I was recently interviewed by veteran real estate investor Ken McElroy, where we discussed the puzzling state of oil markets, including sharp price swings, extreme backwardation signaling near-term shortages, and the mounting pressure on diesel supplies that could drive costs much higher. We also explored the drawdowns of the U.S. Strategic Petroleum Reserve, the challenges of developing Venezuela’s heavy oil resources, the risks of cost-push inflation and potential stagflation, and how AI disruption might complicate the Federal Reserve’s policy choices. Finally, we turned to practical steps individuals can take to protect purchasing power, from gold and silver to broader commodity exposure in copper, uranium, and energy assets.
Transcript below.
by randommike 
