In this episode, we invited our dear friend Jon Crawford back to talk about oil and gas again. As you may know, the Ukraine-Russia crisis has had an enormous impact on oil prices recently. We were curious: how would this crisis affect supply and demand, both qualitatively and psychologically? Tim asked, why are oil prices so volatile, and where are the prices going in the foreseeable future? Unlike most eye-catching new titles that make you feel like we are facing this extreme oil/gas catastrophe, Jon was actually fairly optimistic about the oil prices knowing the capacity of OPEC, U.S. oil reserves, and the potential Iran deal. As Jon mentioned, an extreme oil crisis usually doesn't last more than 6 months. So around Memorial Day, we might be in a very different spot, and possibly seeing lower oil prices. Nathaniel asked Jon's opinion on green energy, especially his take on Germany shutting down their nuclear power plants: is the world truly ready for green energy production and utilization? Overall, the oil industry is a very complex ecosystem. It's highly sensitive to geopolitics. However, in the long term, the biggest price deciders are still the market forces of global supply and demand.3
