We can’t have an economic podcast without discussing the Eastern European conflict, which has hastened the spike in oil prices. It’s been on a tear lately, and oil stocks have seen some nice gains. But at the risk of striking any nerves, I’ve got something to say: “The oil trade is for suckers.”
I’m not a guy to time the market, which is exactly what I see behind a lot of oil stocks. As more people turn to ride-hailing technology and renewable energy, oil is facing incredible demand destruction.
Listen to learn why I think this will end horribly for the archaic fossil fuel industry.