Good info. So what's your sense of how transitory the fuel price increase is? I went through and checked the weights of the CPI and the biggest contributor to the 8.5% figure was gas for cars at 2%.
Honestly no idea. Domestically, there's no reserve shortage. But after the price plunged years back and COVID demand shock nearly killed the industry, I imagine the big players will be more conservative in how they develop new wells.
This, plus the fight with Russia and rising demand in China would make me think demand will continue to outstrip supply into the foreseeable future.
Good info. So what's your sense of how transitory the fuel price increase is? I went through and checked the weights of the CPI and the biggest contributor to the 8.5% figure was gas for cars at 2%.
Honestly no idea. Domestically, there's no reserve shortage. But after the price plunged years back and COVID demand shock nearly killed the industry, I imagine the big players will be more conservative in how they develop new wells.
This, plus the fight with Russia and rising demand in China would make me think demand will continue to outstrip supply into the foreseeable future.