Very thought provoking, Sandro, especially as proponents of that theory are often treated like moon landing deniers or worse. Personally, I think a big shoe to drop will be UK N Sea oil. It saved Thatcher in the early 80s as she reformed the economy, and helped Britain become a half-way prosperous country through that decade. A change of govt now, plus a revealing of the need for energy security will make people realise that developing the fields is an absolute no-brainer, even if it’s not a panacea for the UK’s myriad problems... You can play the N Sea through Harbour Energy (HBR LN), which is also exposed to Argentina.
The North Sea is not a miracle cure for Britain, but energy security changes the way people value domestic production. Harbour is definitely an interesting way to express that view.
"As a subscriber and fan in Korea, I deeply resonate with your insights and find your materials incredibly educational. The future of offshore drilling you describe feels to me like a massive tsunami visible from afar—a wave so colossal it seems to stand still or move in agonizing slow motion. I cannot say whether that tsunami will bring a windfall of wealth or a literal disaster when it finally reaches us. Nevertheless, I intend to savor the joy of investing and embrace this long wait with a sense of leisure."
Thank you. It means a lot to see this resonate all the way in Korea.
The tsunami is a great analogy. Offshore does not arrive quickly. But when it does, it moves with force. The problem is that most people give up before they ever see it.
Offshore will bring a lot of oil to the market. And that will push energy prices down. And cheap energy means prosperity.
Very thought provoking, Sandro, especially as proponents of that theory are often treated like moon landing deniers or worse. Personally, I think a big shoe to drop will be UK N Sea oil. It saved Thatcher in the early 80s as she reformed the economy, and helped Britain become a half-way prosperous country through that decade. A change of govt now, plus a revealing of the need for energy security will make people realise that developing the fields is an absolute no-brainer, even if it’s not a panacea for the UK’s myriad problems... You can play the N Sea through Harbour Energy (HBR LN), which is also exposed to Argentina.
The North Sea is not a miracle cure for Britain, but energy security changes the way people value domestic production. Harbour is definitely an interesting way to express that view.
...If California is the next big story for US oil, it will quite possibly be offshore.
California will become the new Texas. :)
"As a subscriber and fan in Korea, I deeply resonate with your insights and find your materials incredibly educational. The future of offshore drilling you describe feels to me like a massive tsunami visible from afar—a wave so colossal it seems to stand still or move in agonizing slow motion. I cannot say whether that tsunami will bring a windfall of wealth or a literal disaster when it finally reaches us. Nevertheless, I intend to savor the joy of investing and embrace this long wait with a sense of leisure."
Thank you. It means a lot to see this resonate all the way in Korea.
The tsunami is a great analogy. Offshore does not arrive quickly. But when it does, it moves with force. The problem is that most people give up before they ever see it.
Offshore will bring a lot of oil to the market. And that will push energy prices down. And cheap energy means prosperity.