Int energy intensity figs for conventional and renewables.
An awful lot of conventional energy required to make all these green energy solutions.Wheres it going to come from.With years of under exploration ,many countries reserves at lows,close to max production globally,refineries that can't keep up imo $100 a barrel is the base from hereon not re $50 like in past recessions.Im up to 10% invested in energy atp .Just hope I'm right and it really is different this time and that the world is still in denial about the perfect storm pickle it's got itself into DYOR it can be a volatile sector.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Nope ... well not unless ... consumers don't want to see any major investment in keeping Oil flowing anywhere near demand rates going forward .. the majors will just continue to buy-back shares and not keep investing in steady production levels..
I see Brent oil closed $101bbl .. 143bbl AUD ....
Last edited by JBmurc; 17-07-2022 at 07:09 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Is talk around an agreement might be made with IRAN soon ... but thats been talked about for years .... I think we have more Bullish cases than Negative .... most likely we will see Brent oil bounce around 90-100bbl levels till we have a clearer picture after USA mid term elections which I'm sure US Govt has been involved in keeping the Wti lower to promote better sentiment for present Govt trying to rain in INflation...
This morning's weekly EIA Report (I had to triple check these are correct)
Total Crude Inventory: -10.5 million barrels
Commercial: -7.1 m
SPR: -3.4 m
Total Gasoline: -4.6 m
Total crude inventory is now down 16% yoy and SPR is down 26%
Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said. https://ca.news.yahoo.com/opec-chief...093000669.html
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by Joshuatree
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