European Energy Crisis, Foreshadowing for the rest of the world?

[ExtraSlow]

Chinese emissions don't count. Only Canadian ones do. It's that simple.

[sk8r3124]

LNG ship has sailed for us. On the global stage, North America supply is peanuts when it comes satisfying the demand globally. US growth has increased on the supply side due to massive built outs of the second wave. This means that filling any incremental global demand will come out of the Gulf, not the West Coast of Canada. Regulatory landscape has changed so much in this country, really hard to justify the risk on more mega projects.

[ZenOps]

Never thought LNG shipping by boat was a good idea myself. Its stupendously risky from a disaster standpoint. All they need is one yahoo with tank busting bazooka, and an entire port city could be wiped. You can't wipe out an entire city with solar panels.

China has the better idea, just build solar panels off the 100 coal power plant equivalent TsangoPo hydro dam and get a 1:1 energy cost where the energy is needed. Even if you only push out 40 coal power plant equivalent in solar panels, its still way more long term efficient than packaging and shipping volatile carbons.

Even storing and shipping relatively inert fertilizer is a gamble with fate.

[Yolobimmer]

I doubt we'll have an issue.

Is Canada like twice the size of Europe with 1/10th the population??

We'll be fine.

[mr2mike]

Nice! Everyone's panic buying coal now because of the nat gas prices.
Very green. Someone get Greta on the line. Or is she finishing up school now that's she's lost the battle.

[ExtraSlow]

People hate freezing to death. Which is really selfish of them.

[ZenOps]

Per head in Canada, we have stupid levels of carbons to burn. As cold as it is, there is plenty to burn.

[ThePenIsMightier]

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Nice! Everyone's panic buying coal now because of the nat gas prices.
Very green. Someone get Greta on the line. Or is she finishing up school now that's she's lost the battle.

Swedish teenagers are so 2019.
The voice of the next generation needs to be a Swiss SysGender teenager! They are holding an idol competition to select one, right now.

[Xtrema]

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They are holding an idol competition to select one, right now.

Isn't that just BTS or all Korean boy band?

<exit stage right>

[davidI]

Great memo from Howard Marks yesterday about energy and how Europe F'd itself by trying to be "Green" at home and exporting their emissions elsewhere (sound familiar, Canada?)

https://www.oaktreecapital.com/docs/...rsn=53b17666_7

[Buster]

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Great memo from Howard Marks yesterday about energy and how Europe F'd itself by trying to be "Green" at home and exporting their emissions elsewhere (sound familiar, Canada?)

https://www.oaktreecapital.com/docs/...rsn=53b17666_7

I'm loving these funds that are refusing to buy oil stocks. Makes me want to buy the funds that simply want to maximize returns.

[mr2mike]

Get on the bus, or get run over. Dead Dinosaurs still rule and are cheap.

[suntan]

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I'm loving these funds that are refusing to buy oil stocks. Makes me want to buy the funds that simply want to maximize returns.

Long term, oil and gas stocks are terrible. Problem is they pay employees too well.

[killramos]

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I'm loving these funds that are refusing to buy oil stocks. Makes me want to buy the funds that simply want to maximize returns.

Even funnier is all the ESG funds who have been dumping money in Russian oil companies who just lie about emissions and shunning Canada who are honest about it.

oops

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Long term, oil and gas stocks are terrible. Problem is they pay employees too well.

G&A is a rounding error to the vast majority of oil companies. A dollar a barrel isn’t changing shit.

[suntan]

What kind of Ferengi attitude is that?

[mr2mike]

Don't forget the unbooked costs of business in Russia, tolls on roads, new missing equipment needing replacing.

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Long term, oil and gas stocks are terrible. Problem is they pay employees too well.

Bahahaha a... *crying.... *jerking off with the heat in the house off eating KD.

Glory days of quick swings and big salaries is done Imo.
They're using inflation to keep salaries stagnant.

Can't speak for the service companies.
There has to be an upside to living in a camp by Fox Creek, slinging concrete bags in - 25°C.

[davidI]

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Glory days of quick swings and big salaries is done Imo.
They're using inflation to keep salaries stagnant.

Even before inflation big companies were offshoring a lot of general operations admin work (accounting, logistics, records management, etc.) to cheap Eastern European or Asian countries.

The Middle East has been hollowed out of Western expats with cheap Eastern Labour. Top executive and security positions are sometimes still western but it seems everything else has gone east. Made it infuriatingly frustrating to deal with service companies... a big reason for why I finally quit my job in Yemen.

The lucrative salaries/packages have moved to tech.

[suntan]

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Even before inflation big companies were offshoring a lot of general operations admin work (accounting, logistics, records management, etc.) to cheap Eastern European or Asian countries.

The Middle East has been hollowed out of Western expats with cheap Eastern Labour. Top executive and security positions are sometimes still western but it seems everything else has gone east. Made it infuriatingly frustrating to deal with service companies... a big reason for why I finally quit my job in Yemen.

The lucrative salaries/packages have moved to tech.

Not in Canada. IT salaries here are awful.

[ExtraSlow]

It is not the right part of tech.

[killramos]

IT departments and Tech are totally the same thing right?