RE:RE:IT isPatience
stockmarket1 ...
Ive been waiting 8 years for this. we're only a cpl months away now...
when we run out of DUCs.... this BS end.
then we will see what the true oil price is ...$200? $400?
WE DONT KNOW BECASUE WE'VE NEVER HAD A SUPPLLY SHORTFALL BEFORE...
" triple digit oil WONT be Transitory
Talk about pouring gasoline on a fire.
from my IV post:
"I’m becoming more convinced than ever that OPEC+ is gonna do everything they can to twist the knife into our backs and get $100+ oil again.
I think OPEC is done caring about keeping prices low for us. We kept pushing fwd with our green energy, vote buying agenda even as oil was $10-20 a bbl last year.
That was a HUGE tell for OPEC that we no longer care about cheap prices in shaping our policies, and that we were prepared to throw them under the bus so a Democrat could be elected.
So no, I think they’re done caring about pleasing the west after that. I think they WANT triple digit crude more than anything, and can’t wait to turn the knife into our backs when we turned our back on them last year.
Before the pandemic hit, world was at 101 mm bbls of crude oil demand. With NO ONE DRIVING last year, demand only dropped to 91mm bbls. So we already got a preview of switching all our cars to electric. We overestimate the importance of driving our 4 cylinder fuel efficient vehicles and their impact on amount of crude demand.
40% of demand is plastics, fertilizer, and Petro-chemicals. Then on the other 60%, there’s planes, trains, transports, cargo ships, tractors.... none of which could funcion on electric engines... and take HUGE amounts of fuel to operate.
Oil is going to be needed a very long time.
Plus OPEC has their new and GROWING markets in China and India. Pleasing the West is no longer their concern."