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The Water Cooler
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Global Warming: the Fix Is In
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<blockquote data-quote="Ace_on_the_Turn" data-source="post: 3008182" data-attributes="member: 27417"><p>When you're wrong, you are really, really wrong. I spent 20 years working for Kerr-McGee (before Luke Corbett ran it into the ground). I own Devon and Chesapeake stock. I own six figures worth of Anadarko stock as a result of its buyout of Kerr-McGee. I've also invested in wind. Anyone who invest in the energy sector that does not own wind and\or solar is a piss-poor investor. </p><p></p><p>As for "oil and coal resurgence", you sound like you have zero idea what you are talking about. The simple fact is, we (the world) have the ability to produce more oil than the world demands. To be sure there will be more attempts to raise the price of oil, but as the prices rises, the supply will rise to easily meet the demand. There are billion and billions of barrels of oil that are not profitable to produce at $40, but let that hit $50 or $60 and the tap opens like a keg at a frat party. Most of the ME depends on oil and oil alone to finance their way of life. They simply cannot reduce production enough to move the market because other producers, like the U.S., can make up for any reduction with ease. </p><p></p><p>As for coal, coal has been dying a slow death for decades. It's not going to have a resurgence. No matter how many times Trump lies to coal miners.</p></blockquote><p></p>
[QUOTE="Ace_on_the_Turn, post: 3008182, member: 27417"] When you're wrong, you are really, really wrong. I spent 20 years working for Kerr-McGee (before Luke Corbett ran it into the ground). I own Devon and Chesapeake stock. I own six figures worth of Anadarko stock as a result of its buyout of Kerr-McGee. I've also invested in wind. Anyone who invest in the energy sector that does not own wind and\or solar is a piss-poor investor. As for "oil and coal resurgence", you sound like you have zero idea what you are talking about. The simple fact is, we (the world) have the ability to produce more oil than the world demands. To be sure there will be more attempts to raise the price of oil, but as the prices rises, the supply will rise to easily meet the demand. There are billion and billions of barrels of oil that are not profitable to produce at $40, but let that hit $50 or $60 and the tap opens like a keg at a frat party. Most of the ME depends on oil and oil alone to finance their way of life. They simply cannot reduce production enough to move the market because other producers, like the U.S., can make up for any reduction with ease. As for coal, coal has been dying a slow death for decades. It's not going to have a resurgence. No matter how many times Trump lies to coal miners. [/QUOTE]
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