Last week, I spoke at length with Robert McNally, the founder and president of Rapidan Energy Group, a Washington, DC-based energy consulting firm. McNally served in the White House under George W. Bush as senior director for international energy on the National Security Council. He’s also the author of the 2017 book, Crude Volatility: The History and the Future of Boom-Bust Oil Prices. I met McNally a few months ago when we were both presenting at a conference at Southern Methodist University. As you will see below, McNally has deep knowledge of oil markets. In particular, his understanding of previous market disruptions and conflicts in the Suez Canal, the Persian Gulf, and the Strait of Hormuz is helpful for understanding where we are today. Here’s an edited and condensed transcript of our discussion.
