China moves to pop global energy bubble

Thursday, 20 January 2022

As I have said throughtout the last six months of global energy chaos, there is no underlying shortage of anything. What there is is two many dollars chasing crazed narratives that blow prices sky-high in a period of days before collapsing again.

To decribe this as a crazy outcome in the most capex demanding and longest duration investment segment, not to mention the lynhcpin of civlisation itself, doesn’t quite say it.

Oil is an ongoing lunacy. The latst IEA oil report is soothing:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.