RE:RE:RE:Time to get rid of the coal in North America !!!FreeCashFlow wrote: Biden is the saviour of the Canadian oil and Gas industry though . Even Trudeau's Ridiculous agenda to shut down the The fossil fuel industry is backfiring . Big OIl is back on top and in charge ! Alberta is only stronger since Biden came in and they are getting stronger !!
It was inevitable. It's what happens when something, especially something like energy, is restricted in development. Drives prices up. The political geniuses knew this because it incentivizes the search for alternatives. Or so they think. The problem with energy is there is just no other alternative to what we have called oil and gas (hydrocarbons) because it touches every single aspect of our lives including the water we drink. Even if you want to go to the river and haul your own water (you'll have to walk after making your own shoes, and you can't even chop your own wood because the axe itself has hydrocarbon written all over it) to avoid using hydrocarbons, you'll have to make your own bucket since you couldn't buy one because the cash/card you buy it with, and the bucket itself is touched by hydrocarbons aka oil and gas. So is the wallet or purse you carry cash/cards in. :)
The economy is energy. The world is energy. Energy/oil is, in fact, the reason the world's population has grown like it has. That one is too hard to explain here but there are smart people here who I am sure understand this. Overlay a world population chart with the discovery and subsequent development of oil discoveries and you'd be surprised to see the correlation.
I agree with Nuttall. It's been a hard 7 years, hard to buy this at it's lows and then ride the storm....wasn't easy. But the chickens are coming home and I don't see a solution even if there is a recession caused from high oil prices. There's been little exploration and what new discoveries there are requires a higher commodity price to develop.
I'm rambling now but you get the picture. PNE is a bit of a laggard and I think because companies like TOU are throwing cash out to investors all day long now. But it is doing ok and will continue to do so over time.