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.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 18 in all, peaking in Jun 2026 with 10.
Appearances
It's got to go back to $18.
Demand is going to die.
Supply is going to grow massively, et cetera, et cetera.
So it's a regurgitation of just the wrong story.
No, I think that captures it broadly.
We've published a lot of analyses about this.
CapEx for the upstream part of the business, meaning the production side of the world, has shrunk pretty dramatically over the last 12 years.
2014 was the high watermark.
And since that time, allowing for what we forecast for this year,
$3.6 trillion in upstream spending has been forfeited.
And if you look at the world, we'll talk about OPEC and that's separate.
But if you look at the 79 countries that make up non-OPEC, what's been dramatic is that in the last 15 years, almost all of your production growth has come out of the U.S.
It has been shale.
which by definition is a short life resource.
Forget the fact that it's the wrong kind of crude for US refineries.
It's just, it's a short life resource.
And a number of years ago, what the data was pointing to was this slowing in growth.
What you would mathematically refer to as a negative second derivative.
So production growing, but at a slower and slower and slower and slower rate, which actually fits in with the nature of shale oil.
It is different than shale natural gas.
Showing 581–600 of 1,127 · page 30 of 57
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