BPAQF - Macro Dashes: There Is No Oil Shortage
- There is no physical oil shortage, only supply disruptions and market manipulation by OPEC+.
- Oil will see "panic pumping" coming to multiple nations soon, for fear of stranded assets, driving oil back to $60-80/b in the next year or two.
- Refining is a different story as there were permanent closures during Covid lockdowns that will never come back.
- The fossil fuel investment plays are in refining, biofuels, carbon capture and natural gas pipelines - not primarily oil producers.
- Remember, anything good for fossil fuels, is better for clean energy.
For further details see:
Macro Dashes: There Is No Oil Shortage