RE:RE:Nutcase I fear that Eric isn't cmpletely honest with us peons.
First of all, the Biden administration is holding the US Oil E&Ps down, less drilling on gov lease land, higher royalties, more green funding, more regulation.
My take is that they could be producing between 2 to 4 million BBls more per day than they currently are. And if a different administration comes in next year, with a US government policy more oil company friendly... then everything changes. The Saudi's would no longer be able to cut oil output for fear of losing mkt share.
But here's the even greater but, refineries are running flat out to keep up with demand. If something breaks, and it always does, and refinery through put drops, then oil will start to backup. Ships will not be able to unload as storage will start to fill up and then... the price of oil will drop.
On natgas, I know that TC Energy's Coastal GasLink Pipeline is and I quote from TC Energy Anticipated in-service in 2023
long BIR ARX TOU AAV and only very small position in oil