asg70 wrote:REAL Green wrote:This glut is mainly an economic condition based upon a demand shock.
The glut is an economic condition based upon coronavirus. And before that there was still ample supply thanks to technical innovation in fracking. But hey, you want to live in a reality distortion field so nothing I say will change that.
AH, you forgot with the financial help of repressed rates and the massive liquidity assistance of the central bank asset bubble. Ample supply that is from malinvestment does not mean high value supply of oil that can power society longer term hence peak oil dynamics. Fracking is a retirement party and renewables are an additive that show stalling penetration at around 50% primary power because of the huge costs to deal with on-demand needs and intermittency. OH, and all that techno optimistic noise about cost and tech ahead to deal with renewables downside is just noise until it is real and applied. So, who is in the reality distortion field?