you answered your own question
Let say prices may stay this high for 3-5 years
lets call it 8 years, we will be guaranteed a world recession or forced change of behaviour
but Woodside will only enjoy 4 years worth of gains, assuming Scarborough is online in 6 years time
so better to sell down their share now and lock in some of the premium in the market, than bank on it for decades to come.
oil goes in cycle,
I can guarantee everyone here, if oil price stays this way another year,
US will be the first to start selling drilling rights on federal land.
oil is a commodity, the time it takes to go online is ~5 years, when it does come online, prices go down and the cycle repeats
the world is not short of oil, but it is short of business willing to dig it out unless the price is right
you answered your own question :)Let say prices may stay this...
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