April Perspectives: War, Oil Prices, and Staying Grounded as an Investor
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Show Notes
In this episode of Money & Meaning, Jeff Bernier examines how geopolitical conflict influences oil and gasoline prices, drawing on perspectives from economist John Cochrane and JPMorgan’s Michael Cembalest. He explains how war creates supply shocks, why energy markets react quickly, and how those effects ripple through inflation and the broader economy. Jeff also outlines why the U.S. is less vulnerable today and what investors should focus on when uncertainty rises.
Topics covered:
- How war creates supply shocks in global oil markets
- Risk premiums, sanctions, and policy responses affecting energy prices
- The structure and limitations of global energy supply
- Why fossil fuels still dominate and renewable transition is slow
- How rising oil prices impact inflation and the broader economy
- The U.S. energy shift due to shale production and reduced import reliance
- Historical policy mistakes during energy crises
- Why price controls and subsidies can worsen outcomes
- The cyclical nature of energy shocks and market adjustment over time
- Investor perspective: diversification and avoiding macro speculation
- Building portfolios that can withstand geopolitical uncertainty
Useful Links:
- Jeff Bernier on LinkedIn: https://www.linkedin.com/posts/jeffberniercfp_the-money-and-meaning-show-activity-7202103509700227072-h0Qn/
- TandemGrowth Financial Advisors: https://www.tandemgrowth.com/
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)