I am an oilfield veteran of 38+ years. Retired from Schlumberger since 2015. My background is drilling and completion fluids. I have authored a number of technical papers on completion topics. I have worked around the world- Brazil, Russia, Scotland, and the Far East. I still maintain a training and consulting practice and am always willing to help people who want to learn.
Summary
- As much as a trillion dollars of upstream investment has been delayed or canceled in the last few years. We discuss the reasons for this and the possible ramifications.
- We think the parallels to the financial crisis of 2008 are very real, and the lack of upstream investing could exacerbate impacts to financial markets.
- We recommend investors look carefully at the balance sheets of domestic shale companies vs. those of the Euro oils transitioning to green energy.
- We’re bullish on oil and gas and believe it will continue to play a vital role in global energy security for decades to come.
- Looking for more investing ideas like this one? Get them exclusively at The Daily Drilling Report. Learn More »
Introduction
I’m a proponent of fossil fuels investment. I write articles on companies that engage in this activity on this site virtually daily. In this article I intend to rebut some conclusions reached recently in recent article. I consider that the global energy mix has become too skewed toward “renewables” and we’re on the path toward a rediscovery of the energy security that traditional sources bring. The very early steps of that path, to be clear. Failure to make these investments could precipitate a severe and long-lasting financial crisis. We may already be beyond the point of no return, but I will avoid speculation on that score and let you draw your own conclusions.
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