Change is the only constant, as the saying goes.
Just ask anyone in oil and gas, politics or economics. Or The Yield’s editorial department for that matter, where COVID finally found a foothold and knocked us down one after the other like a chain of dominoes.
Fortunately, we’ve managed to cough it out, complete the mandatory seven days of loneliness and we’re back to the grindstone with renewed vigour (largely thanks to the fact we’re now relatively indestructible – for the next 12 weeks at least).
But enough about us. Ask those oil and gas execs, politicians or economists about change and they’ll no doubt nod vigorously, and either mumble about the world being in an uncontrollable state of flux or throw their arms wide open and praise the opportunities that lie ahead.
Of course, the first step in embracing new opportunity is to identify the current challenges and that’s precisely what will be happening at the upcoming APPEA Conference. While it might be reasonable to assume the days are numbered for fossil fuel producers, the focus of this year’s conference – the biggest in the Southern Hemisphere for the oil and gas industry – is very much about the great transition and how to go along for the ride.
We called on reputed oil and gas scribe and The Yield’s newest recruit Josh Lewis to give us the lowdown on how traditional oilers are approaching the new world order. And there are certainly moves afoot among some one-time traditionalists to reduce carbon emissions and embrace new business opportunities – like Carnarvon Energy, which is moving into renewable fuels alongside its current assets. READ MORE
It’s by no means the curtain call for traditional fossil fuel exploration and production, as The Yield’s crack investigative reporter Jess Gabites discovered when she sat down with Invictus Energy MD Scott Macmillan to talk about an unlikely discovery.
Mention global oil and gas production and there are some key geographies that spring immediately to mind. Filter it down to Africa and the focus zooms to offshore West Africa.
But Zimbabwe? It’s landlocked for starters. And there’s no oil and gas industry. Except there is major oil and gas potential, according to Invictus, and the company plans to tap into it. READ MORE
We mentioned the APPEA Conference above and that’s the reason this issue of The Yield is so energy focused. So we thought we should give a quick rundown of what to expect from the Brisbane event, which runs from May 16-19. READ MORE
Alongside energy, we also referenced elections and economics in the headline. Because there’s a whole lot of change going on there too. We didn’t write about them in any depth because we want to wait to see some outcomes before we dive in too deeply. But that doesn’t stop us having some opinions, so let’s put the following paragraphs down as “Comment”, which is a trick used by some media outlets to get around potential defamation suits.
We’re not defaming anyone here, but it’s our way of spouting off without doing too much research.
An interest rate rise? There’s practically a whole generation of first homebuyers wondering what that even means. When they find out and start to contemplate the prospect of paying 5 per cent on their mortgages, they’ll no doubt be listing their non-essential items on Gumtree. So look out for some bargains on flat screens and Xboxes that were snapped up with COVID-related stimulus payments and that first $10K of people’s super funds.
Meanwhile, their grandparents are gleefully recounting stories of being locked in at 17 per cent and still saving for the retirement caravan.
Of course, after 21 May we could well have a new federal leader and if that’s the case, those first homebuyers could be OK because many of them stand to get a 5 per cent pay rise under Labor’s proposed minimum wage increase. That will offset the interest rate rise.
It may well put their employers out of business though, so after they’ve covered the first few mortgage payments, they’ll lose their jobs when their workplaces close down. So you stand to find some bargains on Gumtree either way.
Not many people seem to want Scomo back in the job according to the opinion polls, which have Albo ahead by a nose. But not too many people want him either. It was the same story with Bill Shorten last time round – back then Scomo pulled off the ultimate Bradbury move by doing very little but letting the others tumble around him. Will he be relying on the same tactics this time?
If only someone other than the right-wing rednecks had stepped up with a viable third party, Australia could finally have seen a break from the two-party system. Oh well – we’ll keep that in mind for the next election. Look out for the launch of The Yield Party. And the partying that goes with it (because we’re all immune to COVID and can party our hearts out).
We’ll do some more research so we can dissect the outcome of the election in the next issue. For now, we hope you enjoy this energetic mix of content.