Post by
Anschutz on Mar 05, 2021 3:39pm
Saudi minister's comments yesterday
Ok... random Friday afternoon thought...
Anyone catch yesterday's live stream of the OPEC meeting? Specifically when they opened the lines to reporters? I watched and there is one question that I keep reflecting on today. Essentially the question posed to the Saudi minister was about their truthfulness about the country's remaining oil reserves. The minister was visibly upset by the question and refused to answer, instead deflecting to Saudi Arabia's credibility and stewardship over the oil sector.
Periodically in the past I would occasionally come across a report, article, etc, suggesting that the fields in Saudi Arabia are on their final legs. Wouldn't it be interesting if we find out down the road that all the hype about moving to green tech is because the world is actually running out of oil? Perhaps what we're witnessing is a move by western democracies to transition off oil and gas before the music stops and countries like Saudi Arabia can no longer hide the impending shortage.
No doubt the election of Trump four years ago threw a wrench in the WEF's plans to move to renewables. Perhaps we're actually now in a more precarious place because of the delay moving to transition.
Comment by
Anschutz on Mar 05, 2021 4:48pm
We need to see the market push CPG up over $6. If this can occur before March 19, I see a tranche of 280,000 shares short that will need to be covered. Not a huge amount, but good to see none the less.