The History of a Scandal: Metallgesellschaft Revisited with Kevin O’Reilly

The History of a Scandal: Metallgesellschaft Revisited with Kevin O’Reilly

In 1993, Metallgesellschaft, the German Global Industrial conglomerate lost $1.3bln in oil derivatives trading through its US subsidiary MGRM. The details leading up to their implosion and the subsequent actions taken by their CEO, trading counterparties and their lending banks have been hotly debated by academia, business school students and their contemporaries in the markets ever since. In this episode, as we approach the 30th anniversary of one of the largest and most famous financial calamities in the oil trading markets, we review the key moments and, uniquely, draw on viewpoints from industry veterans present at the time: What really happened and why? What did the academics miss and what, if anything, has been quietly hushed? What lessons were learned, if any? Joining us is Kevin O’Reilly, commodities investment banker and commodity markets theorist.

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The Fate of Rome: climate, disease and the end of an empire with Kyle Harper

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Insects & Commodities with Charlie Drew

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Nuclear Power & The Energy Crisis with Mycle Schneider

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The European Energy Crisis is viewed through the lens of a gas supply crisis, in the wake of Russia’s invasion of Ukraine. While true, it is as much a product of a European nuclear energy crisis, cent...

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Metals in Transition: Copper, Aluminum and Steel with Charlie Durant & Sarah Macnaughton

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Following the recent LME week and COP27, we are checking in on the metals market. In particular, Copper, Aluminum and Steel. All these metals face the twin forces of energy transition & sustainability...

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Unlocking Titanium with Taso Arima

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Titanium is an engineer’s dream. Lighter than steel yet stronger than aluminum and extraordinarily corrosion resistant, titanium can help facilitate the clean energy transition—from EVs to wind turbin...

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The Future of Gas Stations with Dan Munford

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Gas stations have played a pivotal role in civil infrastructure for over a century. The pump has served as a proxy for a country’s development status and a polity’s health. Over time its role has deve...

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LNG: The New Marginal Fuel with Tamir Druz

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LNG now drives natural gas prices in Europe. After decades of this only being the case in Asian markets, LNG could shortly price markets worldwide. How did we get here in terms of assets, players and ...

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