An oil and commodities expert breaks down how the shale revolution reshaped global energy power and why oil went below $0 earlier this year.

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This episode is sponsored by Bitstamp and Ciphertrace.

Today on the Brief:

PayPal and Venmo reportedly adding crypto buying and selling
Trump executive order temporarily suspends H1-B visa program
Continued growth in bitcoin derivatives

Our main conversation:

Tracy Shuchart is an oil- and commodities-focused trader in the private equity space known for her wide-ranging insights on financial Twitter (FinTwit).

In this conversation, she and NLW discuss:

Why the shale revolution of the last 10 years shifted the power balance in global energy among the United States, Russia and Saudi Arabia
How easy money in the wake of the Great Financial Crisis enabled the shale revolution as much as new technology
Why after the 2014-2016 oil crash it was inexperienced private equity firms that picked up where banks left off with shale
How a growing focus on dividends and cutting costs was creating structural problems for shale even before the COVID-19 crisis
How COVID-19 coincided with a contentious negotiation between Saudi Arabia and Russia that ultimately sent prices to less than $0

STORY CONTINUES BELOW

Recommended for you:

Find our guest online:
Twitter: @chigrl
On the web: chigrl.com

Disclosure

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.