RE:RE:RE:RigsOne of big problems coming up for energy coming up will be displacement or substution.
Take a country like Japan, who import alot of NG. They have a ageing population and a declining birth rate. Any future NG dmeand increases are likely going to be from EV's need more power from grid and displacing oil (gasoline).
With the kind of ng supply out there right now, NG needs EV's to keep taking off. That's the irony. WHere else is the demand for power going to come from....
When OPEC started doing it's cuts in Nov 2022..countries like Japan couldnt do nothing as world NG prices were so out of whack from russia/ukraine war....couldnt substutie any oil for ng.
Powering an ev at those prices made gasoline way to go.
Not anymore with LNG almost half of june 2023 prices and it is wintertime. Still high compared to north america but nothing like 2022 or even early 2023.
With NG glut shaping up in 2024, i dont oil can get over 80 until this unwinds. Interesting times.