Enjoy the high oil prices while you can because by the end of 2022 shale oil will be climbing to new highs:
https://www.bloomberg.com/news/articles/2022-01-11/u-s-crude…
On a side note, Bloomberg also reports that Natural Gas prices fall in the UK as US LNG ships make deliveries.
Makes you wonder how Putin feels about that?
OTFoolish
Enjoy the high oil prices while you can because by the end of 2022 shale oil will be climbing to new highs:
Or this could happen…wait, it has already happened:
What fuels this concern even further is that some members of the extended cartel OPEC+ are nearing the limit of their spare capacity, and Russia is among them. One of the world’s top producers, according to reports, is finding it difficult to return production to pre-pandemic levels at a time when other OPEC+ members are dealing with the same problem. This means that even if demand continues to grow at the current solid rate, supply may not be as quick to catch up.
At the same time, European supermajors are deliberately reducing their oil production in line with the strategy to move toward renewable energy under pressure from shareholders, activists, and governments. So, on the one hand, we have less money being spent on new supply and on the other, we have a deliberate reduction in existing supply.
https://oilprice.com/Energy/Energy-General/Can-The-World-Avo…
We live in interesting times. Energy ignorance of the masses makes it more interesting:-)
At the same time, European supermajors are deliberately reducing their oil production in line with the strategy to move toward renewable energy under pressure from shareholders, activists, and governments. So, on the one hand, we have less money being spent on new supply and on the other, we have a deliberate reduction in existing supply.
Brilliant a powerful lobbying effort in the US to keep fossil fuels prominent is screwing the country. We could be moving faster than any other country on earth towards alternatives with major worthwhile investments by the federal government, but instead a dying breed are keeping us failing to compete.
Is that all the fossil fuel people need? A failed America?
Makes you wonder how Putin feels about that?
Putin seems interested in invading Ukraine. Russia’s army is funded by Russia’s oil, and so efforts to move away from oil may have foreign policy benefits. The US could also increase oil production in an effort to reduce oil prices. Reduce demand and increase supply to achieve lower worldwide oil prices. A carbon tax would capture the windfall which could then be used for carbon sequestration.
Russia won’t rule out military deployment to Cuba, Venezuela, January 13, 2022
“The Russia-U.S. negotiations in Geneva and a subsequent NATO-Russia meeting failed to narrow the gap on Moscow’s security demands amid a buildup of Russian troops near Ukraine. While Moscow demanded a halt to NATO expansion, Washington and its allies firmly rejected that as a nonstarter.”
https://abcnews.go.com/International/wireStory/kremlin-deplo…
We live in interesting times. Energy ignorance of the masses makes it more interesting:-)
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What makes you think that the masses are ignorant about energy. After all you are a biased oil industry worker.
Russia won’t rule out military deployment to Cuba, Venezuela, January 13, 2022
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Empty threat and not a serious danger to US if it happened.