Peter Zeihan, author of the book The Accidental Superpower, on the future of U.S. and global oil prices. The following are some excerpts from his appearance on the TV program Global Public Square.

Stock exchange–listed Real Estate Investment Trusts (REITs) as well as other listed real estate companies have long been included in the Financials Sector of the stock market as classified by the Global Industry Classification Standard (GICS). Now, S&P Dow Jones Indices and MSCI, the co-developers of GICS, have agreed the time has come for this to change — and with good reason. Real estate is about to be recognized as a major part of the U.S. economy and capital markets, as well as a distinct and much more visible investment opportunity for all to see.

It is one of the things business executives fear most — disruptive change to their industry. It can reduce a business model to obsolescence, steal market share and evaporate profits.

Think of the bankrupting of Kodak after the advent of digital photography, the decimation of the music industry after MP3s and music-sharing applications came along, or how Microsoft was marginalized when the company moved too slowly into the new frontier of cloud computing.

The wealth advisory business has already seen its share of disruptions, and Joe Duran points to more disruptions to come. The founder and CEO of United Capital sees “massive” changes yet to come, including the widespread use of robo-advisers and the emergence of a cottage industry filled with boutique financial advice practices, triggering a major compression in the pricing for investment-only services.

Toward the end of March, U.S. crude (oil) reserves jumped by 8.2 million barrels in one week, reaching the highest levels in about 80 years. As could be expected, this unusual economic occurrence affected energy valuations, which were already weakened by oversupply, and the price of U.S. light crude oil flowed below $50 a barrel — a good deal if you are a consumer; not such great news if you are a real asset investor.

Think about your office building’s intelligence quotient. It is no Einstein. Do not feel badly; most buildings are well to the left of the bell-shaped intelligence curve.

The commercial structures we inhabit started as little more than a protective shell, separating us from the elements. Concrete block construction gave us strong edifices of limited height and flexibility. Then they started breathing as we incorporated heating and cooling systems to enhance our comfort. When the steel girder came along, our buildings turned from crustaceans into vertebrates and are now capable of reaching far into the sky and withstanding shocks as violent as earthquakes.

So some of your well-heeled clients are inquiring about the attractive returns various U.S. retail real estate investment vehicles have been generating the past few years. They keep hearing that investors targeting regional malls, smaller centers and freestanding properties are managing to defy the nation’s relatively anemic economic recovery, as well as the continuing onslaught of e-commerce in certain categories.

Houston has got a problem.

The red-hot Texas city has been running its economic engine on high-viscosity oil for years, to great effect. It might be difficult for some of us to believe that economies still run on something this primeval as oil. But oil is the culture in Houston; it is a matter of civic pride. Oil is to Houston what champagne is to France. And it’s a darn good living at $110 a barrel. Houston honky-tonks have been belting out songs of happiness and prosperity for some time now.