- Putin’s war in Ukraine
- wars somewhere, anywhere
- sanctions on Russia
- lack of access to Russian oil and gas
- trade war with China
- trade war with anyone
- real war with China
- oil price not high enough
- oil price not stable enough
- interest rates too high
- interest rates not stable
- fear of ‘anti-growth’ coalition
- climate activists & ‘alarmists’
- anti-capitalist rhetoric and wokeness creating hostile environment
- activist shareholders
- need to reward proper shareholders
- fear of divestment by pensions and universities
- too much CSR (corporate social responsibility)
- too much ESG (any ESG = too much) [ESG = environmental, social, and governance]
- too much sustainability and green baloney
- insufficient investment by governments in helpful technology, eg US government funded and did much of the early research which led to fracking
- insufficient tax breaks for exploration
- permitting difficulties
- mixed government messages
- unstable regulatory environment
- too many regulations in general
- being forced to invest in flaky, unreliable renewables instead of solid oil and gas (= government’s fault for investing too much)
- technology for CCUS going too slowly (= government’s fault for not investing enough)
- too many tax breaks being given to renewables
- alarmist messages from UN and IEA
- shortage of geologists
- shortage of engineers
- young people being scared off working for big oil by activists
- too early to tell – need more data (this excuse should last for a few years and can be revised, updated and spun in various helpful ways)
- Greta Thunberg
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