Don’t Ignore Economic Warning Signs (Energy Intelligence, July 5, 2023)

"A wide chasm exists in the forecasting arena. Those focused on oil operate in an optimistic haze and foresee growth. Those concerned about the economy have the opposite view. The oil optimists are in for a huge, painful surprise if the economic pessimists are correct. The world economy matters more than oil, and the major central banks intend to tame it. Oil markets will be a major casualty of their actions. “It’s the economy, stupid,” was a phrase James Carville coined in 1992 when he was advising Bill Clinton during the latter’s successful run for the White House. Many bullish oil forecasters have ignored this message."


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