"It's a wrap" by Irina Slav

[Tom Nolan + 2,441]

At the start of this year, I had a stressed-out family, a nervous cat, a substantial electricity bill because our heating was all electric, some neighbours who judging by the noises, kept horses in their flat on the floor above ours, a comfortable job, and a small but growing audience on the Substack newsletter I started last summer.

As the year progressed, the world began to change in ways that some would have called unexpected but were, in hindsight, only a matter of time. The geopolitical shifts, the European energy crisis that began last year but fully blossomed this year, the oil price rise and OPEC’s response to it, the double-down on the energy transition — it was a good year for the news industry, with big, important things happening every day, sometimes many at the same time.

It was in a lot of ways a depressing year as well. Most of the news was bad and for me personally 2022 will go down in history as the year when the bar of stupidity was pushed to a record high, pretty much like natural gas prices in Europe. Sadly, it wasn’t just stupidity that we had to witness and, for many of us, experience this year.

Energy wasn’t the only story out there and neither was the war in the Ukraine although they certainly held the spotlight. While we were all watching this spotlight, several countries traditionally praised for their democratic ways moved in a direction that few would have dreamed of just a few years ago, even though the process was already underway.

Canada froze the personal accounts of Canadian citizens because it disagreed with their views on its healthcare policies and how these citizens chose to express these views.

New Zealand’s government declared that it is the only source of information people should believe and, most recently, encouraged New Zealanders to report on their friends, neighbours, and strangers if they seem suspicious, suspicious here meaning people with potentially extreme political views, including dissent with the New Zealand government’s healthcare policies. Oh, and they also banned smoking for all those born after 2008.

In the UK, children were being taught to not be afraid of strangers approaching them on the street but treat them as friends and adult women were being taught to not worry if they come across a man in the ladies’s room but treat them as friends.

In both the UK and the U.S., the use of the word “woman” declined, actively discouraged, in favour of alternatives such as “birthing individual” and “menstruating individual” to reflect an accelerating trend in the new and highly fascinating field of identity politics that seeks to do away with biological facts and replace them with a spectrum of choices, often based on mood and hormonal imbalances.

The urge to dispense with facts, however, was not just reserved for identity politics. With far longer traditions in doing this, energy politics was the star this year in the sports discipline of fact-ignoring.

It is likely to retain the top spot next year as well while previous bastions of democracy continue on their way to full-blown totalitarianism, complete with various charming forms of censorship, encouragement of people to report on other people with dissenting opinions, and the constant threat that if you don’t sing in the government-conducted choir, you may well lose access to your money with an option on losing tour freedom, too.

Questioning the human origin of climate change is now a criminal offence in the court of public opinion across the West, punishable by aggressive mocking on social media and very probably by reputational damage in real life although this is just speculation on my part.

The West seems to be trying for its own version of what we used to call socialism in Eastern Europe once upon a time. This version is strikingly similar to the version we had, or so I’ve heard from those who spent most of their lives during that time.

Now that I’ve got you good and depressed, and possibly a bit agitated, here’s the good news. The truth began to leak through the cracks of the dominant narrative this year at a steadier flow than ever before.

Climate scepticism increased, not least because people were too preoccupied with worrying if there will be enough energy, so they had less time to worry about the source of that energy. EV scepticism increased or, I suspect, simply came out of the shadows, including, notably, in the car manufacturing industry.

Identity politics began drawing all sorts of attention, including the kind of journalistic attention that can — and did — lead to the urgent shutdown of at least one so-called gender reassignment clinic in the U.S., after an investigation revealed the owner had referred to it as basically a money-making machine.

The totalitarian ambitions demonstrated by the leaders of supposedly democratic world powers also began to draw attention, probably because of their scale and fast pace of advancement. Whether this attention will lead to a change or not remains, as always, to be seen but I’d say attention is a good start.

With all this attention going into previously dark places, carefully kept out of the public eye, it has certainly been a busy year for a lot of people, including me. At the end of it, I feel like I’ve been saying the same things over and over again three times a week, four weeks a month except my mid-year break.

That feeling is probably caused by the fact that there are not many problems facing us today but even though their number is low, the metastases of these problems are multiple and, as I’ve said before, using one of my favourite quotes, nothing good ever follows multiple.

I won’t stop harping on about the things I have been harping on this year, however. I strongly believe that the best way to effect a change for the better in a society devolving into totalitarianism (and it’s not just the aforementioned four former democracies, it’s a broader trend) is to call out the criminal mistakes politicians make, their idiotic agendas, and their corrupt motivation in many if not most decisions.

A couple of months ago, a reader who I like to count among the new friends I made after I started this Substack, told me something along the lines of “Okay, it’s bad, it’s horrible, I get it, but what can we do to change that?”

My answer was and remains: Keep calling them out. Keep shining the light, any light, on shady dealings, blatant lies, and obvious untruths. It’s thankless and it’s depressing but someone has to do it and the more of us do it, the more people we can reach and, hopefully, spark some interest in the workings of today’s world and raise some questions. It’s the only way I see of avoiding having to ask one quite horrible question: What the hell happened and how did we get here?

At the end of this rollercoaster of a year, I have a calm family, a happy cat, a neighbour with an actual horse that he keeps in a stable, a fire to stare at while I drink my pre-dinner beer, a comfortable, though often quite emotionally taxing, job that I love, and several thousand people who seem to think what I have to say deserves their attention. Please accept my sincere gratitude. It’s been great having you here.

Happy holidays to each and every one of you. Eat, drink, wear your new clothes, and be merry because next year will probably be no better than this one. The silver lining is that the sooner the dominant narrative breaks down under its own considerable weight, the sooner the healing process can begin. I’ll see you in January.

https://irinaslav.substack.com/p/its-a-wrap

[Tom Nolan + 2,441]

As far as I am concerned...

There is a line in the sand.  Deliberate or lazy ignorance can be lethal and destructive to others.  For those who choose to believe that the governments, their agencies, the mainstream media, and the official narratives are NOT perverted and corrupt, then those people are complicit in malfeasance...their ignorance is a criminal act.  Their inaction forwards the official narratives.  There is no doubt that official narratives have been lethal and have destroyed the lives of many.

If one chooses to remain ignorant and inactive against these forces of the official narratives, then that person is trying to enslave and destroy the lives of others.  That person is a criminal.

[notsonice + 1,063]

1 hour ago, Tom Nolan said:

As far as I am concerned...

There is a line in the sand.  Deliberate or lazy ignorance can be lethal and destructive to others.  For those who choose to believe that the governments, their agencies, the mainstream media, and the official narratives are NOT perverted and corrupt, then those people are complicit in malfeasance...their ignorance is a criminal act.  Their inaction forwards the official narratives.  There is no doubt that official narratives have been lethal and have destroyed the lives of many.

If one chooses to remain ignorant and inactive against these forces of the official narratives, then that person is trying to enslave and destroy the lives of others. That person is a criminal.

For those who choose to believe that the governments, their agencies, the mainstream media, and the official narratives are NOT perverted and corrupt, then those people are complicit in malfeasance...their ignorance is a criminal act?????

That person is a criminal.?????

sounds like you appointed yourself Judge over humanity in your own little twisted world........

 

 

PS Your tinfoil hat has a hole in it....

 

[Rob Plant + 2,601]

18 hours ago, Tom Nolan said:

That person is a criminal.

Really? Arent they just stupid?

[footeab@yahoo.com + 2,129]

Cowardice is criminal....

Hrmm, in the army cowardice is criminal during war.

Are we at war? 

Arguably?  Yes. 

[Eyes Wide Open + 3,537]

46 minutes ago, footeab@yahoo.com said:

Are we at war? 

Arguably?  Yes. 

The next six months will address how deeply this course correction will go. I sadly have to concur with you..a war yet to be defined. 

[Tom Nolan + 2,441]

On 12/21/2022 at 11:23 AM, notsonice said:

For those who choose to believe that the governments, their agencies, the mainstream media, and the official narratives are NOT perverted and corrupt, then those people are complicit in malfeasance...their ignorance is a criminal act?????

That person is a criminal.?????

sounds like you appointed yourself Judge over humanity in your own little twisted world........

 

 

PS Your tinfoil hat has a hole in it....

 

notsonice, So you support lethal and destructive government mandates and policies?  If you do, then you are complicit.  You advocate that the populace be enslaved by tyrants.

[Tom Nolan + 2,441]

6 hours ago, Rob Plant said:

Really? Arent they just stupid?

Is a person who quietly sits by and watches a 7 year old boy be sexually abused...is that person who watches stupid?

Ignorance is deliberate when a person tries hard to not honestly investigate.   Not calling out insane actions and lies of governments and media is criminal.  It perpetuates the destructive nature of that government or mainstream media narrative.  People die because of these type of lies.  People's lives become ruined because of the deceptive offical narratives.

[Tom Nolan + 2,441]

The War is against us, the people.

[notsonice + 1,063]

16 minutes ago, Tom Nolan said:

notsonice, So you support lethal and destructive government mandates and policies?  If you do, then you are complicit.  You advocate that the populace be enslaved by tyrants.

Losers such as yourself always blame others for your own failings.

then you are complicit.  You advocate that the populace be enslaved by tyrants.????

Buzz off Tard, your posts are those of a lunatic....You really show the rest of the posters here that you babbling fool.....

 

[Tom Nolan + 2,441]

33 minutes ago, notsonice said:

Losers such as yourself always blame others for your own failings.

then you are complicit.  You advocate that the populace be enslaved by tyrants.????

Buzz off Tard, your posts are those of a lunatic....You really show the rest of the posters here that you babbling fool.....

 

notsonice, You imply that you trust the official narratives.  You imply that you were among those who advocated forced lockdowns and forced vaccinations.  You imply that you want rulers to dictate how people live.

[notsonice + 1,063]

59 minutes ago, Tom Nolan said:

notsonice, You imply that you trust the official narratives.  You imply that you were among those who advocated forced lockdowns and forced vaccinations.  You imply that you want rulers to dictate how people live.

nutjob........your statements are BS......Rubber room dude ....check yourself in

[Tom Nolan + 2,441]

11 hours ago, notsonice said:

nutjob........your statements are BS......Rubber room dude ....check yourself in

notsonice.  You can't talk right.  There is no information nor rational speech from you.  Just Ad Hominen attacks...and we all know what that implies.

[Tom Nolan + 2,441]

Government and Media lie, thus destroying people's lives.  Then they try to rewrite history.

2 minute VIDEO which exposes this...It cannot be denied.

https://twitter.com/ITGuy1959/status/1581034815700488192

[Tom Nolan + 2,441]

https://oilprice.com/Energy/Energy-General/2022-The-Year-When-Oil-And-Gas-Stocks-Became-Markets-Darlings.html

2022: The Year When Oil And Gas Stocks Became Market’s Darlings

By Irina Slav - Jan 01, 2023, 12:00 AM CST

• Oil and gas stocks have been shunned by institutional investors for several years.
• Energy stocks have collectively gained some 60 percent this year in the United States alone.
• The ESG narrative has also begun to unravel this year, with ESG funds significantly underperforming traditional funds.

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For several years, oil and gas companies have found themselves the target of attacks from investors, the non-governmental sector, and governments for their alleged lead role in climate change.

From shareholder resolutions pushing for greater commitments to reducing greenhouse gas emissions to lawsuits to force oil and gas operators to effectively curb their core business, the barrage has been relentless.

As a result, oil and gas stocks have become the pariah of stock markets in the same way their issuers have become the pariah of the business world. That is, until this year.

This year, a shocking number of countries realized that while cutting emissions may be a noble goal, the immediate priority was to have electricity without blackouts. As a result of this realization, fossil fuel use in climate change avant-garde outpost Europe increased significantly, pulling oil and gas prices with it.

As prices rose, so did the prices of oil and gas stocks. In fact, these rose so impressively, they actually turned into the best performers on the market this year. The reason: huge profits amid the European energy crisis, which, needless to say, have also drawn much hostile attention from climate-conscious governments.

The Financial Times reported this week that as many as 15 of the top performers on the S&P 500 are expected to be from the energy industry, with Occidental Petroleum seen at the top of the list after its stock gained 120 percent this year. What’s more, the energy sector gave a stellar performance in a year when the broader stock market performed a lot more weakly amid the aggressive tightening of monetary policy in both the United States and Europe, and a surge in bond yields that drew investors away from stocks, hurting some of recent past’s best performers.

Bloomberg noted in a recent report that the 21-percent slump in the S&P 500 is about to become the biggest since 2008—the year of the global financial crisis. Only this time, it’s Big Tech that seems to have suffered the most—Meta alone shed 60 percent this year—along with crypto companies, which suffered additional blows from digital currency meltdowns and the collapse of the FTX crypto exchange.

Related: China Sets The Tone In Oil Markets At Year's End

Even Tesla did not survive this year’s stock market jitters unscathed: In just the past weeks, the company shed as much as 70 percent of its value because of growing fears about the demand for electric vehicles. Many called the price drop a long overdue correction and a reality check, but Elon Musk has assured Tesla employees that the company would return to its most-valuable status eventually

Meanwhile, energy stocks have collectively gained some 60 percent this year in the United States alone, the FT notes in its report, and are looking increasingly appetizing to investors previously suspicious of oil and gas because of their emission track record and ESG-dedicated advisors claiming that over the long term the only good investment is ESG investment.

The ESG narrative has also begun to unravel this year, with ESG funds significantly underperforming traditional funds, and evidence piling up that this is not a temporary glitch but rather a trend in ESG investing because it puts political priorities over financial ones. ESG investments have also become the object of attention from Congress and state legislatures dominated by Republicans.

In this context, and with oil and gas demand on the rise—a fact that even the International Energy Agency has not disputed—it was only a matter of time before investors remembered what their number-one priority in investing is: making money.

With profits at a record and with windfall profit taxes threatening future spending on more production, oil and gas companies are more than happy to keep returning cash to investors, both in Europe and the U.S., but especially actively in the U.S. shale patch.

The U.S. shale oil and gas industry became a textbook example of flexibility this year when it defied all expectations about fast production ramp-up, preferring instead to remain on the sidelines of the global oil production growth game and instead return cash to shareholders and leave production growth for later.

But Big Oil is returning cash, too, from its record profits this year that prompted so many governments to call for windfall taxes because, ironically, Big Oil wasn’t using its record profits to produce more oil, which was exactly what those same governments wanted Big Oil to do before they found themselves in a fossil fuel shortage.

Thanks to a strong year in which many were forced to remember that the world runs on oil and gas, and not wind and solar as of yet, the oil industry became bolder in its reactions to hostile governments and non-governmental organizations, too.

TotalEnergies filed a lawsuit against Greenpeace France for spreading “false and misleading information” about the Big Oil major’s emissions after Greenpeace published a report claiming TotalEnergies had understated its emissions.

Exxon targeted none other than the EU itself in a lawsuit just a few days ago in response to plans for a windfall tax on energy companies. According to the plaintiff, the tax would hinder investment. The plaintiff also claimed that the windfall tax is outside the authority of the European Commission.

All in all, 2022 was an unexpectedly good year for the long-demonized oil and gas industry, especially financially, which is what any industry really wants at the end of the day.

By Irina Slav for Oilprice.com

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