ObeObe is so tied to commodity prices holding strong rest of 2023....
More and more investors are probably getting more nervous on the sustianablity of oil holding and NG holding.
Hard to value OBE when everyone's cystal ball is very cloudy on forecasting right now.
NG went down 9% in one day...these are not real prices long term. Majoirty of commodity traders short term.
All the renewable assumptions are based on low oil and ng prices.
Califronia was supposed to be 35% electric cars by like 2026....and probably made sense at when WTI long term curve was 65-70 dollars.
Pump oil to110-120 dollars...and once EV's are available....this 35% of new sales could be some point in 2023 instead of 2026. That is the danger with todays markets.
Look at the timing of NG spike....right before solar roof top installation season...we are watching the economics of roof top solar show and destroy power produced by NG.
Substution is going to be an issue.
Cost of living is one of the most serious issues facing North Americans. Trudeau and Biden are winning as they are forcing consumers to some diffucult decisions.
Not being a debbie downer, but Whitecap, CJ, etc are not buying out other companies...these CEO's are not acting like this is sustainable prices.