I am enjoying myself peeps24 Nov 2021 08:24
Someone just asked me on twitter if we will see 100 Dollar oil.
I go with 90 actually, but we will see 100 next year imo.
I can not wait for the OPEC meeting. The direction that Brent is going and the price of gas in the UK is 110 % proving my point here re fossil fuels which at this moment in time are our main source of energy. I see no wind outside my window today so that's the wind turbines sitting idle. Our country needs energy security and less reliance on imports.
My concern is April of 2022. People will have credit card bills to pay from xmas, increased fuel bills, rising inflation, increases in taxes ... Poverty will hit home big time. And what will the UK do because interest rate rises would only make things worse. Also our country still has to pay for covid. Then we will enter the summer and everyone will want to travel abroad..me being one on three planes to the Maldives and extra trips to Devon. Fuel consumption will rocket.
So, I see Brent continuing to rise as the lack of investment in to fossil fuels and the majors returning money to shareholders continues to bite. OPEC inventories are dropping. When the oil becomes more scarce in several years time the price will continue to rise...200 Dollar Oil ?
Wressle for me will be an absolute goldmine. I anticipate a share buy back as what else is David going to do with all of those millions ?