Quote:
Originally Posted by CaptainCrunch
The Saudi's also recently got busted for massively understating their emissions
https://www.bloomberg.com/news/artic...rbon-footprint
Beyond the low environmental standards of Russia and SA and the use of tankers to bring Oil over the ocean, these are two regimes that really shouldn't be getting huge revenue bumps because Canada and the US are following some idealistic foolish crusade. |
They omitted their downstream emissions, but I largely buy into the idea that their upstream oil production is near the bottom globally.
I think people are overestimating how much or how quickly global demand will go down. Last year really illustrated how much demand is sticky even when the OECD have their citizens largely sit at home and drive rarely. Global aviation down huge, lockdowns ect, demand down less than 5%.
Biden impairing shale is probably going to be a myth more than reality. It's mostly going to be investors forcing companies to generate a return rather than grow at any cost that will cap US growth.