible real problems at the expense of been placated to and been told that everything is fine despite the reality.
@msummers5625 Жыл бұрын
@@georgeokello8620 Yes, by advocating I mean when comparing to a hyperinflationary currency as the other option. Art is pointing to a bleak possibility and standing the ground that there's no solution because we have slowing demand. Which makes it harder to find financing for gas projects. The outcome of this is deflation (hence my comment).
@georgeokello8620 Жыл бұрын
@@msummers5625 In a way energy is just a necessary input of all real world economic activity. If your access of cheap energy supply is severely compromised, the productivity losses increase just from lack of accessible energy inputs and demand drops just because machine and labor inputs themselves do not have energy inputs. Think of it as if their are not going to be future cheap energy stores that you will not have access to that you have to depend on(inelastic demand), it's just natural for people(and even animals) to revert to risk aversion and extreme conservation because survival is the maxim rather than risk on profit. It's a physics problem that mainstream economics and politicians for some strange reason are unable to grasp.
@eurobrowarriormonk7182 Жыл бұрын
If all these youtube grifters(including such so called experts as berman) would spend as much time researching as they did making grifting videos then they might provide some useful informaion. A barrel of oil on average will make about 9 gallons of diesel and 20 gallons of gas. There can be a small deviation from certain types of heavier crude but not enough to account for the diesel problem we have. The IMO 2020 regulations concerning ocean shipping went into effect causing an additional 2 million barrel a day demand for diesel and not one of these asshats will bring that to anyones attention. everyone should read art bermans 2012 book cold hungry and in the dark(or something like that) where the whole book is how we would soon run out of nat gas before giving him any kind of credit. these people are grifters. Theyt make their living from running their pieholes and do not produce anything of value
@domsawyer8953 Жыл бұрын
I agree that there is a lot of grifting going on in this space. I have my doubts about Gammon, as well.
@georgeokello8620 Жыл бұрын
You are forgetting that through some periods of GFC(2016 and 2020) we had periods of low financial flows into the oil markets that made production of diesel more costly and storage was highly favored thus rendering EROI in diesel and gasoline alternatives to capture 10+ year of future production unprofitable. That does not even account that the introduction of non discretionary financial products for passive funds in energy green financial products have been proliferated by larger investors not to mention successful lobbying efforts have decreased production and exploration efforts of long term energy reserves not only in the USA but even on developed countries and to some extent the emerging market economies(largely China). The diesel problem is largely a distribution problem. The current new trade regulations now discriminate barrels of oil that come from Russia as a trading partner. So new distribution centers have to be formed to circumvent the unnecessary regulatory costs that are barely enforceable thus complicating the delivery times of exports and massively influencing the prices of oil.
@eurobrowarriormonk7182 Жыл бұрын
@@georgeokello8620 Yeah i am sure you ar a right and it is has nothing to do with the extra 2 million barrels a day demand for diesel caused by the IMO 2020 regulations. which amazingly would exactly explain the huge price spread between gas and diesel that has been around since they passed. I dont know who you are but take your silliness somewhere else or maybe you would like to address the IMO 2020 regulations?
@TheHeavyModd Жыл бұрын
@@eurobrowarriormonk7182 he clearly didn't say the 2020 regulations have no bearing on demand. He said there are other factors to consider as well
@ttmallard Жыл бұрын
Note, the USDOD bred 50% oil algae to replace diesel Pre-WW2, by replacing floccing chemicals 2nd step sewage treatment plants gains 30% of volume biodiesel/biocrude [refinery grades specific to types] implies no need to drill for transportation fuels globally. To supply known oil reserves using 47yrs, only 742 10M-gal/day plants supply it by then. Seeing diesel is 1/5th of a bbl, 42gal/bbl, 9÷42=0.21, this means needing 5× less oil in crude to supply 3M-gal/day can be all diesel per plant, gas is a byproduct, who needs it if biodiesel is plentiful, biocrude fulfills petrochemical needs + gas by default. In a no subsidy world nobody would drill ... ⛽️🦕🦤
@bp5662 Жыл бұрын
I drive a diesel truck cross country and clicked this clip expecting a clear explanation as to why diesel prices are still elevated. The first part about what kind of oil the US has and what our infrastructure is set up to refine confused me. He seemed to flip from saying we are only capable of producing gasoline to claiming we could switch the infrastructure to produce gasoline but that the incentive isn't there. Can someone coherently explain to me why diesel prices aren't coming down with gasoline prices?
@danieldanielson2650 Жыл бұрын
Just guessing... Probably the infrastructure is optimised for gasoline as your oil - wti - contains only small amounts which can be refined into diesel which also demands a costly optimisation process.
@rigorocks23 Жыл бұрын
i would say its probably because russian crude oil is what was being used for diesel and amerucan sanctions severely cut those ties and is now more expensive because of a supply shortage
@TheHeavyModd Жыл бұрын
You need heavy oil. That's also why Biden is going to Venezuela and Saudi-Arabia begging for their production.
@uckBayNguyen Жыл бұрын
Is it fair to speculate the west have reached peak abundance and consumerism leading to less demand for manufactured goods? The argument that developing countries will pick up the slack would suggest housing hundreds of millions people first. People will need a place to store their property before they go out and consume
@tobybrown1179 Жыл бұрын
Banks and super funds have stopped lending on oil and gas exploration in Australia… we are fked if u ask me
@jeffersonblackmon Жыл бұрын
Light Sweet Crude Oil. Building an oil refinery has layer and layer of governmental environmental regulations.
@Ryan-xq3kl Жыл бұрын
not nearly as much regulation as a nuclear power-plant, solar farm, natural gas pipeline, hydro-power generator, wind turbines, etc. Oil refinery is the most efficient, cheapest, and most readily available energy source. There is also no evidence that it impacts the environment in a negative way.
@pauldichtel64107 ай бұрын
Was that Doomberg? Are natural gas liquids are the same as oil?
@marvz71 Жыл бұрын
Fractional petroleum distillation produces all manner of products along its path of production.
@jessicahallqvist7765 Жыл бұрын
We have a filipino inventor name Mr Dingell invented water only ,and the car can run in long distance..he only change some of the part in the machinee serve as catalyst...why we don't use the natural I we suffer from huge price of gas...
@1439315 Жыл бұрын
Options; At higher price we choose to do LESS business that means our fuel cost goes up without a change to our retail price to match. AND other factors are NOT equal. Meaning tax is high, red tape is high, confidence is low, prices may change faster than our ability to adapt to them fast enough. And consumers are playing the 'wait and see' game LONG TERM. Did you hear about the grocery shopper changing out the steak upc code for the banana upc code and of course going to SELF CHECK OUT? Paying 45 cents a pound for steak. Now that is quite a bit of inflation that people are doing more stealing at the grocery store.
@tobybrown1179 Жыл бұрын
Why is no one talking about Venezuela oil reserves, biggest on this globe…
@TheHeavyModd Жыл бұрын
Sure let's talk about it. They have heavy oil, Biden is going over there constantly asking for more production now especially since the Saudis spit in his face with the OPEC+ cuts
@grbeck-uk5433 Жыл бұрын
The US dollar is only strong because it is the prettiest horse at the glue factory… 🐴👀
@tierpin Жыл бұрын
Please tell Art to get a professional mic, sounds very garbled.
@Ddkrew1 Жыл бұрын
Explain how its economically viable to sell and ship reserves overseas instead of refining our own? We could Easily be independent… there is no paradox besides greed and a motivation to be dependent on foreign sources only able to be invested in by the elite banks.
@AJEddy99 Жыл бұрын
We would be far better off as a society if everyone were greedy. Instead, we are a society of consumer slaves driven into the arms of our overlords by fear.
@georgeokello8620 Жыл бұрын
Not all grades of gasoline are the same. Saudi Arabia has the highest concentration of heavy crude and the machines we use in the United States(like engines, commercial heating systems) we're engineered to function on consumption of those heavier grades. If you wanted to change all of this without negatively killing of economic demand, you would not also need to commit decades of energy infrastructural restrictions restructuring of services like transportation but also large scale manufacturing for newer machines that homes and business will rely on American grades. That is a multi billion dollar investment that only a government can afford to take a debt for that investment and getting EROI for all different sectors using that understructure is speculative at best.
@richardcarson8385 Жыл бұрын
Ever heard of hybrid solutions or free market capitalism? We have zero true statesmen who want to get into government for fear of getting shot like the Kennedy’s. Anyone espousing actual solutions would be far too simple way to spend your time. We only get mouthpieces talking about the problems rather than talking about cooperative solutions.
@georgeokello8620 Жыл бұрын
Solutions that you are asking for require actual engineering and scientific revolution which do not magically spawn out of nowhere especially when we already have scientists whom have been putting decades of research and have not been able to get a scalable solution. This is even true especially when the globe has less than 10 years to produce a scalable energy solution replacement that takes 20-50 years just on engineering infrastructure alone to complete that kind of project and this 50 years is optimistic if we factor political will to spend on infrastructure and job market for those new workers all goes well asynchronously. Engineers, doctors, scientists and technologists talk about problems and constraints rather than just solutions. There are only trade offs and it's a matter of choosing the least worst thing from the rest of the worst options.
@domsawyer8953 Жыл бұрын
Who, exactly, is Art Berman?
@eurobrowarriormonk7182 Жыл бұрын
look at my other comment. should be near the top
@domsawyer8953 Жыл бұрын
@@eurobrowarriormonk7182 Thanks, brother. Got it.
@greeceundiscovered9670 Жыл бұрын
He’s looking to make a buck off of George, far from a rebel capitalist.
@evegreenification Жыл бұрын
I like Vin better than No.
@johnnylogan5927 Жыл бұрын
Americans have spoken and theyve voted for this circus. Hope they enjoy it!
@rideshareafterdark5827 Жыл бұрын
Even the ones who didn't vote for it get to go along for the ride. yay
@brianbusch2840 Жыл бұрын
Actually this is planned out. There are only two parties running the show and they are the left and right wing of the same bird representing tyranny. They control you through the US Government Corporation and you will obey. The Oligarchs that run the world like your way of thinking tho.