The idea that the very real environmental costs of EV input extraction somehow mean the net impact is higher than oil extraction and use is extremely funny.https://twitter.com/EnergzdEconomy/status/1395753299958276109 …
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One interesting thing is that it's pretty easy to imagine a scenario where cutting back on oil production/E&P could actually be good for RoACE because they don't have to go further afield into more hostile places to keep reserves as high - focus on easy extraction instead
gang for becoming anti-capitalist de-growthers I suppose, impressive ideology shift there.
Yeah I mean this is basically what Javier is saying, one option is just to stop new e&p capex and focus on keeping the margins you've got
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whoops was being excessively maximalist in that reading I'm sure he didn't literally mean 0 out capex
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Thing is even at $150 oil, if demand is falling in an inelastic way, not sure those assets actually work at scale.
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