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Energy Short and Long Term – Global Macro Update

This week I spoke with Sam Rines, Managing Director of Corbu Research and author of After Normal: Making Sense of the Global Economy.

We discussed the oil and energy markets and the US economy, inflation, the Fed, and geopolitical tensions…

In this edition, you’ll hear Sam Rines and me discuss:

- Why the long-term outlook for oil and natural gas is very bullish…
- How Qatari LNG could offset a significant amount of Russian energy dependence…
- Why Russia halting natural gas exports to Europe likely won’t have the catastrophic effects the media fears……
- What Fed actions could mean for emerging market economies…
- Why we could feel the ripple effects of COVID for the next 5-10 years…

Samuel Rines’ new book, After Normal: Making Sense of the Global Economy, is available for purchase here:


Video Time Stamps

00:00 - Introduction
01:17 - Why energy is the big topic of the day
01:39 - Why general sentiment is long energy
02:19 - Why energy prices are declining now
02:44 - How to get energy to the right place at the right time
03:24 - The Nord Stream pipeline
03:39 - European dependence on Russian gas
04:03 - Alternate sources of natural gas
04:50 - Why Europe’s crisis might not be as dire as some think
05:14 - European industry is beginning to understand what needs to be done
05:49 - What will happen to European industry
06:11 - Why global energy disturbances won’t have a devastating impact
07:00 - How interruptions to energy markets are already “priced in”
07:31 - How OPEC and the Middle East factor in
07:53 - The importance of Qatari LNG
08:43 - Why current energy prices don’t matter
09:26 - OPEC’s shot across the bow
09:41 - Short-term bearish, long-term bullish for energy
10:31 - The ideal time to create an energy-centric portfolio
11:33 - Interpreting new US economic data
12:03 - Negative GDP growth and surging employment
12:45 - The current recessionary dynamics
13:17 - The long-term effects of COVID
14:07 - The return to normal
14:30 - Inflation returning to normal
15:24 - The price of oil
16:02 - The Fed’s next steps
16:28 - The surprising effect on emerging markets
17:13 - The geopolitical story the media is missing
18:02 - The corner China is backed into
19:04 - India’s role as power broker

Want a transcript of this video? Click here to read it now:
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John Mauldin
Each week, investors and financial professionals around the globe turn to John Mauldin to better understand Wall Street, global markets, and the drivers of the world economy. And for good reason. John is a noted financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher of one of the first publications to provide investors with free, unbiased information and guidance—Thoughts from the Frontline—one of the most widely read investment newsletters in the world.
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