Energy ignorance on this board is rife6 Jun 2022 21:24
funstar49deluxe Posted UJO :
Price: 28.25
'Totally agree Persimmon, and with todays announcement from USA & Venezuela, the oil price should start to drop and stabilise. Spain and Italy will start to ship next week, with the rest of Europe following suite later this month. They have been unable to trade crude since the US sanctions, but these are set to be lifted right away.'
I posted on my twitter :
Venezuela will have 1.5 million BOPD exports available, after internal consumption, taking '5-10 years.' It'll require lots of labour, rigs, expertise, steel, refining. Venezuela has big debts an the oil fields aren't in good condition
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I then got a retweet of my tweet copying in the highly respect Dr Anas...with 110, 000 followers
Mark Skittle @BJamz2022
This is what Dr @anasalhajji has been saying on spaces for months. Easy oil it is not. The amount is not inconsequential, but neither is the capex/material required to extract that along with a timeline that doesn’t impact the next 3-5 years, min. Canadian heavy is the way #COM
https://twitter.com/BJamz2022/status/1533870108623269889?s=20&t=Z3zx6_HxQqkcDiQS_3bxyA