Quotes from the news wire:
Look back at history. When we're in a scenario where the market goes,' Oh, s ***, we don't have spare capacity,' that's where you see overshoots.
They will look for excuses to take a breather.
We've taken oil availability for granted.
Covid-19 wiped out investment. These countries had to protect themselves fiscally. They didn't allocate as much into spare capacity.
To do that, you have to invest less. You can put money in the ground or give it back to shareholders. If you do the latter, you are under investing.
We didn't use to have a transition cost. Now we do.
We are massively oversupplied.
Found on Reuters 3 years ago
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