[burn_this_city]

The world has changed in the last few years. O&G investors don't want growth, they want money returned to shareholders. Everywhere is facing the same pressure, reduce cost, maintain production, and give us our money back.

They also want production with no GHG emissions, or a plan to achieve that by mid century at the latest.

Companies will grow incrementally over the next few years, but they aren't going to plan large expansions, because the market has told us they don't want risky growth.

There is still going to be a ton of work over the next few years and beyond. If oil pops due to lack of investment there will be a mini boom while everyone races to restore production and tap their low hanging growth prospects.

Beyond 2030 I think the emphasis will be on GHG projects to get us to zero emissions or competitive with the best in class.

The industry is looking at a whole bunch of future opportunities, geothermal, blue hydrogen ect.

I guess I don't share the same bearish outlook over a pipeline that even Trump himself couldn't get done in 4 years. That we arguably don't need for at least 5 years maybe forever.