Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
This week, the Financial Times noted that a second oil shock is arriving.
The mathematics of crude oil
The IEA has called it the greatest global energy security challenge in its history. The national average gasoline price has crossed $4.50 per gallon and is days away from the $5.02 record set in June 2022. The Strait of Hormuz, which normally carries north of 12 million barrels a day of seaborne crude and condensate, remains closed.
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