It must be proper lovely...21 Oct 2021 17:05
... to be David and just banking that money every day from Wressle. I'd be up early with my calculator excited.
I do like Prince Abdulaziz Bin Salman too , Saudi Arabia's Minister of Energy, he is a fascinating man. So calm and in control. Strange to think we have The White House pressing OPEC for more production. I do not blame Prince Abdulaziz Bin Salman for not bowing to the request. I thought Biden was off of fossil fuels.
Then we have Putin. To be fair he has agreed to all of his longterm contracts. The EU an UK did not see this coming and spot prices are not helping either.
Of course oil prices have risen, but no where near as much as gas, coal, or LNG. If these markets were treated like OPEC+ , and the oil price, then they may be in a similar position and we may not be heading for an energy crisis. Therefore I guess Prince Abdulaziz Bin Salman has the correct formula.
Oil is actually cheap compared to gas coal LNG .. the question is how high will it go and where will the tipping point be ?
For now we have a restaurant with all the tables filled. But only one waiter available. Resumption of flights etc have caught the global economy out. Many factors playing out here in the UK with Brexit, Covid, lack of investment in to fossil fuels...inflation..
One thing I do know is that our Dave is in for delivering some really impressive profits from Wressle as for now the oil price is only rising.
Lovely stuff.