ConsequencesWhile I have some sympathy for those who can't afford the repercussions of $90 oil.
I respectively say to you that there was no concern for oil companies or their investors
over the last 5 yrs when oil was in the tank. In fact, the same people who are crying now were fine with the total demise of the industry and couldn't care less about investors
losses.
Now because of the hatchet job done to the industry, there is a structural shortage of
supply. Listen, there are consequences to the anti fossil fuel policy that gov'ts have
been pursuing. Now that those consequences are rearing their ugly head, don't
blame the oil companies or their investors for making money.
Europe made a deal with the devil to get cheap oil & gas from Russia instead of
investing in more expensive developements in the North Sea and elsewhere. Lets
get Russia to supply us on the cheap so we can spend our money on renewables. We
don't like fossil fuels but we like Russia's because they're cheap. Hypocrisy x 10.
As I said, when you screw up big time in life, there are deadly serious consequences.
Gov'ts everywhere want to paper over their mistakes by raising interest rates in an
effort to squelch demand instead of admitting their own damn culpibility in creating
the whole fiasco to begin with. The only proper way to fix this is to encourage supply
growth, certainly not to punish the economy with ever increasing rates. That is an
a ss backwards way of attacking the problem and for what ever gains you may get,
you will be faced with even more problems than you started with IMO