Oil

“War keeps the price of oil volatile. Volatile oil prices feed the risk of higher inflation, and inflation risk pushes the rate of the bonds higher. Higher bond rates equal higher mortgage rates. So that's how the war ties directly to your interest rates.”

“In order to produce a lot more Permian gas than even these seven plus BCF pipelines being built, we're already modeling, you'd need much, much higher oil for longer.”

“In the 21st century, it really is like the material is computation. It's kind of like if in the past there was oil, you know, or steel or whatever it is, today it's computation. And so the more we can give that to more people, the more interesting things happe…”

“One of those pellets is equivalent to over a hundred barrels of oil or over a ton of coal.”

“People will ask me about, like, macro, what's important, and I think when people think about macro, they think about all the typical stuff that the government reports, growth, unemployment, inflation, rates, currencies, where's gold, where's crypto, and I thin…”

“Look, we're the largest energy exporter in the world, the largest producer of oil, and the largest producer of natural gas.”

“And by the way, guess what? You need a lot of oil to even get that whole supply chain started because you need the mine.”

“China imports 74% of its oil supply and 42% of its gas supply.”

“The IEA estimate for the beginning of the year is about five million barrels per day of supply in excess of demand. That is a lot. That's, Also about five percent oversupply based on based on the current demand of around a hundred and a little bit million barr…”

“So the year after the second oil shock coming from the Iranian revolution, just under nine percent of per capita GDP expenditures globally were going to oil.”

“We've never spent more of GDP on electricity than oil historically.”

“I won't say the worst performing, but I think a very poor performing asset will be hydrocarbons. I just think that the trend in oil, Is inexorable and it's down. And the reason it's down is irrespective of your thoughts on climate change, the trends on electri…”

“Eventually in the 10 or 15 or 20 year timeframe, you'll have an abundance of electrons from nuclear. In the meantime, you have an abundance of electrons from net gas. You have an abundance of electrons, frankly, from solar. And all of these things will ultimat…”

“If you look back to 1800, even biomass today is used more than it was in the 1800. Oil is used more. Gas, coal, everything is used more. And solar and wind were simply additive.”

“Now the Middle East is the closest it's ever been To fully monetizing the oil that they have, and to invest aggressively into their own people.”

“There are no alternatives really to the dollar. The dollar market is the biggest in the world. The euro, the pound sterling, the yen, these are there, but because the size of the economy, the size of the capital markets does not match that of the US dollar. An…”

“Nuclear is super clean. The new nuclear technology is extremely safe. I mean, the, and even the old technology is very safe compared to oil which is really kind of the alternative or coal”

“They're not happy about it, but if this election were won by them, I can tell you right now, you would be, we would see oil go through the roof because they would really close it up.”

“Even on a net zero pathway, critical minerals demand does not top thirty million metric tons in 2040, according to the IEA, and by comparison to thirty million metric tons, oil production last year was 4.4 billion. Metric tons. Coal was seven and a half billio…”

“So critical minerals are an input to a manufactured good that can produce energy or store energy. It is not energy. We don't burn critical minerals for energy, and so if we had a disruption in some types of critical minerals, you might see delays and much high…”

“It's a quarter of all the coal, oil, and natural gas that we burn in the world is for industrial heat.”

“And dramatic example of narrative defeating data, because it's very, very obvious from the data that nuclear is far safer than say oil or coal.”

“The majority of power in Hawaii is still from burning oil, actually, because that's what you can ship in.”

“If I were to compare that with oil, so the ratio between oil and natural gas is about 1000. So between hydrogen and oil, we are talking about a factor which is largely over 3000. So if you want to transport the same energy as in one cubic meter of oil, well, y…”

“Because for Putin, oil is about money, and natural gas is about geopolitics.”

“Our process today, we can start a, we call it a production run, and in six days we can extract oil.”

“I said, we're going to need oil for at least another decade, and that's going to exceed... And beyond that, we're gonna need it.”

“India, you know, oil continues to be the, you know, sort of their Achilles heel as far as their current account, and we're seeing the reserves come out, and it still is a market with a ton of corruption, and so it's from an ease of doing business for foreign m…”

“Well, it is a very big disruption in the energy markets, and in a sense, it's global, or maybe you can even say all-encompassing, because it involves not only oil as previous crises, but natural gas and coal.”

“And that's, you know, in, in, in the new map, the way I phrased it, is you go from big oil to big shovels, because you're going to need so much more mining, and the volume of mining, I think, is just not really recognized.”

“But I worry that we're going to replace oil resource wars, or what we're seeing today, natural gas resource wars, with water resource wars. There have been water wars in the past. I'm worried that we'll have more water wars. That, that's something I really am …”

“Yeah, it's going to be like Bigger than gold and oil. That's correct.”

“You could have a 180 dollar barrel oil by November, December when it's cold, not just here, but in continental Europe. Now all of a sudden inflation gets kicks right back up again.”

“Last week, European natural gas prices spiked to basically the equivalent of about 600 dollars per barrel, if it were converted to oil.”

“We've never had oil over a 120 bucks and not gone into a recession.”

“I think it's fair to say that Saudi Arabia has more influence in global geopolitics because they are the only country, even though shale can be ramped up and down more quickly than traditional oil. They're the only country that intentionally, at a cost to them…”

“Hydrogen is much harder and much more costly to move around the world than putting oil on a tanker is.”

“The Hawaiian Islands collectively get 60% of electricity from burning imported oil or diesel.”

“Despite strong technology leaps in batteries, electric cars, and automobile efficiency, we are still as dependent on oil as ever.”

“You know, renewables substitute coal and gas in the electricity sector, but basically as a direct primary energy source, renewables right now have nothing to do with oil.”

“Oil as a percentage of the S&P had come down from 25% in 1982 and 16% in oh eight to two and a half percent yesterday. This is the biggest loss of value in the history of the major groups of the S&P that goes all the way back into the 20.”

“The cost of wind and the cost of solar is going to make pulling the oil out of the ground economically and feasible within three or four years.”

“Boys, all markets are now up. Everything is green. Dow futures, S&P, 500 futures, NASDAQ futures. Oil is up. Gold is down.”

“Some of these guys like oxy petroleum needs oil to be at 80 dollars a barrel for them to make their debt payments.”

“This is uncorrelated with Oil, gold, emerging market currencies, the equity markets, bonds, it's really just uncorrelated with everything else, and it's because it's a totally new phenomena.”

“For example, the hardest commodity to predict is oil... And I will tell you that no, there is no consistent leader of those three groups, and I believe the reason for that is that oil is traded by the sovereign nations. So, so the sovereign nations that contro…”

“The Canadian dollar versus the US dollar is is the best foreign exchange expression of the price of oil, of because we're such an oil rich nation or rich nation. Right. And that's the way currency traders express their view, right? So if currency traders belie…”

“So I would argue lots of assets that you think are very, very valuable, such as oil, will eventually be stranded. Might take 10 years, might take 1520 years, but when it's stranded, it doesn't mean it's worthless, it means it's Worth a lot less than it is toda…”