Robert McNally, author of the new book 'Crude Volatility: The History and the Future of Boom-Bust Oil Prices' joins senior oil editors Meghan Gordon and Brian Scheid to talk about the history — and future — of crude oil prices.
McNally, a former White House energy advisor and president of the Rapidan Group, discusses the new era of market volatility, OPEC's relevance to the crude market and what impact the incoming Trump administration will have on world oil supply and demand. His book argues that swing producers since the US Civil War have kept oil prices relatively stable, but the current absence of such a swing producer now has prices in a period of accelerating volatility and instability.
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