Baytex Energy Corp T.BTE

Consequences

[marketsense]

While I have some sympathy for those who can't afford the repercussions of $90 oil.
I respectively say to you that there was no concern for oil companies or their investors
over the last 5 yrs when oil was in the tank.  In fact,  the same people who are crying now were fine with the total demise of the industry and couldn't care less about investors 
losses.

Now because of the hatchet job done to the industry,  there is a structural shortage of
supply.  Listen,  there are consequences to the anti fossil fuel policy that gov'ts have 
been pursuing.  Now that those consequences are rearing their ugly head,  don't 
blame the oil companies or their investors for making money.

Europe made a deal with the devil to get cheap oil & gas from Russia instead of 
investing in more expensive developements in the North Sea and elsewhere.  Lets
get Russia to supply us on the cheap so we can spend our money on renewables.  We 
don't like fossil fuels but we like Russia's because they're cheap.  Hypocrisy x 10.

As I said,  when you screw up big time in life,  there are deadly serious consequences.
Gov'ts everywhere want to paper over their mistakes by raising interest rates in an 
effort to squelch demand instead of admitting their own damn culpibility in creating
the whole fiasco to begin with.  The only proper way to fix this is to encourage supply
growth,  certainly not to punish the economy with ever increasing rates.  That is an
a ss backwards way of attacking the problem and for what ever gains you may get,
you will be faced with even more problems than you started with IMO

[HighOctane89]

You are preaching to the choir MS , I agree with everything you say but here's the problem . Even with a green light , gold plated invitation , the industry would be hard pressed to meet increased production targets . The only quick solution is pumping up interest rates in an attempt to kill demand although $6/g at the pump will kill demand (and democrats) too .  Price spikes are a fast

[Moemoney42]

"Clarity on whether they are cutting quota's or actual production will be important so we'll see how their decision is explained ." You've hit the nail on the head H.O. the cut could end up being a nothing burger anyways if its just quotas that are being cut.. OPEC+ hasn't been making their quotas for months.. but people seem to forget that and run with a "headline

[Hightowntrader]

If they announce they are only cutting quotas, we are back to last weeks prices in a day or two. It would be totally useless on their part, and we would have to wait another month for OPEC's next power move. Last months 100,000 wasn't worth the breath expelled to say it. Personally, I like the 1 million story. When I started hearing 1.5 to 2 per day I got a great big sh it eating grin on

[HighOctane89]

If only we were gifted with such clairvoyance as sc that we too could see the future as soon as the next headline is published Moe , lol . There's a time to fight and a time to be smart , OPEC needs to be smart right now . Be like Clint Eastwood , have the sun at your back and attack from an elevated position on your own terms . Selling 10 barrels at $80 is better than selling only 5 at $100 ,

[raven16]

How About 8 Barrels At $90.Lol

[masfortuna]

 LMAO Raven!  Love it!

[masfortuna]

Well said Market.  I agree completely.  As an aside, the last time oil peaked in 2014 it was a lot higher than $90. assuming a 2% inflation rate annually for 9 years (2023 in 2 months away). we are looking at 21% less.  That brings us the equivalent of $70 oil as opposed to $142 in 2014. Would anybody have complained about $70 oil back then? I didn't think so.Pay what the price

[Greenday]

JPMorgan's global head of enerrgy strategy says that oil is cheap relative to all fuels on a historical basis.  The gas price equivalent to oil is $300 and the coal equivalent is $400 and he believes that there will be a gradual repricing of oil to the extent that the economy can take it. https://youtu.be/iL0ZnCYlYIo