"we're now in 2020 after COVID uh where we the the the AI world started people start talking about you know data centers the electric grid is insufficient we need to spend money there and so all of a sudden uh we're starting the next super cycle of commodities" - Josef Schachter [00:21:07]

"it's the emerging world that's really growing because if we need more lithium…

"We're just getting started to reflect the totality of the increase in oil prices in the markets both things can be true which is that it can be immediately inflationary and put the Fed on its heels... and over time be enough of a drag on growth that it could create a negative shock on the economy..." - Bob Elliott [00:00:00]

"The dots are nonsense and just like…

Here is a comprehensive summary of the Bloomberg Television interview with Jeff Currie of Carlyle, breaking down the severe global macroeconomic implications of the current energy supply shock.

Overview Jeff Currie details an escalating global energy crisis defined by a massive divergence between physical commodity shortages and lagging financial markets. Describing the situation as a "molecular contagion," he…

"Even if a ceasefire is reached in the coming days, it will take time to restart the energy supply chain." - Host (Establishing the persistent nature of physical market damage) [00:00:02](https://www.youtube.com/watch?v=KkuNz2_L8tk&t=0h0m2s)

"This is not just a disruption in oil; it's gas, it's fertilizers, it's metals, it's petrochemicals. The list goes on and on." - Jeff Currie (Highlighting the…

"The short is out. The market is net long now for the first time in nearly a year and I think they've given up the ghost of the glut." — Jeff Currie (Discussing shifting sentiment in oil markets) 00:00:19

"I wrote this piece comparing the shale revolution to the AI boom. People forget that in 2013 and 2014, energy could do no wrong... and people hated tech." — **Jeff…

"[To understand what's going on in politics, you have to understand the money. And a lot of the time... the money is commodities.]" - Jack Farchy (On the intersection of geopolitics and trade) [08:52]

"[We just bought the oil... We have a deal and that's it. We better find a tanker to bring the oil.]" - Javier Blas (Recounting his first experience…

The video highlights five key trends that will influence energy markets in 2026, moving beyond immediate geopolitical headlines to deeper forces (0:04).

• LNG Tsunami (0:10): 2026 is expected to see the largest supply expansion in history, leading to a global surplus. Project delays could be a major factor in Henry Hub volatility…

"The market is oversupplied. Inventories are rising... and we expect roughly a 2 million barrel a day surplus this year." — Francisco Blanch (On fundamental weakness) 00:00:42

"The recovery of market share that OPEC started a couple years ago hasn't quite been fully finished." — Francisco Blanch (On strategic goals)…

"I like to say show me the glut... if you're having to scrape the data to find evidence of this oil supply glut, it's not an oil supply glut." - Jeff Currie (On the inaccuracy of current market surplus theories) 00:00:19 *"We called this the revenge of the old economy and it's a rotation out of the new economy tech... into the old economy which is asset…

"The conversation has gone from peak demand being right around the corner to... there's this massive need for investment because demand's going to be growing all the way up to 2050." — Eric Nuttall (On the shift in global energy sentiment) [00:29](https://youtu.be/Dl8bfpNzIZA?t=29)

"We are in a post-shale world. That analysis was confirmed by OPEC today." — Eric Nuttall (On the peak of non-OPEC…

"I call it the manufactured surplus because it is made up in Excel sheets." 25:08

"A collapse of the regime [in Iran] is the worst disaster they [gulf states] can have... imagine a flood of refugees of 90 million people." 36:58

"If Russia repairs its refineries... their domestic demand for crude goes up, and their…