Yesterday from 11 P.M. Japanese time I had the pleasure to attend a Twitter Q&A with Bloomberg New Finance CEO Michael Liebreich. I posted questions I had prepared for the occasion on Sunday here.
I have somewhat mixed feelings about the event.
While I like Twitter and use it a lot, I am not sure if it is the best medium suited for this kind of conversation. Liebreich was bombarded with a multitude of interesting questions at the same time, making it very difficult to respond or follow up.
If one uses this format, I would recommend doing it like James Altucher, who has one of these each week, but then follows up in a long blog post where he can extend his answers.
Personally, I received an answer to one of my questions (the more important one, in my view). Hooray for me! I also managed to make myself look stupid in the process, which is always a welcome experience for a change.
Exactly at the start of the scheduled time, I tweeted this:
If by regulation the amount of oil sold went down 5% each year, would oil prices and oil company profits rise?
I was forced to reword my draft from the day before somewhat because the long hashtag eats so many characters. They should have chosen a shorter one.
To that, I got this reply:
I would be surprised to learn that Michael Liebreich actually has the intercontinental mind-reading skills necessary to know what I thought at the time, so I understand this as a (somewhat stinging) way to say “stupid question”. Or, as they would say in the UK “daft question”.
And I agree. It does seem obvious, so why do I need to ask an expert like Liebreich?
After some conversation I leave out here, I also go this as further confirmation:
So I got Liebreich to agree with my point of view, which is only common sense, that less supply leads to higher prices and profits.
So why again would fossil fuel companies be opposed to having exactly that happen? Why don’t they join forces with 350.org?
That’s the part where the discussion would have become interesting (as opposed to the part that made me look stupid).
But unfortunately, it was not possible in that Q&A format to advance the conversation any further.
I posted my other question as well, but there was no time left to answer it.
I hear that next month another of these is scheduled. I probably won’t participate with any questions, and limit myself to lurking next time.
Related post: The simple solution to global warming