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OT: World Politics

www.yahoo.com

World faces ‘staggering’ excess of oil by end of decade, warns IEA

The world will face a “staggering” excess of oil by the end of the decade, the International Energy Agency has said, as producers continue to plough money into new projects despite the shift to net zero.
www.yahoo.com www.yahoo.com

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If this happens, the cheap producers (Saudi's, Iran, Russia if they have the infrastructure left, etc) will still hold an advantage but I could definitely see the US just pile money into their shale industry as a strategic initiative to counteract a price decline. The Canadian industry isn't in the same place it was 10 years ago on that front either, with a breakeven price in the ~35 USD range, they can survive anything short of a complete implosion of the world oil market now. Though, investing in better upgrading/refining capacity would probably be smart.
 
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zeke said:
Vladdy panicking now.


View: https://x.com/carlquintanilla/status/1801567199389245795
Click to expand...



Funniest part is he’s not just asking Ukraine to abandon the “occupied regions”.

He’s asking them to hand over land that Putin unilaterally declared to be part of Russia, but then repeatedly failed to conquer like Zaporizhzhia & Kherson.

And of course, this is just a plea to give Russia the chance to fortify & re-arm in peace before resuming their efforts to conquer the rest of Ukraine.
 
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