The Breakdown
Oil 101: How Easy Money Enabled the Shale Revolution, Feat. Tracy Shuchart
Jun 23, 2020 · 1 hr 16 min
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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 

 

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