RE:RE:RE:Ignore Guyana and Venezualalashing wrote: Yes but the work is already underway. USA behind it.
All the things you said are true but we cant ignore the obvious. North America is no longer free countries and free markets. Its upside down world. Illegal nonsense happening every day. Entire "pandemic" for instance. People beleive climate change is man made. People beleive we can all drive electric cars, no problemo. Elections are cheated like crazy. Add enter the crazies to call me crazy. Lying eyes, dont beleive em.
I've never seen more BS, corruption and outright stink on this side of the planet. Its not a free market.
Roscoe747 wrote: It will take Chevron 6 months to fix their fields enough to recover production, if Maduro doesn't interfere. Being a Chevron worker in Venezuela is risky. It is easier to buy WCS but there are American 'interested parties' in the Venezuelan oil.
The political diddling with oil supply can only last so long before Mr. Market decides to enact the Law of Unintended Consequences.
SA is out of spare capacity. RU will lose production from natural decline, loss of western expertise, sanctions and simply being russian clowns. The rest of OPEC can not meet their quotas. Underinvestment in capex has created a ~ 5 year delay in production increases. US shale will not return to drilling because 1 they have drilled off their Tier 1 acreage and 2 the inflated costs to drill Tier 2 acreage is too high 3 they cant raise capital with unattractive ROC 4 interest rates too high.
Oil will be very volatile but there will be price moves to profit from.
??? lashing pls stick with oil and GXE in particular. You are starting to sound more and more like an antifa member. FYI - WE HAD A PANDEMIC. Are we not very lucky that it did not prove to be as bad as it could have been? If this pandemic was actually worst, we would be in a very big picke with the amout of individuals who still don't understand that we simply lucked out (kind of since we stll had millions of dead around the world).