vtsnowedin wrote:I believe we will have peak 'affordable oil' in 2022 curtsy of the Biden administration.
“…the IEA estimates that the oil industry needs to invest $365 billion per year. Last year, global capex fell to $350 billion and has not rebounded in 2021, and probably won’t in 2022 either. If capex stays stable at current levels, global oil supply will likely roll over around 2024 and then decline sharply thereafter.”
Morgan Stanley research note, quoted in Oil & Gas Journal
AdamB wrote:
Now, you start raising my rate for a kWh, and NOW you've got a fight on your hands!!
vtsnowedin wrote:AdamB wrote:
Now, you start raising my rate for a kWh, and NOW you've got a fight on your hands!!
Electricity prices are up 6% and climbing under the Biden administration.
Revi wrote:Peak oil is here.
Revi wrote:Price for heating the average house in Maine is going up by about $250 per month, and they just announced that electricity is going up by 80%. It's going to be a long, cold winter for most people around here.
Plantagenet wrote:Chinese newspaper reports that Joe Biden begged Chairman XI to release oil from the Chinese strategic oil reserve during their phone call summit
First Biden was begging the Saudis to pump more oil and now he's begging the Chinese to release oil from their strategic reserve.
Biden sure seems to spend a lot of his time begging for more oil, considering he is supposedly against oil.
Please Chairman Xi, please release some oil for me. I'll do anything you ask if you'll only release some oil.....
Cheers!
Revi wrote:Call it whatever you want. Europe is in big trouble right now with the price of natural gas.
Revi wrote: We have about a 30% jump in the price of everything. Electricity is going up here as well. I think we hit the peak in November 2018. It all gets interesting from here.
Biden sure seems to spend a lot of his time begging for more oil, considering he is supposedly against oil.
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