Today, we are talking interest rates. The rate of interest, or the price of money, has a profound impact on the energy and commodities sector, influencing the cost of carry, the price of assets and investment decisions. The story we're about to tell is what happens to economies and societies and the energy and commodities sector when interest rates are unnaturally low, as after the global financial crisis. In this episode, recorded just prior to the collapse of Silicon Valley Bank and Credit Suisse in 2023, financial historian Edward Chancellor, joined us to discuss his book “The Price of Time”. He's noted for his prescient warnings on major economic bubbles, has many awards and accolades, and described by Fortune magazine as one of the greatest financial historians alive.

For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode, we discuss geomagnetic storms, extreme electromagnetic events known as coronal mass ejections that would destroy every satellite around the planet, wipe out power grids and most if not all of our electronics. The Carrington event that happened in 1859 destroyed the only electrical system at that point, the telegraph, across all of North America. An event such as that now would have catastrophic, even civilization-ending impacts. Scientists predict an event like the Carrington event happens every 100 to every 500 years. And the Carrington event is small compared to pre-history events. Yet despite the profound impact and the likelihood, public awareness remains low, there is little political action, little has been done to harden our power grid or plan for such an event. Since recording this episode in 2024, we have witnessed numerous X-class flares and geomagnetic storms triggering Northern Lights across the Northern Hemisphere. To talk about geomagnetic storms, their impact, the likelihood, the fragility of our global power grids and some solutions, is Distinguished. Professor of Electronics and Computer Engineering, Edl Schamiloglu. Edl is the Distinguished and specializes in extreme electromagnetic phenomena.

For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In 1859, illumination throughout the major metropolises of the West was powered by whale oil. Whale oil was at the center of international trade (and trade disputes). Prices were at an all time high and great fortunes had been made. Yet, in that same year, Edwin Drake started the oil rush in Titusville, Pennsylvania…and every thing changed. Quickly. What lessons are there in this first energy transition in the modern era? In this episode we dig into the history of whaling and whale oil. Our guest is historian Eric Jay Dolan, author of Leviathan: A history of whaling in America. Eric takes us through the history of whale oil. A history of the first commodity cartels (they failed too), extraordinary entrepreneurs, boom and bust, environmental exploitation and Benjamin Franklin’s taste for Spermaceti Candles.

For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global