Feels like we’re drinking the Kool Aid simply because the logic is so basic yet the producers have decoupled from the oil price. I think partially because the futures dip under $0 per barrel frightened the heck out of investors (or perhaps punters) thinking it was about alternative energy and not a rollover / storage issue.
Again, the demand curve is so simple that we’re seeing a confluence of forces that could become unstoppable. I can see Woodside spewing cash for years to come as this gets a wriggle on.
Feels like we’re drinking the Kool Aid simply because the logic...
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