#OOTT The darkness over the FF industry is starting to lift. Investors are realizing that the TOTAL ENERGY pie is expanding and will continue to expand for the foreseeable future. 99% of Wall Street have no clue what life is like in the developing world. Electricity demand
#OOTT 2/ is about to go S curve. As the energy demand curve expands, every source of power will be tapped. Will renewables be the fastest growers-probably as its base is low. On a % base it will lead, but on an absolute base, unlikely as it can not scale. Witness Vestas
#OOTT 3/yesterday. Ugly earnings and market report. Why? Because steel prices are up and components are in short supply. Trick question. When did biomass and coal use peak? Answer; Not yet and still growing despite the Greenies effort. Can we produce power better? Of course
#OOTT 4/ there are better options than burning petrified cow dung which half of Africa and SE Asia use for cooking and heating. You want AC, Cloud farms, heat, light, escalators, etc. They all need power. Even the mighty Larry Fink is realizing he needs to adjust his campaign
#OOTT 5/ against FF. He now realizes that selling the stock/debt of FF does not extinguish the entity, it merely transfers ownership. If you want to change the culture of the entity, it needs to be changed from within-Like Engine No.1. Are FF execs aware of the
#OOTT 6/changing landscape. Yes they are and they are responding. Prepare for high energy prices for the foreseeable future. Renewables are not the silver bullet. OPEC+ will not be able to meet demand in 2022. US shale needs to ramp and it may need $100 to get them to commit.
#OOTT 7/ Good quality E&Ps will be the next Phillip Morris which performed like a champ even after it was shunned by the investment community. Cash flow wins in the end. @threadreaderapp unroll
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