2 things Nick, First the presence of two hurricanes, one (a category 5?) in the heart of America's most productive oil province, the second the most powerful and threat laden, nuclear hurricane threatening Florida!

This will almost certainly create very temporary shortfalls as opposed to an oil glut? And sure to force a price rise of sufficient proportions to get most if not all the mothballed operations back into full swing, due to financial/political pressure.

And some opening of the valves in Saudi and elsewhere and for the same set of reasons?

As this occurs, create a new and bigger glut as the gulf comes back to full operational status!?

The elephant in the room is thorium, the most energy dense material on the planet!

Simply put, one unit of thorium contains as much available extractable energy as one million units of hydrocarbon.

Publicly, it would seem some if not all fossil fuel companies, tell the public one thing, no, we and or our products have nothing to do with climate change, or the fact that extreme weather events will become even more extreme!

[One in five hundred year event happening multiple times inside a single decade? Pins on maps relating to dates extremely informative.]

While in private, their own scientists are saying something very different? A la asbestos and big baccy!? And for the very same reasons, except the stakes are far higher!

Did you know most conventional engines will run quite happily on hydrogen?

Or that the water molecule can be cracked at less cost than cracking hydrocarbons, particularly if powered by molten salt, walk away safe molten salt thorium reactors, tasked with reprocessing nuclear waste for a suitable fee.

Or that they can also be tasked with the cost competitive task of creating several useful artificial hydrocarbons from seawater.

A single successful pilot program will establish a reality that few nations will be able to compete with, except where their oil is close to the surface and in large quantities!?

Gotta spin like crazy to suppress/prevent that possibility, FALAP!
Alan B.

Cost at the bowser does not appear subdued.

J.F. Aus: No they don't do they.

Still it won't matter much for very much longer. The productive, export dollar hunting Chinese are well on target to roll one million affordable electric vehicles (around 17 grand) off their production lines this year? And ramp up that production year on year!?

Moreover, a couple of grim faced gentlemen merely posing as a PM and a treasurer? Fronted the media a few days ago, announcing they were technology agnostic as applied to energy. It didn't matter if the solutions were solar wind coal gas or hydro!

They even managed a relieved smile as the interview wound up with nobody having the unmitigated temerity to pose the obvious question, and the elephant in the room! What about nuclear?

Mark Butler, opposition energy spokesman, has that sewn up?

And when asked that very question, was able regardless of how many times the question was put or by whom or in what context or variation.

Answered the question like one of those (polly want a cracker) phone answering machines. Nuclear energy is not labor party policy! Repeated until the interviewer got the message!

And even when asked why not? Just repeated the same monosyllabic idiotic answer.

And then we wonder why energy prices are going through the roof!

Some will say, thorium is unproven technology!

No it's not! But rather thoroughly road tested and without incident or accident as walk away safe, molten salt thorium nuclear reactors way back in the sixties and seventies!

Type in the case for thorium, into your search engine. then scroll down the page to a five star rated video,(top doc) where a number of highly credentialed, well respected scientists, will put the facts on your table.

And have allowed dissenting views to also be put! And only because it gives their case much more weight!

Saturday ideal, given how little "interesting or informative" viewing is available!
Alan B.

It's an ill wind that blows nobody any good.

Oil oligarch, Putin must be rubbing his hands with glee at the prospect of any and all wind farms in Texas and environs being blown to the ground, smithereens or over the rainbow? By not one, not two, but three powerful hurricanes. [And would you like fries with that, exciting reality show, entertainment? Mr Trump.]

Even some transmission towers will fail to stand the, I'll huff and I'll puff test and the diesel generators, will just have to crank up?

However, America's safely buried gas grid will remain largely unaffected as will operational gas wells?

[Ain't foresight and responsible leadership a wonderful thing? Wish we could have some of it or just a tiny wee taste!]

Backdraught prevention valves preventing towering infernos and other hilarious, petrol cladding scenarios presented by an incorrigible Nicknamednick.

More good news for Exxon and others sure to be transfixed by the potential, windfall profit curve?

After all, that's all that counts or matters to the energy barons and resellers, isn't it? Don't forget to turn the lights out when you leave.
Alan B.