OPEC agrees to cut production; oil prices surge, page-3

Good for SXY is the POO spike. I was getting worried about the press out of Europe regarding fracking/ CSG bans but I think now energy stability across Australia and AEMO will come out of the South Australian disaster and bans on CSG are unlikely to be sustained given the awful energy stability problems faced by the Australian economy.

Renewable energy was always unstable, infrequent, intermittent and excessively costly energy. On 7/7, $9000 per megawatt hour charged for wind energy in South Australia. Now a blackout for just a 1 in 50 year storm.

Oil, electricity and gas are stable, frequent and constant. Wind Energy is obviously a lot of wind, intermittent, unstable and infrequent.

Just look at IFN, I am surprised banks funded IFN as it has a lot of debt and the debt would have exhausted the company's value prior to tonight in any event IMHO but pls DYOR.

With people stuck in lifts, a major city blacked out, oil, gas and electric are IMHO Australia's future and it is good that SXY will be part of that mix. South Australia had a 1 in 50 year event. Surely renewables have got to have a backup for that. Or are renewables not supportable and do they fail disaster recovery plans, business continuity/ business disruption plans? Insurance companies will have a field day with non-oil and gas energy sources not to mention law firms, private equity raiders and insolvency practitioners IMHO but pls DYOR.

I mean there seems no contingency for renewables as part of the energy mix. 50% like the South Australian target may go the same way of the SA politicians that support such a crazy plan without any disaster recovery.

Senex's reserves in oil and gas just got a lot more valuable to Australia in the medium to long term.