Gavin Jackson
speaker
1,127 appearances
18 recordings
4 series
first heard May 2026
last heard 26 Jun
Gavin Jackson’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 18 in all, peaking in Jun 2026 with 10.
Appearances
The odds for a true episode of demand destruction would require a severe technological change of consequence.
So I'm sure all of you and your listeners have heard about how electric vehicles are the death of oil demand.
And when you look at the data, you realize that's again,
a marketing pitch from people that are involved in either making or some aspect of EVs, but it's not really a threat to global oil use.
And the biggest thing you worry about in terms of demand is a recession or something that causes a recession.
That would be
a legitimate topic if you're thinking about oil demand is going to weaken.
But in terms of the trajectory, and we made a very outspoken call because, yes, we deal with the near term, but we have to deal with bigger trends.
Our clients are dominantly institutional money managers.
So you're talking about bigger trends.
And the big trend with oil demand, which we...
found ourselves getting a lot of pushback from.
It doesn't matter if it was right for the right reason.
But during COVID, where people thought demand was going to permanently be derailed, and you're like, no, once the world goes back to normal economic activity, oil demand will go back to growing at about half of the rate of GDP.
It's actually 55% of the rate of GDP, which is exactly what's been going on.
So the stories that started coming out when traffic and production were interrupted from the Iran war and oil prices rose, started getting people to bring out the old drums and bang on them and saying demand destruction, demand destruction.
I heard the same thing 26 years ago when I was at Merrill Lynch.
ushered a call that we were going to see oil prices become a $25 commodity.
People kept saying it was wrong.
There's no way oil could be $25.
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