{"id":60553,"date":"2021-11-20T17:00:05","date_gmt":"2021-11-20T22:00:05","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60553"},"modified":"2021-11-20T17:00:05","modified_gmt":"2021-11-20T22:00:05","slug":"lack-of-new-fossil-fuels-investment-may-trigger-a-new-financial-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60553","title":{"rendered":"Lack Of New Fossil Fuels Investment May Trigger A New Financial Crisis"},"content":{"rendered":"<header class=\"bahA bdA bdD bdJ\">\n<div class=\"bahB bdT\">\n<div class=\"qvB bdA bdJ\">\n<h3 class=\"qvA beGI\" data-test-id=\"post-title\"><a href=\"https:\/\/seekingalpha.com\/article\/4470078-lack-of-new-fossil-fuels-investment-may-trigger-a-new-financial-crisis?fbclid=IwAR2PUw4HCf4QlYXFVZ6dhU3CLEWmnNhHxXOphG9jIrwxaIf8DBDecryUxYc\">Lack Of New Fossil Fuels Investment May Trigger A New Financial Crisis<\/a><\/h3>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"bcsA\">\n<div data-test-id=\"content-container\">\n<p>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.<\/p>\n<\/div>\n<\/div>\n<p class=\"qrA beGG\" data-test-id=\"article-summary-title\"><strong>Summary<\/strong><\/p>\n<ul class=\"qrB\">\n<li class=\"\" data-test-id=\"article-summary-item\">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.<\/li>\n<li class=\"paywall-full-summary\" data-test-id=\"article-summary-item\">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.<\/li>\n<li class=\"paywall-full-summary\" data-test-id=\"article-summary-item\">We recommend investors look carefully at the balance sheets of domestic shale companies vs. those of the Euro oils transitioning to green energy.<\/li>\n<li class=\"paywall-full-summary\" data-test-id=\"article-summary-item\">We&#8217;re bullish on oil and gas and believe it will continue to play a vital role in global energy security for decades to come.<\/li>\n<li class=\"paywall-full-summary\" data-test-id=\"article-summary-item\">Looking for more investing ideas like this one? Get them exclusively at The Daily Drilling Report.\u00a0<a href=\"https:\/\/seekingalpha.com\/checkout?service_id=mp_1241&amp;source=mp_marketing_text_top\">Learn More \u00bb<\/a><\/li>\n<\/ul>\n<div role=\"presentation\">\n<div class=\"lrA bdA paywall-full-content\" data-test-id=\"article-content\">\n<div class=\"lrB bdT\">\n<div class=\"lrI\" data-test-id=\"content-container\">\n<p>&nbsp;<\/p>\n<figure class=\"getty-figure\" data-type=\"getty-image\"><picture><source srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/webp_medium_image_504008174.webp, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/webp_extra_large_image_504008174.webp 2x\" type=\"image\/webp\" media=\"(min-width: 1280px)\" \/><source srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/webp_large_image_504008174.webp, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/webp_extra_large_image_504008174.webp 2x\" type=\"image\/webp\" media=\"(min-width: 768px)\" \/><source srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/webp_medium_image_504008174.webp, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/webp_large_image_504008174.webp 2x\" type=\"image\/webp\" media=\"(min-width: 320px)\" \/><source srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/medium_image_504008174.jpg, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/extra_large_image_504008174.jpg 2x\" type=\"image\/jpeg\" media=\"(min-width: 1280px)\" \/><source srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/large_image_504008174.jpg, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/extra_large_image_504008174.jpg 2x\" type=\"image\/jpeg\" media=\"(min-width: 768px)\" \/><source srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/medium_image_504008174.jpg, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/large_image_504008174.jpg 2x\" type=\"image\/jpeg\" media=\"(min-width: 320px)\" \/><img decoding=\"async\" src=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/medium_image_504008174.jpg\" srcset=\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/medium_image_504008174.jpg, https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/504008174\/large_image_504008174.jpg 2x\" alt=\"Shocked and surprised boy on the internet with laptop computer\" width=\"1536px\" height=\"1085px\" data-id=\"504008174\" data-type=\"getty-image\" \/><\/picture><figcaption>BrianAJackson\/iStock via Getty Images<\/p>\n<\/figcaption><\/figure>\n<p><strong>Introduction<\/strong><\/p>\n<p>I&#8217;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\u00a0<a href=\"https:\/\/seekingalpha.com\/article\/4466370-cop26-failure-to-diversify-from-fossil-fuels-could-trigger-new-financial-crisis?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link&amp;v=1636582597#comment-90627957\">article<\/a>. I consider that the global energy mix has become\u00a0<em>too<\/em>\u00a0skewed toward &#8220;renewables&#8221; and we&#8217;re on the path toward a rediscovery of the energy security that traditional sources bring. The\u00a0<em>very<\/em>\u00a0early 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.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lack Of New Fossil Fuels Investment May Trigger A New Financial Crisis 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[312,328,3948],"class_list":["post-60553","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-financial-crisis","tag-fossil-fuels","tag-seeking-alpha"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60553"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60553\/revisions"}],"predecessor-version":[{"id":60554,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60553\/revisions\/60554"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}