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With 2022 Behind Us, 2023 Could be More Unpredictable
We saw the prices of Natural Gas and Crude Oil hit record highs during the year. We ended the year with oil about the same and natural gas is up about 25%.
https://bit.ly/3vlBluO
Energy commodities look to be even more unpredictable in 2023. Based on different reports, there are several reasons oil and gas companies are not drilling as many wells as we need. Partly because ESG is preventing banks from lending to oil and gas-producing companies. Partly because of the shortages of supplies, equipment, and personnel. And partly because we have a government that repeats its mantra of no more oil and gas.
https://bit.ly/3jyNAl0
Recently, one of my favorite energy writers published a really good article linked below. In the article, you can read that the most outspoken CEO of a publicly traded oil and gas company said the reason drilling and production are not growing like before is “Investor pressure for higher returns”.
https://bit.ly/3jwg0MC
Thank you for watching.
#recession #inflation #stagflation #hyperinflation #energy
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