Fabulous Quarterly Earnings Ahead? Perhaps increasing oil demand and prices suggests hope on the horizon for O&G?
6 replies (most recent on top)
@brb+1dxXSgQ7
There are some serious concerns that OPEC spare capacity is no where near what they claim. They have undershot on their 400k a month increase 2 months in a row (this isn’t by choice). I know there is no convincing the Greenpeace warriors on here that fossil fuels are going to be crucial (as in necessary for the continuation of the human race) for decades to come, so I’ll just enjoy my schadenfreude for the time being. Feed me your downvotes smooth brain Greenpeace Warriors.
The high prices was because demand is coming back and supply isn’t, because nobody wants to make massive capital investments in resources that will not be needed halfway through their lifetime.
You also have the cartel not increasing its production, even though it easily could, and the US majors are doing the same because once we add ours back, they will add theirs back, and it’ll go back to low margins like we had before covid.
@oof+1dxXSgQ7
Yes, and they have been paying >$200 MWhr for electricity this summer when the wind quit blowing for a month AND having to bring coal power plants back online.
Everyone has a plan until they get punched in the face. - Mike Tyson
Company will need to pivot as demand declines. DW said as much at forum.
Not hardly.
Not saying softly.
or militarily or politically.
Just not hardly.
Temporary "fix". Europe is (slowly) getting out of fossil fuels.