BPT buy?, page-70

There is plenty of room for oil, gas and renewables in the future.
Yes renewables are taking off but this excess supply will be offset by reduced coal demand and an increasing world population.
The world population is also getting wealthier and are switching towards a western lifestyle which requires a lot more energy.

China has already gone through this process and there are still many other parts of China, India, Africa and places like Indonesia where people will move from extreme poverty to buying cars, Electrical goods and generally just consuming a lot more energy.

Oil companies have massively cut back on capex which means when covid 19 is sorted and the world gets back to normal there will be a shortage of gas and oil which will take at least 2 to 3 years for supply to catch up and hence oil and gas prices will react accordingly.

Bpt was totally oversold yesterday and will either bounce back pretty quickly or the corporate preditors will take it out as its currently at bargin basin prices.