The more I read and suffer the European policies designed to “protect climate”, the more questions I make myself, and the greater the desire to share them with you. Continue reading Climate protection policies, more harm than benefit?
Is CO2 dead? This is something I have been warning for a few years now. The evidence is overwhelming. Flawed concept, massive oversupply of permits and politicians optimistic predictions. Great combination. Continue reading CO2 collapses to all-time low
2012 was a very tough year for global oil & gas, as the group underperformed the MSCI World by 10%. FTSE Oil & Gas was down 12% and SXEP down 4%.Starting with the disastrous performance of the US onshore-levered oil-field services stocks (the group was down 15% from the March peaks), sharp-sell off in US natural gas prices (-36% to the lows of $1.8/mcf only to end the year in the green) to profit-warnings from consensus top picks, we saw it all. Needless to say, dispersion of returns in 2012 was very high. Looking just at the top 25 oil & gas stocks by market capitalisation (>$40bn), which account for 55% of total global oil & gas market cap, performances range from -23% (Petrobras) to +42% (Ecopetrol). Continue reading Oil & Gas: Looking back at 2012… and a 2013 Outlook