RE: Frustration6 Oct 2022 16:35
All_at_sea: I was thinking of sauer earlier- he's probably looking in from a distance at these crazy prices.
I consider folks are 'botting the market/ shorting to recoup losses and not actually investing, at least for the longer term. esp. with a threat of recession with the higher int rates and high/ pinched energy supply. All these tides are giving us the pip. The rate rise might have slowed demand inflation but deffo not supply inflation.
Lack of support for u.k o and g is of two aspects, first the above and the second extra enviro legislation and lessened pension (ii) interest esp. in oil/ coal (lumping cleaner gas into the mix) but more renewables in esp. here in Scotland. Plus a lot of the newer fund managers are more environmentally aware (and get point for the tick boxes) to greener funds. As for soverign funds, I think of Norway which has more less quit petro and maybe others too.
I asked a local in Invergordon- the u.k rig park, why so many rigs around. She said green(er) legislation has put off investors and hence drilling activity even with this high prices, which pre-covid led to much more drilling activity in general.
Just my take- passes the time which waiting for the next spike. atb