Questions whether the world has fundamentally changed even with an immediate ceasefire.
Host
Jeff Currie
Global supply chains are disrupted across oil, gas, fertilizers, metals, and petrochemicals, with damage taking months to unwind.
Jeff Currie
No policy response can stop crude's ascent; 400 million barrel release is minuscule against 18 million barrel daily disruption.
Jeff Currie
Hoarding is the key risk, referencing 1970s when hoarding created 2M barrel/day demand increase.
Notes that 'hoarding' appears repeatedly in Currie's research and asks if others will follow China's example.
Host
Jeff Currie
Hoarding is already happening in Japan, Korea, and at consumer level with people keeping gas tanks fuller.