RE:RE:The Chess Game Continuesautofocus111 wrote: Ex I agree, with the caveat that even in the event 'peace' is reached fossil energy prices will remain high for many months. Energy production policies and more importantly the lack of investment in new production over the last several years practially assures supplies will remain constrained. The only thing that would cause prices to tank short-term is lower demand from a global recession.
Current forecasts are for US production to rise this and next year despite what Biden is doing. This forecasted increase is largely due to the high oil prices.
The last forecast I saw recently was for US production to rise by about 700K/day to 12 million per day and a further increase next year to 12.6 million per day.
In terms of an earlier comment about ENB, most of this production increase is expected to come from the Permian and as part of the Ingelside deal, ENB got an underutilized pipeline from there to their terminal.