RE:April President's Report Yasch22 wrote:
Unfortunately most of the rest of the letter is basically another go-round of "poor little rich oil&gas producers unfairly restricted by left-wing governments."
The good stuff is in the first paragraph, and includes another tough -- and fair -- critique of the most important political problem for Alberta gassers. To wit, the way TC manipulates storage & AECO.
They are rich because progressive politics made them rich. Energy companies don't want the demand destruction we are facing today. They want $60-70 oil and $3 gas. You have got to see the problem there Yasch.
Europe is heading for a recession worse than the GFC. They have spent 10 years worth of Energy consumption in 1 winter. None of their industry is globally competitive anymore. Emissions are up globally and will be for several more years, all for no progress what so ever by creating energy insecurity and this has nothing to do with Russia. Now we want to put pressure on a tyrant, but we can't without putting several trillion worth of damage to our own economy and adding more fuel to record inflation because we have restricted supply.
Canada should be benefiting from foreign investment, the dollar should be offsetting inflation, and capex should be flowing to meet the supply shortfall which is acute at this point. Instead of supporting industry, you have our leaders going to far reaches of the world where pollution, flaring and environmental protections are nil. All because we want to virtue signal and have the emissions not be on our ledger., while global emissions rise.
I care as a Canadian, because the destrcution of wealth is pretty sad. We should be taking marketshare now that it's needed and fueling growth through real ventures, not just through real estate speculation and definitely not begging OPEC. It's just bad politics. Let's just keep trying more SPR releases lol.
I guess I have these policies to thank for early retirement. schadenfreude