RE: Trust is Returning24 Feb 2021 13:57
GGG. I have previously informed all on here that Riyadh True Break even is $68. It is not in Saudi interest to pump enough Oil to drive the price down to win Market share in a long term declining Market. Secondly / if all Exploration Stopped today / Due to Natural Oil depletion even at 3% Annual Rates / by 2035 the World would only be able to produce 45mbopd. Some plays deplete 6-10% and greater. Factor those Figures in and it gets scary. IMO we are more likely to see $70 than $50 again.
POO is a great Vehicle for Governments to claw back Taxes and redeliver to pay for infrastructure and Social Care costs. Obvs you and we all know this. Over time (Decades) Governments will re attach claw back via Taxes to other industries and diversify this attachment.
U.K. is 99% sufficient in North Sea Oil and Gas but low Capex 2020 has put that under pressure.
I am stunned (STUNNED !!!) by today’s i3 SP on AIM. Add more then.