Apologies to the novelist, Upton Sinclair, for my borrowing the title to his book Oil! The book is loosely based off the real-life oilman, Edward L Doheny, a man who knew how to get things done. The movie, There Will Be Blood starring Daniel Day-Lewis, is based on the novel, so in a loose sense, the Daniel Day-Lewis character is a very watered down Doheny.
Anyhoo...we have an Oil! situation developing in Venezuela and Nigeria. It is clear to me that before war is declared worldwide, the US is securing their supply chains. In the Senate they're closely examining shipbuilding, with Ted Cruz involved, and the White House is securing oil.
If you are investor in renewables, my advice is to get out of that as it will all collapse as soon as this war goes fully kinetic. Wind and solar relies heavily on China, and China is going to be rubble, so good luck with that. As well, oil will be cheap as Venezuela and Nigeria will go back to pumping as they should, the volume from which will bring down the cost of oil, making renewables uneconomic.
Anyway, Balkan Mapper has an interesting video up:
No comments:
Post a Comment