Episode 690 • • 34:21 - 37:14
690: Win by a Gyp
Synth Oil History, Reagan Era Energy and Texas Defaults
The discussion covers the history of "synth oil" research during the Reagan administration and its eventual collapse when oil prices fell to $12 a barrel in the 1980s. Glenn Beck expresses concern that current low prices will gut the American shale industry in North Dakota and Texas. The hosts suggest that while some companies may default, the overall market is simply correcting overinflated values.