Oil: Myths & Reality Part 2

On the Financial Sense Newshour this week, Jim Puplava welcomes back peak oil expert Dr. Robert L. Hirsch. They discuss the current state of the oil markets and what is the outlook ahead from a supply perspective. Dr. Hirsch is skeptical that government involvement in the energy markets will be able to provide sufficient energy in the future, and there is no Plan B.

Jim Puplava is pleased to welcome back Nicole Foss, co-editor of the The Automatic Earth to the Financial Sense Newshour this week. Nicole discusses how the price of oil is driven higher by speculation, and how higher prices this year will lead to less consumption, and eventually lower prices, much like what happened in 2008. Because of this, Nicole believes economic growth will be limited this year.