RE:UPDATE: Ecuador slashing oil output as erosion deepensIt's all so counterintuitive , when you look around none of this makes any sense . Most of the world is experiencing an energy crunch but NY whistles past the graveyard and sells short .
Europe is running on empty without an option , Nordstream 2 risks not being commisioned this winter not to mention Russia/Ukraine tensions . Iran nuclear talks are at a stand still and US/China relations are inflamed . The political risk hasn't been higher in decades and there are no large developements planned , under construction or nearing completion . Demand doesn.t have the elasticity that the market seems to think it does .
Artic air is now flooding into western Canada as it has in Europe , America is not immuned to winter even though they seem to think so . The more the market deny's the truth , the harder that squeeze will be when reality catches up with perception .
While the market looses it mind and focus (reminds me of my cats attention span) , we are one headline away from an about face . This low volume environment is being exploited but that is a 2-way street , stay tuned . A growing interest in under-valued energy stocks is well underway .