Art Berman interviewed by Adam Taggart on Peak Prosperity
Like it or not, our modern way of life remains extremely dependent on oil. And even using the rosiest of forecasts, that’s not going to change anytime soon.
Which is why petroleum geologist Art Berman’s prediction of a 30% spike in oil prices later this year is so worrisome.
If it indeed occurs, it will be another painful gut-shot to a global economy still struggling to recover from the damage inflicted by the pandemic.
When the price of oil rises, the price of everything goes up. And there are many vulnerable businesses that simply won’t be able to withstand this double-digit increase to their cost structure in today’s environment.
The ripple effects will be severe and widespread.