Fenders thank you for starting this thread. @EricL very valid points, India china are both building more and more huge strategic reserves, if the govts were to think that oil dependancy is there only for a few years, they would rather invest that money somewhere else so oil is to stay and keep growing in demand for 20-50 years in my opinion. Long term it will decline as tech matures and renewable takes over.
Will you guys be kind enough to help me understand this tweet: "The supply side of the equation for the last half decade has benefited from mega projects from the $100 oil period. The people that got it wrong the last downturn got it wrong because the mega projects took time. That ended last year." ? What ended last year?
Coming back to the topic, Let's assume oil starts trending at ~$70 I have no insight into how easy is it for US majors to ramp up oil production and crackers to returns, a day? a week? a month?
How much u.s majors will benefit if oil is trading $70+? From both of your inputs it seems even if Oil trades at $100, golden days of u.s. oil majors are gone.
Will you guys be kind enough to help me understand this tweet: "The supply side of the equation for the last half decade has benefited from mega projects from the $100 oil period. The people that got it wrong the last downturn got it wrong because the mega projects took time. That ended last year." ? What ended last year?
Coming back to the topic, Let's assume oil starts trending at ~$70 I have no insight into how easy is it for US majors to ramp up oil production and crackers to returns, a day? a week? a month?
How much u.s majors will benefit if oil is trading $70+? From both of your inputs it seems even if Oil trades at $100, golden days of u.s. oil majors are gone.