Oil Investors Enjoy $128 Billion Bonanza By Defying Biden's Orders
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
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ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
U.S. oil companies have prioritized shareholder returns over future output, resulting in a $128 billion windfall for investors
Dan Pickering, Chief Investment Officer of Pickering Energy Partners (PEP), discusses U.S. production and M&A after a “funky and weird” 2022 and sees the U.S. shale boom settling into a “shale business.”
At a recent energy conference, E&P leaders also warned that the energy transition needs to slow down or the U.S. will face European-style disruptions.
High prices have predictably led to production booms that end in busts. But in this cycle, the focus has shifted from production growth to cash flow growth.