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Author Topic: Will the crisis kill the oil industry & save the climate?  (Read 238 times)
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« on: April 01, 2020, 10:15:44 PM »

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« Reply #1 on: April 01, 2020, 11:18:46 PM »

 crude  oil now on the market , is down to about 0.1  GBP  per liter   whistlie

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« Reply #2 on: April 02, 2020, 06:42:58 AM »

I didnít click on the links or read the Gruniad article. However, low oil prices will always be a thorn in the side of environmental progress. The case for an EV is much stronger when diesel is £2 a litre than £1 (for example).

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« Reply #3 on: April 02, 2020, 06:47:37 AM »

I didnít click on the links or read the Gruniad article. However, low oil prices will always be a thorn in the side of environmental progress. The case for an EV is much stronger when diesel is £2 a litre than £1 (for example).

That's part of the story.

Here's another part: when oil prices are low, oil companies have no spare cash, and their lobbying activities cost a lot of money, so lobbying may get curtailed. Oil production gets concentrated in a smaller number of countries, meaning that more countries can reduce oil consumption without having to fight a large domestic industry.

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« Reply #4 on: April 02, 2020, 08:15:46 AM »

What will kill the oil industry is lack of investment. Even before the virus the long term outlook for investors was looking unpredictable.  The latest swing to total loss making has made investment a bad idea as of today but making it even more unpredictable for the future which is the time scale required for these investments.

 The advantage lies with RE now as the last 10yrs have proved it works and has a very predictable return which is now the equal or better than the FF industry.

Same for gas which is of course connected to oil.  The world is awash with it at prices too low for the extractors but if the prices increased to economic levels then it will be a boost to the RE and quantity will plummit. Heads they loose,tails they loose  Grin
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« Reply #5 on: April 02, 2020, 09:03:32 AM »

I have just retired from 30 years in the oil industry. It was fantastic & went past so quickly, we had a blast and made fortunes. IMHO you won't see the O&G industry gone in the next 50 years. You will continue to see RE/O&G ratio shift more towards RE and hopefully at an accelerated pace. A 100+ year old machine doesn't get dismantled in the blink of an eye and all those turbines and bearings need fed and will continue to do so.

With the Saudi's & Russians trying to kill US Shale by opening the taps and the effects of Covid 19 on world industry oil demand there has been a perfect buying opportunity for those who would like a 15% return. Its all risk based, pay your money take your chance. Personally i'd invest like hell in a decent battery central storage facility pod design and the associated RE generation but it doesn't seem to be quite there yet in a format i can invest in.

I am in a number of solar farms and intend to increase investment in these as time goes, they pay 5%+ which is fine but not comparable to the oil return in any way or form.

The whole oil game is rigged, the money has been made for this scenario on a macro level, prices will rise.
« Last Edit: April 02, 2020, 11:38:03 AM by pantsmachine » Logged

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