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Yes, lots of water under the bridge since 2008, for sure.@rederob
Not that's it's relevent ATM but from memory, apart from the GFC fallout from the WPL peak in 2008, wasn't there a substantial sell down/out by a major WPL shareholder (Shell???) in play as well?
Perhaps that sell down came later but the WPL SP has languished for sometime since which, I've attributed in some part to the "climate change" mentally that is so prevalent.
So, are the days of having WPL as a sheet anchor in one's portfolio gone forever?
No, I don't think so, not with the BHP/WPL deal still to be finalised.
Coming back to the point in hand, this "special operation" or whatever Putin/Russia calls it (abhorrent as it is and I don't want to come across as callous in saying this) has certainly created some opportunities for the astute investor.
As I read it, the biggest problem for oil/gas majors is the cost of exploration to maintain reserves which in turn maintain the company's share price. Looking for what's left to find has become progressively more expensive per barrel discovered. As a result, company profitability has been heavily reliant on a strong oil price, and that situation was thwarted first by OPEC's ability to manipulate prices and then by US unconventional oil which curbed OPEC's price fixing power.
Right now we are in uncharted waters.
Speculation is certainly driving POO right now, because nobody knows how bad the situation might get, nor for how long.
Interesting you mention climate change as I actually think vehicle electrification will be the real killer of oil price in years ahead.
As I have WPL, STO and BPT shares, this bump will be my opportunity to sell them in weeks to come - I hope!