I am happy to see posting on the board is continuing. As a trading board populated mostly by traders, but with no normal trading occurring, I was wondering if perhaps some will want to post elsewhere. I hope not.
Considering the current situation, I have concerns that we might have difficulty keeping the board going. So far, things appear to be working out okay, and I am genuinely happy to see the posting efforts of many of the board members. Thank you.
Just brainstorming here, but during the interim, until management works through this, maybe we can also begin to include posting about other points of interest in the energy markets, and exchange ideas, comments, etc.
I see it as a way to stay engaged until the company and the partner find a path forward or until they do not. Just saying it might be worthwhile for us to stay informed about which fish are biting and what bait to use (analogy for you spec).
Any interest? If so, we can give it a try.
For example, it occurs to me that the pressure to reduce USA oil production will, by far, have the biggest effects in lost energy jobs (thousands), and increased costs to consumers (us), and very little climate impact or improvement (if any). So, three guesses who benefits the most from all this.
Politicians have already ruined many other industries and regulated them to the point of being uncompetitive. This will be no different, just more of the same, and it could have been avoided.
The ‘iron’ (tubulars, rigs, drilling equipment, etc.) will weather the storm very well and will still be quickly available. The problem will be the people. These jobs are often based in technology as well as labor. So, tech or labor, these are skilled workers, and once laid-off, they will not remain unemployed for long.
They will not need to ‘learn to code’. They will be able to find employment elsewhere, and they will leave the industry. So, once demand increases, and that is unavoidable, the iron will be ready to get back to business, but who will work it? Thus, the problem.
These are things to be concerned about for those interested in keeping the lights on, food on the table, and fuel for transport, to say nothing about the decreasing affordability and it’s impact to household budgets.
Many of us will have already seen this happen in our past work experience, will totally understand the issues created, and will know exactly what to expect. And who is to blame.
Mrs. Smith
