RE:RE:RE:RE:Fake undertakingWhile I agree with some of your points I respectfully disagree with simply sitting back. Under Notley I recall CEOs of oil companies standing shoulder to shoulder with her many years ago to voice their support for her climate agenda. Over the subsequent years it was proven that it was pointless. It did nothing to stop the attack on Canadian oil by NGOs and our governments. Many of those NGOs actually received funding from Canadian governments that was then used to attack our very own energy sector and economy.
Consider also the propaganda machine that our governments and NGOs have unleashed on Canadians over the last 2 years regarding COVID. It was such that the majority of the population still truly believe the restrictions, mandates, gene therapy medication, and trampling of Consitutional law was and still is justified. Justified to the point where they no longer believe the health experts when advised measures and restrictions can be removed. Not to mention that most are not taking issue with the federal government persisting restrictions, even though every province is removing along with most countries.
Sorry but unless Canadians are made aware of the importance of the sector, that replacing with green dreams is not going to happen for a very long time (if ever) and that the sector remains a viable investment that funds and individuals should hold in their portfolios, I think there's greater risk that negative public sentiment will ramp up. It was already starting a week ago when WTI was $10 higher. I think the greater risk is that Trudeau and deputy PM Singh impose greater pain on the sector/investors to score political points.
I'm not advocating that the sector go to war with government. Rather that they look for opportunities to promote the value and need when/where appropriate. Sitting back and accepting whatever comes your way is never a smart strategy. E&Ps jumping up to appease government by increasing production is the equivalent of a battered spouse coming back to make dinner.
arizonabound wrote: The willingness of the energy industry to get into a publicity war with the Liberals should be avoided for 2 reasons. One, the vindictive Trudeau government would probably happily turn around and put a new tax on the industry. Two, why complain? Let the profits roll upwards as nothing gets done to fix the short supply. Ultimately the public will begin blaming those in power if the pain runs deep enough.
Most likely the worst thing for us investors would be for governments to recognize the damage they've done and reverse course. Of course, what's good for us is horrible for the voters as inflation ramps up and families are forced into poverty and the world into insecurity. But that's what the voters have asked for (in general) and so I say let them lie in the bed they've made. Nothing more comical than watching lefties whine about gasoline prices.
JMHO
AB