Revolution at 45%, and dropping
I concur with Setty: this talk by experts Daniel Kerner of Eurasia Group, Chevron’s Ali Moshiri, and our friend Francisco Monaldi of Harvard is well worth your time. It talks about the politics and the geology of oil in Argentina and Venezuela.
The key part is Francisco’s estimate that the revolution needs the price of a barrel of oil at $200 to make ends meet. In other words, with Venezuelan oil trading at $90, we are at 45% of where we should be – and the trend is not good. Something’s gotta give, right? Sorry, but that something is your wallet.
Here’s the video:
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