Let's Have a Thread About Oil

[mr2mike]

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If coal starts to get crazy cheap, I want a coal furnace for my house.

/Severe off topic.

China has built a number of coal plants in recent years. So it's cheap for sure. More coal plants built than O&G plants built in Canada in the last 2 decades. 57.5% of China's energy is from coal. But we should hate on those Nat Gas producers in Canada.

I can't wait until O&G is hated for "gouging" people on prices in 10 years because demand trumping production and we're all hated on again. And the fact that climate change would continue regardless of any human activity.

At least at that point we'll all have Lambo money and sleep soundly on our yachts.

[Buster]

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The Oil Company that doesn’t want to be an oil company any more due to political pressure predicts that pulling out of oil is a good idea.

Quell surprise.

Them and equinor are just political investment entities at this point.

I dont know much about the oil business, but I could see this is the case from a mile away. There is much to be gained by BP talking down oil demand, with not much to be lost. It's not like what they say now will actually impact demand in the future.

If oil demand looks like the projections in that bloomberg article, it won't be because of technology marvels, its because the world economy is turbo fucked.

[mr2mike]

Agreed. BP has a lot of investment to gain in saying this. It can change and no one need be accountable.
Like how China has said its going to move away from coal. (But secretly, they're not)
Like how China still uses CFC's despite it being agreed upon to ban it worldwide.