RE:RE:RE:If I was running SuncorOldnagger wrote: I really do not get all this talk about orphaned Oil Assets. No respectable organisation such as the EIA is talking about the end of petroleum. They are talking about the leveling off in demand in 15 to 20 years time. Renewables are very costly once the necessary storage and distribution costs are added in. Furthermore they are very capital intensive, with long lead times and low rates of return which are hardly conducive to implementation.
If anyone thinks that governments will do the job, think again .
There is also the not too small issue that outside Canada and Europe, everyone is much more concerned about securing supplies of a commodity they desperately need !!
I agree wholeheartedly with your view about orphaned oil reserves and the problems with renewables.
That said, the narrative in the political domain and in the popular press is the opposite. People such as yourself (and me for that matter) know that this narrative is CRaaP but "the guy on the Street" who watches CNN and most of the popular press is told the opposite and doesn't know any better and doesn't actually fact check anything. They just swallow the sound bites. Based on this narrative they shun oil stocks and also reinforce public opinion against people who do know better and force institutions like the Caisse to fall in line.
The irony (and advantage) of all this for investors such as yourself and me is that we will make a lot of money investing in oil companies as the public narrative falls apart as time goes on. The key is to be patient and take a long term view.
That said, based on human creativity and survival instincts, there will come a day (don't have a clue when but most likely after I am dead given my age) when the world will be much less carbon centric and the requirement for oil will be a fraction of what it is today.