Post by
goldenrivit on Jan 29, 2023 7:47am
Coming NG shortage is seeded already and most can not see it
What are the facts as we know them.1) the warmer weather has created a temporary glut. But weather patterns can change fast as we are seeing with the Canadian cold air blast down into Texas this week.2) low gas prices are the very thing that creates the next shortage as production will get shut in.No drilling new wells no gas supply increase.These are proven facts that are always in the fabric of the energy business of oil and gas.
But the biggest factor to hit the OG sector in its entire history.The "leave it in the gound" crowed has infiltrated the board rooms of the producers and are winnig the argument as we have seen with majors of Exxon,Cheveron with its $75 billlion but back program last week to name only a few.In time of gushing OG profits prior to the board room invasions the majors would launch major E&P programs to capture higer production in higher prices.In fact we are seeing producers from small like BIR to large like Chevron to the focus no longer of production but instead returning capital to shareholders on buy backs or big div increases.That capital will not drill even one well.On top of that the industry is seeing a big roll out of EV and goverments around the world moving to ban the sale of gaoline cars and large trucks during this decade.So years into the future the industry is seeing its customer consumer switch to electric energy sources.So increasing production in the long term is a zero sum game.
So investors in the energy space are going to get the old in ground profits change to the new in pockets of shareholders agenda adopted like we seen with the mega div increase with BIR.Unlike Eric if they send me the cheque I will not send it back.I will cash it.
Comment by
checkup on Jan 29, 2023 12:40pm
The production of EVs will take enormous use of fossil fuels....mining, blast furnaces, transport. There are not enough rare earths and metals on this earth to supply the requirements for EV batteries...1,000 pounds of metals per EV car.... It is nonsensical. Optimal running temp for EVs is 70 F, fast charging decreases battery life, many negatives.
Comment by
dandu1924 on Jan 29, 2023 3:03pm
the optimal running temps is 70F and in Canada during the winter at minus degrees the batteries lost almost 50% of their charge and the fast charging decreases battery life AND INCREASES THE HIGH RISK OF FIRE AND CAN EXPLODE. Not so bright, I hope the people will wake up and see the reality about the EV cars.