Your host, Stijn Schmitz welcomes back Dr. Mark Thornton to the show. Dr. Mark Thornton is Economist and Senior Fellow at the Mises Institute. This discussion centers on global economic disruptions, particularly in commodity markets and energy sectors, stemming from geopolitical tensions in the Middle East. Dr. Thornton highlights the significant impact of potential oil and gas supply disruptions, estimating that 15-20% of global supply might be affected.

Timestamps:
00:00:00 – Introduction
00:01:05 – Global Economy Uncertainty
00:04:10 – Middle East Disruption Impact
00:04:57 – Stock Market vs Oil Discrepancy
00:06:52 – Supply Chain Byproducts Effects
00:11:13 – Oil Cutoff Long-term Consequences
00:14:33 – Global Pain Points Analysis
00:22:38 – Reshoring vs Free Trade
00:31:26 – Natural Gas Opportunities North America
00:39:08 – Unleashing US Resource Potential
00:43:43 – Petrodollar System Cracks
00:50:25 – Gold Settlement Currency Role
00:56:03 – Gold & Fiat Currencies
01:02:42 – Concluding Thoughts

Guest Links:
Website: https://mises.org
X: https://x.com/DrMarkThornton
E-Mail: mailto:mthornton@mises.org
YouTube: https://www.youtube.com/results?search_query=mark+thornton+minor+issues
Book-Hayek: https://mises.org/library/book/hayek-21st-century-essays-political-economy

Dr. Mark Thornton is a Senior Fellow at the Mises Institute and formerly held the Peterson-Luddy Chair in Austrian Economics. He hosts the podcasts Minor Issues and Unanimity and is Book Review Editor of the Quarterly Journal of Austrian Economics. His books include The Economics of Prohibition, Tariffs, Blockades, and Inflation, The Bastiat Collection, and The Skyscraper Curse.

He has served on multiple editorial boards, taught economics at several universities, and worked as Assistant Superintendent of Banking and adviser to Alabama Governor Fob James. He holds degrees from St. Bonaventure University and Auburn University and has debated the “War on Drugs” at the Oxford Union.

Dr. Thornton has been featured in major outlets such as The Economist, Forbes, New York Times, Wall Street Journal, and USA Today, along with numerous international and regional newspapers. His commentary appears regularly on the Mises Institute’s platforms and on programs such as Boom-Bust, the Tom Woods Show, and the Scott Horton Show.