Correlation Or Causation: How The Fed Helped Create The Global Oil Glut (In 1 Simple Chart)
Correlation or Causation?
h/t DoubleLine
Easy money by The Fed expanding their balance sheet ENABLED tight oil to be produced 'economically'...
But the signals this sent to the market became self-fulfilling (thanks to an endless Fed put) further creating record US crude production (as the oil 'gold rush' ensued), forcing a real 'deflating' world to be 'glutted' with ever-increasing output of mal-investment-driven 'expensive' oil...