<p>The market today is signaling that the era of easy money for governments is over. That has some serious negative implications for global growth and — by extension — oil demand.</p><p>The problem I see is that it also has negative implications for financing the green transition. The plan — particularly in Europe — calls for enormous amounts of spending on the transition but if the fiscal taps are turned off, what happens?</p><p>In any case, that’s a trade for another day. Right now the market is worried about global growth and oil is taking the hit. The fall through $80 puts oil back at January 12 levels — virtually wiping out the gains for the year. </p><p>Anyone heard from OPEC lately?</p>
This article was written by Adam Button at forexlive.com.