Do you rip off your shingles before finding out if new ones are available? It’s painful to watch those that do

To anyone that pays attention to the energy world with any objectivity (i.e., not searching for villains), it was obvious that the world would one day run into a hydrocarbon supply crunch. This didn’t have anything to do with a rapid energy transition; it had to do with a massive black hole in global upstream capital expenditures. The world’s oil consumption needs, particularly new growth in demand, had been met by huge international projects that took half a decade or more to get off the ground.


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