Frank Salvato
In 2024, Texas oil and gas executive Jeremy Paul warned that global energy markets were being suppressed due to policy decisions that ignored economic and geopolitical realities. Paul, CEO of Eagle Natural Resources, argued that oil prices needed to reach a natural equilibrium, ideally between $90 and $150 a barrel, with a realistic sweet spot around $130 to $140. Only at these price levels would exploration be incentivized, production be sustained, and broader economic stability be maintained. He warned that suppressing prices could ultimately lead to "the price of war."
The structural imbalances that Mr. Paul identified have solidified into a harsh market reality and geopolitical danger. The suppression of honest price signals not only distorted investment; it also rendered the global energy system fragile, underfunded, and dangerously vulnerable to the shocks that policymakers claimed to prevent.
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