- A break from political doomerism to celebrate that - no matter how much the losers try to get in the winners’ way - the fossil fuel era is ending. Note a couple key slides here: harrybenham.substack.com/p/leaving-th...
May 11, 2025 14:10
- 1. As folks who know have been saying for a while - an industry that is valued based on its ability to return cash to investors isn’t a growth industry. And increasingly, that’s all the O&G sector does. They’re not investing.
- 2. There’s a chicken here in the form of declining market share. And an egg as capital providers no longer provide them with growth capital. But each is self reinforcing.
- 3. Re declining market share, look at where the growth is coming from. An industry that used to depend on transportation is now dependent on… plastic straws. (Their DC shills are doing their best to preserve that demand FWIW. But it’s small potatoes.)
- 4. To quote Mr. Benham, “the industry is transitioning from oil extraction to cash extraction”. That’s bad for investors who are long on oil & gas. But good for the planet, and your wallet. /fin
- Who will be Kodak and who will be Fuji?
- I heard Trump say to the Canadian PM, “We have too much energy.” Why do we need to drill, baby, drill then?
