Seriously, you don't understand that the Covid shutdown tanked the demand, causing lower prices? People in oil and gas were losing their ass during that period.
Yeah, that' not how it works. How much was gas before covid and how much demand was there? Current demand is trending down, while prices continue to soar. Global oil prices, however, continue to climb.
I left the oil and gas industry around 2010 because the industry was just to volatile. People are always loosing their ass on oil. Just before I left we switched solely to drilling for NG. It was a bad day when we hit oil. You wouldn't believe the regulations around that stuff.
I got out just in time. In 2014 SA flooded the world oil markets with oil and the domestic oil companies took it in the pants. It's been eight years and they still haven't recovered. My old company folded and my boss became a consultant.
I talked to my old boss the other day and asked him why the situation was so bad. He said after eight years of an oil depression most of the feeder companies are gone and are not coming back. Those that remain are tripping over themselves to drill but they can't get parts. No casing, no hoses, no anything and none in the future. He said they are at least six months out on everything. They also have trouble finding workers. Roughnecks were always difficult to come by, but the high pay assured there was always a pool to pull from. Not now.
They also can't get anyone to transport oil because all those transport companies folded too. That's why it's bad when you shut down an oil pipeline, because no matter how much you drill, there is no way to move the oil around. No oil to refinery, no gas to pump, high prices.
Lower oil prices, or gas stays high despite demand.