RE:RE:I'm starting to see a setup happening ........Here's a little more "food for thought" nikolaos , for all the political "jawboning" regarding trying to talk down oil prices , neither the Democrats , Libtards or NDP want lower energy prices ........ why you ask ? For starters , politicians don't buy their own gas , you pay for it with your tax dollars . Plane tickets (business class) , you pay for that too so high energy costs don't concern them . Consider this , how likely are you to spend $75K or $80K for an EV when gasoline is $0.85/liter or $1.99/US gallon ? Not likely but hike those prices to $1.95/liter or $6/US gallon and people start to think about it .
Here's a fun fact , last year in Canada 1.6 million new vehicles were registered , of that 1.6 million only 83,000 were EV or hybrids . The Canadian government yesterday GAVE another $1B to Ford/GM/Chrysler/Kia for EV developement but again , it was YOUR money , your tax dollars . They could make 1 million EV's tomorrow but the charging infrastructure is not even planned let alone under construction and the biggest piece of that equation , WHERE IS THE ELECTRICITY COMING FROM ???? These idiots are building corrals and putting out tenders to buy horses but nobody ordered the wagons which take a decade to build or secured a supply of feed .
Politicians know that O&G will be required for decades and they quietly cheer on these high prices which ensures these robust profits and FCF will continue for years , there is no silver bullet in the chamber . Biden and Trudope WANT you to suffer as they try to herd the sheep toward EV's and Chinese solar panels . Of the hundreds of O&G (6 digit wage) jobs that have disappeared I can't point to one person I know that has been retrained or has secured one of these phantom , good paying green jobs the left keep promising .
To summarize , there will be no intervention , there will be no policy change to encourage increased O&G production . Companies like BTE , MEG , etc will be rolling in cash for years to come , its a consequence the ESG warriors never counted on and the lure of those profits will overwhelm the green distaste for the industry as greed calls their TSFA dollars . Again , once the first domino goes over , the chain reaction will make the tech stock rally look like a warm up . O&G is the new gravy train , either get on board or be crushed by the stampede .