For the past five years O&G E&P companies have been realizing significant loses in a shale driven production world. Where NA producers are quick to turn on the taps and drown the market in oil once $WTI hits $55/bbl. with this comes instability and loss of Wall Street backing. Banks are labeling this as a way to show them in a good light. I.e. ‘fight climate change.’ The actuality is that the want better returns in a more stable environment.
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For the past five years O&G E&P companies have been realizing significant loses in a shale driven production world. Where NA producers are quick to turn on the taps and drown the market in oil once $WTI hits $55/bbl. with this comes instability and loss of Wall Street backing. Banks are labeling this as a way to show them in a good light. I.e. ‘fight climate change.’ The actuality is that the want better returns in a more stable environment.
I apologize for poor formatting on my phone.
Exactly this, and if looks good from a social perspective that's just an added bonus.