“For two years now inventories around the world have been declining, which means that demand has been running ahead of supply. Energy prices have been moving higher, energy stocks have shown leadership and yet we’ve seen no capital response – no money has been put back into the ground in any of the extractive industries really – and that’s just been ratcheting this market tighter and tighter and tighter.” MacroVoices #334 Adam Rozencwajg: Understanding the Global Energy Crisis (YT)