"I’m pondering the outperformance we are starting to see in the oil services space when capital expenditure is less than half what it used to be due to dividends/buybacks and debt repayment."
Maybe lower future oil services capacity and better pricing power as the global economy starts seeing more growth with interest rates getting cut?
I suspect the policymaker projections are based on the expectation of a drastically reduced world population by 2050.
"I’m pondering the outperformance we are starting to see in the oil services space when capital expenditure is less than half what it used to be due to dividends/buybacks and debt repayment."
Maybe lower future oil services capacity and better pricing power as the global economy starts seeing more growth with interest rates getting cut?
Love your writing btw. Cheers!