This is all tongue in cheek but,
On the BYE micro side. We have 2 drills. Seemingly on budget. Each drill has hit two prospective oil pockets. It's looking good. Too good. I smell a rat.
Mean while on the BYE macro side. It looks like the oil boom might be over. https://oilprice.com/Energy/Energy-General/Oil-Bears-Burst-Back-Onto-The-Scene.html
(Source oilprice.com)
I can relax now, it's all good.
But looking in detail at the new revelation I am confused
The basic idea is that by increasing the cost of borrowing money. They have reduced oil demand. Hopefully oil supply will catch up and we can live happily ever after? But on the supply front why invest in a commodity which will be outlawed in 10 years and has no future, When seemingly, it doesn't even have a present?
If the US FED succeed in destroying oil demand and the oil price drops, the share holders advocating financial discipline in new oil infrastructure will be nudging each other saying "I told you so". We need to make hay while the sun shines and give profits back to shareholders while we can. Not invest in having a place in a future oil market, when the the oil market itself does not have a future. (in the green circular economy).
I don't know where we go from here. It seems that the "invisible hand" is giving two fingers to the US president. What can he do? Move to a command economy? That's going to work out well.
All disclaimers. Badger will be hiding in his hole.
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