Jeremy Grantham: US Fracking is the largest red herring in the history of oil

Livewire
Jeremy Grantham: US Fracking is the largest red herring in the history of oil. Nothing that really matters in the long term is changed by US fracking... It has not prevented the underlying costs of traditional oil from continuing to rise rapidly. Grantham says when the costs of producing oil rise, the prices will rise. The current fall in price does nothing to offset the squeeze on the total economy from rising costs. It merely transfers massive amounts of income from one subgroup (oil producers) to another (oil consumers), in a largely zero-sum game. (VIEW LINK) (p.15)
Welcome to Livewire, Australia’s most trusted source of investment insights and analysis.
To continue reading this wire and get unlimited access to Livewire, join for free now and become a more informed and confident investor.

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise