Target $18.72, page-2945

1. Freezing & below zero temperatures (in some areas, record lows) in many parts of the USA (including in parts of the Southern US!) & Canada will place great demands on fossil fuels for, essential, literally life-saving heat. A few areas will be -50C.
Demand for power, for heating, will obviously rise considerably throughout USA & Canada, probably raising coal & gas prices.

Many in North America also use oil for heating, so oil-powered heating demand will also rise (but partially off-set by many fewer people wanting to go outside/ drive their cars, in such very cold conditions).
President Biden has warned people to stay indoors, frost bite can occur in only a few minutes.

Fox News 22.12 said

"President Biden warned travelers to "leave now" or face canceled plans amid amassive winter stormsweeping the U.S. on Thursday.
The storm is expected to createrecord-low temperaturesfor Christmas weekend in many areas".
https://www.foxnews.com/politics/leave-now-biden-issues-dire-warning-monster-winter-storm-sweeping-us


Many solar panels would be covered by ice or snow, rendering them useless. Also, of course, there is much less daylight & much more cloud in winter, which reduces their electricity production.
Could people live comfortably, confidently, & with economic reliable heating, in areas that have normal, sometimes below zero Celsius winters, without fossil fuels?



2.oilprice.com A. Kimani 5.12.22 said

• Oil prices are currently down by more than 30% from their 52-week highs.
• Energy stocks remain cheap despite the major runup earlier in the year.
• Energy stock PE ratios suggest many companies are still significantly undervalued".

"...oil prices are down more than 30% from their 52-week highs while, curiously, the energy sector is within just four percent of its high. Indeed, over the past two months, the energy sector’s leading benchmark, theEnergy Select Sector SPDR Fund(NYSEARCA: XLE), has climbed 34% while average crude spot prices have declined 18%. This is a notable divergence because the correlation between the two over the past five years is 77% and 69% over the past decade.

According to Bespoke Investment Group via the Wall Street Journal,the current splitmarks the first time since 2006 that the oil and gas sector has traded within 3% of a 52-week high while the WTI price retreated more than 25% from its respective 52-week high. It’s also only the fifth such divergence since 1990".

"...David Rosenberg, founder of independent research firmRosenberg Research & Associates Inc,has outlined 5 key reasons why energy stocks remain a buy despite oil prices failing to make any major gains over the past couple of months..."
"Lengthy details in link".

https://oilprice.com/Energy/Energy-General/Energy-Stocks-Are-A-Big-Buy-Right-Now.html