Vermilion Energy Inc T.VET

Oil would be at 150.00 not for SPR release

[DukesMtl]

SPR winding down in just over a month. Oil is going up north of 150.00 come winter. Governments unwilling to do what is required and pump more oil & gas because it goes against their Climate change agendas.

Europe is instead switching from gas to coal because burning coal is good for climate change!

Flakiest Libtard governments are in power and thanks to their flakiness,,, oil & gas will continue rising along with energy driven inflation and rising interest rates to follow = Massive depression but VET will still be making uncharted cashflow.

You need to know what is going on and be in front of the ball not behind it.

[stockmarket1]

We've been hearing rumblings this past Spring about WTI reaching heights of  $150 -- $200 this winter. Whether it pans out is another story. Time will tell.  Mid term elections could tell some tales too. 

[JohnnyDoe]

western governments don't actually pump oil. Corporations do. And they're limited in what they can pump for a variety of reasons, chief among them is long term underinvestment. As for those countries with national oil companies, Biden went begging for more oil and got a soup kitchen response "no oil for you". They're in control and they're not likely to cede control. It

[DukesMtl]

Ok but why didn't Biden ask American & Canadian oil producers to ramp up production? We have so much oil & gas here in our backyards. 

[masfortuna]

It's bad for the optics.  They were both elected on a platform "to eliminate" our dependance on fossil fuels.  It would anger a certain section of their voters. So as long as it is not in Canada or the US they are fine with it. Not sure how drilling in Kazakhstan is better for the environment than drilling in Alberta.

[Quintessential1]

They did ask and they are ramping up.  At least Canadian producers are but they cannot increase production like turning on a tap.  It takes time. In this interview Alex Pourbaix, CEO of Cenovus energy explains just that among other things but the answer to your question lies at the end of the interview. https://www.bnnbloomberg.ca/video/we-are-the-definition-of-energy-security-cenovus

[JohnnyDoe]

I don't think we'll ever see Cdn production ramp up significantly. I think the ratio of takeaway capacity to production is going to be relatively stable. Increasing production without the increase in takeaway capacity results in the widening of the WCS discount. Until the political jacka$$es agree to and then actually build takeaway capacity we don't need to nor should we pump more oil