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Originally Posted by Street Pharmacist
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Those in the O&G field would probably know better, but I wonder what happens to these plans once the inevitable oversupply happens. If the best cure for for high energy prices is high energy prices, then surely a supply glut of in the forecast. Europe made strong climate goals when energy costs were low, and are now looking at even stronger goals when process go higher. Could that change if prices go low again?
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Can't speak to gas, but current capex in crude is not sufficient keep production flat. The rig count is going up, albeit much slower than in the past.
All of the companies seem much more disciplined when it comes to spending and their balance sheet in 2021.