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Apologies. This is the correct link.
https://www.reuters.com/markets/europe/five-countries-seek-delay-eu-fossil-fuel-car-phase-out-document-2022-06-24/
I feel the vast majority of the public do not fully understand and appreciate the gigantic task and cost that moving away from oil presents.
I also wonder whether Western govt’s have a handle of the magnitudes involved.
Oil is here to stay, it is far too integrated into the modern way of life and the way of life that 70% of the world’s population aspire to.
I just hope we (BP, HMG et al) don’t blow holes in their budgets chasing the green dream.
Of course green energy will play a part, but that part is limited.
This link was posted on the HBR bb.
https://www.youtube.com/watch?v=wDOI-uLvTnY
Of course there are storm clouds on the horizon but do I think BDEV shared will be any cheaper than the covid lows?
Unlikely. Very unlikely.
Hence my top up with further funds set aside for any armageddon sell off that may or may not occur.
Added more myself for the long term hold.
Today’s share price drop seems to have come from nowhere.
Have to admit that I didn’t know this.
https://twitter.com/iea/status/1537344487319560192?s=21&t=ICqASNkX0hhDy5G49j8Oeg
Nice to see the company doing “something” with the extra cash it is generating.
IF I were running HBR then I’d start first with a buy back and perhaps follow it with another round or two of buybacks before looking at a divi rise.
Hopefully they are laying the foundations for this.
The market is certainly uneasy about Simon Arora leaving but fundamentally as mentioned on this BB the company is in a strong position.
If we are heading into a recession companies like B&M will be a natural choice for many.l more.
It won’t, nor has it ever been a “one stop” like a major supermarket can be but its customers (and I include myself as one) know the type of branded products it sells at a considerable discount to the major supermarkets.
Supply chain issues don’t really bother me as the company has shown before that it can buy “job lots” at a big discount and sell them in its stores.
Anyway, added more late afternoon.
I think institutions and many PI’s are waiting on the sidelines to see the next couple of trading updates and the impact of the WT. The ultra cautious are waiting for the hedging prices to finish.