This has been brewing for a while now. O&G has always been highly cyclical and the price crash in 2014 curbed spending, but then we began contending with stronger ESG forces also curbing investment towards creating new or even maintaining current production as wells and other sources are exhausted.

Anything can happen going forward, but high prices are to be expected when you curb production and demand doesn’t drop to match. It’ll be a long time before stuff like electric vehicles have a big negative impact on demand, especially as less developed parts of the world continue maturing and increase their consumption.

At the same time, prices of materials required for batteries/electrification are also going way up: lithium, copper, rare earths, etc. It’ll definitely be interesting to watch how this unfolds

If only the US hadn't done something stupid like shut off oil pipelines.

I don’t want to dissuade anger over cancelling something like the Keystone pipeline, I worked on the Alberta leg of it connecting to the border out of Hardisty. But reality is that Alberta has enough pipeline capacity now even without Keystone, especially with TransMountain coming

Michigan going after Enbridge’s Line 5 is a different story though and a different level of stupid. And I can’t comment on too much else happening with American pipelines.

This idea that cutting off supply will reduce demand is farcical without an alternative that is available in abundance right now, and there isn’t. People still need to drive and there aren’t enough battery factories in the world to produce EVs to replace their combustion vehicles, nor is the infrastructure ready for it.

If it reaches 4 for 87 around here their will be blood in the streets. Gas/Fuel affects everything in the grocery store as well.

just fkin lmaooooooo

the way u fabricate post after post is crazy. you are so dramatic like a 13 yr old girl