Fred Zeidman Discusses the Current State of the Oil & Energy Market with Bloomberg Markets “The Close” host Romaine Bostick on August 2, 2023
Gordian Group Chairman Emeritus, Fred Zeidman discusses the current state of the Energy market with Bloomberg Markets “The Close” host Romaine Bostick on August 2, 2023.
Below is a timestamped breakdown of the interview with Fred Zeidman.
00:00 | Intro to discussion of the commodities space, particularly the oil and energy space, welcome to Fred Zeidman, Chairman Emeritus of Gordian Group and formally an oil executive.
00:26 | Bostick Question 1: You have got a long resume. You understand this market. You also just saw crude oil at $80 a barrel in a time where the Biden Administration is trying to replenish the petroleum reserve, the economy is trying to get on the right foot.
01:49 | Bostick Question 2: There was a broader discussion about National Security. You could not just be relying on foreign oil, but the idea that we also needed some diversification to other energy sources, and the idea that we need some diversification to other energy sources as well.
02:54 | Bostick Question 2a: They have made it clear, not necessarily a shutdown of fossil fuels, but less of a reliance.
04:41 | Bostick Question 3: Do you see this being resolved? Washington has changed a lot over the last couple of decades. Just the ability for the two sides to agree on anything, as long as you have a narrow majority whether it is in the house or the senate, what are the chances you get any meaningful shift in policy?
06:26 | Bostick Question 4: On your point, Bloomberg reported yesterday that the Biden Administration got rebuffed on the lot bids that were coming in. In their mind, it was too low. You have a market saying we are not going to play this game. We need to get you back to talk a lot more mainly about how the trade routes have changed, but we need to get to commercial.