Allied Energy Corp. (OTCMKTS: AGYP) Benefits As Conservationists Realize Oil Dominates Energy Needs Now

Allied Energy Corp. (OTCMKTS: AGYP) benefits as reality sets in. Oil’s deep dependence globally still generates 80% of energy consumed. Conservationists may believe fossil fuels harm the environment.

The International Energy Agency (IEA) interjects a voice of reality in the worldwide message against oil. It says if the world is to reach its goal of zero net carbon emissions by 2050, an immediate halt to new fossil fuels must happen now.

But the EIA admits that oil demand will continue to rise. It expects oil to reach pre-pandemic levels of just under 100 million barrels of oil per day next year.

Energy experts say in reality oil still dominates the world’s energy usage. It isn’t going away soon.

So, independent drillers like AGYP may be here for quite a while. They will fill the requirements needed in the global energy pipeline.

World Dependent Upon Oil 

“We’ve known for several years that the end offered oil is near,” says Moez Ajmi, an energy specialist at firm EY. “But is the world ready to live without oil? It is still very dependent in my view.”

Mohammed Barkindo, OPEC leader, adds, “Any talk of the oil and gas industries being consigned to the past and halting new investments is misguided.”

Even Patrick Pouyanne, head of French oil firm TotalEnergies, acknowledges a transition will take place, “but it will take time.”

In other words, these energy experts are saying that conservationists are getting ahead of themselves. Oil and gas drillers are not going away anytime soon. 

AGYP Explores For More Oil And Gas In 2022 

Allied Energy Corp. (OTCMKTS: AGYP) in 2022 is exploring for more oil and gas. Independent driller AGYP has hit oil at five wells In Texas and is exploring for more at a third site. Investors should consider AGYP stock because energy is volatile.

Restoring older or abandoned wells in Texas, AGYP has identified plenty of more wells to explore for energy. As global oil grows in price, AGYP’s reserves prove valuable. Older, proven well sites are ripe for new oil.

Conservationists have declared a victory when they placed members on the Board of Exxon/Mobil.

Bank of America, Jeffries And JP Morgan See $150 Per Barrel Oil

But as long as energy prices and supply remain volatile, fossil fuels remain in demand. Analysts at Bank of America, Jeffries and JP Morgan predict global oil will reach prices of $150 per barrel or even higher in 2022. That’s double today’s cost.

AGYP stock documents it is a green company. It finds energy from older domestic and proven commercial wells. Domestic energy is valuable and scarce today.

AGYP has already hit oil at five wells in Texas. AGYP is getting close to pumping more oil from a sixth well 1-H on its Prometheus site. AGYP tweeted its progress getting ready for operations at this Well. Well 1-H once pumped 335 barrels a day plus 298,000 cubic feet of natural gas.

AGYP Identifies Plenty Of More Oil Wells For Exploration

There are plenty of more wells with oil ready to be explored by AGYP. It has identified numerous more Texas sites where leases can be obtained for low cost. Last summer, an oil engineer estimated AGYP’s oil reserves at $32 million. But this assets under management (AUM) figure is calculated at prices per barrel at about half of today’s prices.

Keep AGYP stock on your Watch List as oil and gas energy stocks are rising in value and global oil long term is seen rising.