Oil Price Forecast - August 29

[dan_s]

Listen to the first 20 minutes of this podcast: http://l2capital.com.br/en/podcast/16-adam-rozencwajg/

Why oil prices need to go higher:
1. Overall demand for energy is going to surge as more humans move into a per capital GDP range where more energy is needed. Plus, oil will remain the primary source of energy in the developing countries.
2. EV's are not a near-term threat to oil demand because they are still (a) too expensive and (b) are not energy efficient.
3. The "cheap oil" has been harvested and oil supply will decline without higher oil prices.

In the back end of the interview Adam also talks about copper; an area that I'm interested in.