As Saudi Arabia takes 1.5% of Saudi Aramco public, DOUBLE DOWN asks former energy market regulator, Chris Cook, whether or not this is the sign of peak oil. He says that, in fact, it is a sign of peak demand. There is an infinite amount of oil . . . at a price . . . but consumers cannot afford that price and alternatives are being found. Chris Cook expects that oil will never go much above $60 again for any length of time. Regarding the new QE which is not QE (‘Quantitative Easing’), he believes this is oil-related, the Fed is providing liquidity to monetize US shale reserves. Cook is saying that the US has essentially fixed the dollar against its shale reserves. Tune into Double Down to hear more on what Chris Cook has to say about his bold and radical predictions for energy markets in 2020.
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