I've recently acquired some CVN, the oil sector is unloved, but gas in Aussie is an increasing issue re demand. CVN has both and an exceptional strike rate in the NW shelf WA where all there projects are concentrated.
Well worth a read of the last presentation and quarterly.
It'll take 25 barrels of oil to make each EV. Don't worry just cos fuel use in vehicles is starting to decline, we still have to make all those batteries and 3 billion cars to be replaced? And all the solar panels, just cos we ain't burning it directly while driving, doesn't mean it's not consuming indirectly.
Our government has waived road user charges until 2021. That only helps the early adopters. Then the cost of running will jump up. I suspect the rate will have to go up as they start missing all the return from fuel excise tax.
There will obviously be a lot of people hanging onto old Dino tech for various reasons. The problem with the technology is that it doesn't allow for a disorganized human. I can't be bothered to plug in my phone nor wait an hour to charge... How's my car gonna be different? Much rather go buy some gas.
Amazing gap down from $43 to $27 when US market opened.
Yeah that was a huge gap. I did nibble and buy some oil today at $30.90. Will see where that ends up. Down currently but thinking in the next 12 months will have chances to exit profitably.
Black cap...
oil is headed to $20us or below...
Into the total unreal prices
.^sc
It may be, it may not be, but if it does I shall be purchasing a lot more. Now I have to find a space on my lawn for the 200 barrels I purchased today. The Mrs was not happy, looks like the lawn is going to be covered
Oh wow what is Saudi Arabia doing here...
They need $82-84us per barrel just to break even on the books...
With the demand shock this could get real ugly...
$15 barrels next is it... this is truly the twilight zone...
I just cant come to terms with how sickening that is...
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