In it to Win it, Released on 12/3/25

Doomberg, our resident energy expert behind one of Substack’s top financial newsletters, returns to In It To Win It with Steve Barton to deliver a sharp, data-driven look at global energy, economic stability, and geopolitics. He explains why the world is currently awash in hydrocarbons, with oil drifting toward a long-term equilibrium of 55 dollars per barrel and coal showing minimal movement. Natural gas, however, is gaining momentum as AI-fueled demand from new data centers begins shifting to regions like the Permian Basin. Doomberg breaks down how this rising demand for gas could paradoxically drive oil prices lower due to the economics of co-produced hydrocarbons in shale drilling. Doomberg makes the case that the United Kingdom is becoming a failed state, struggling with energy dependency, industrial decline, and internal unrest. He raises the possibility of a behind-the-scenes peace deal between the United States and Russia that could bypass Ukraine entirely, reshaping the geopolitical landscape. The episode wraps with a discussion on how advancements in deepwater drilling are unlocking new reserves and why the long-term trajectory of oil prices is downward in real terms. Viewers interested in global energy trends and macro investing are encouraged to like, share, and subscribe for more expert interviews.

00:00 Doomberg is back on the show!
01:22 Macro energy market update
03:39 Hydrocarbons well supplied globally
05:31 Gas price surge impacts oil
10:03 Data centers moving to gas
15:11 Using physics in energy trading
17:08 WTI vs Brent spread explained
19:36 Market signals and crowd wisdom
22:17 UK energy decline and politics
28:04 Ukraine conflict outlook
31:35 Possible US Russia energy deal
34:49 Deepwater oil viability
36:07 Long term oil price outlook
37:34 Oil to gold price trend
39:50 Follow Doomberg

Doomberg is the anonymous publishing arm of a bespoke consulting firm providing advisory services to family offices and c-suite executives. Its principals apply their decades of experience across heavy industry, private equity and finance to deliver innovative thinking and clarity to complex problems. Doomberg on Substack: https://doomberg.substack.com.

  doomberg, energy, investing, natural gas, oil