Discussion
For quite a while I've been a fan of oil, RDS to be precise. It was great for years and famous for its dividends.
But now the shares are 50% down and the dividend is borked. One or other I can cope with but to lose both is irritating. I can easily hang on for better times, because the world needs oil, and CV will pass, but I wonder what the time-frame will be? Will we see shares coming back to previous levels and dividends restored? Or will oil be next on the list after slavery as 'activists', who seem to have far more clout than brains, bully their way past the silent majority into some imagined brave new world?
But now the shares are 50% down and the dividend is borked. One or other I can cope with but to lose both is irritating. I can easily hang on for better times, because the world needs oil, and CV will pass, but I wonder what the time-frame will be? Will we see shares coming back to previous levels and dividends restored? Or will oil be next on the list after slavery as 'activists', who seem to have far more clout than brains, bully their way past the silent majority into some imagined brave new world?
Condi said:
Longer term Covid has done a huge amount to push the world away from its oil dependency.
I'm not sure I agree. CV simply reduced the amount of oil needed by a large amount, very quickly. Hence the oversupply (plus the Middle East/Russia willy waving). The world may be 'pushed' towards eco-wotsit by green babble, some sound, some b
ks, but that was happening anyway - and with little thought as to how all the magic new electricity is going to be commercially/affordably produced, infrastructure etc.Gassing Station | Finance | Top of Page | What's New | My Stuff