He was mostly correct and doing great right up until the conclusion.Le Redditeur wrote: ↑Sat May 14, 2022 4:49 amIt's not only the economic sanctions on Russia, if Wendover Productions is right:
Oil companies are not having one last "party" of profit taking, by limiting production, before wind and solar replace them.
Oil companies (specifically those here in the US) are halting development and production because they know the end game of Leftist fuckery is the total nationalization of the oil industry. Why spend money on infrastructure and equipment when it will all end up like those Mob casinos in Cuba after Castro came to power? Might as well take all that cash as profits now and get while the getting is good.
The oil industry isn't stupid. It's one of the last areas in Corporate America where the leadership still has some intelligence. They know that both the government and culture are actively hostile against them. All it takes is one politician with a pen to shut down everything.
(Ironically other industries like restaurants and movie theaters got a taste of that with the coof lock down. "Aww, this business is your livelihood? Too bad! The state has decreed it closed!")
Everyone involved knows how this plays out.
-Price Controls
-Rationing
-Nationalization
Why invest in something if the state can steal it on a whim?