twinpeaksyou are undoubtedly correct about the likely source of...

twinpeaks

you are undoubtedly correct about the likely source of increased demand.

My personal view of the drive to increased efficiencies in the "west" is that it has more to do with security of energy supply than anything to do with CO2 production.

If the forthcoming winter in the northern hemisphere proves to be cold (as has been suggested), oil & gas prices could harden over the coming months regardless of economic growth. There's also the possibility that O&G companies might wish to put reserves on balance sheet before the year end so the asset market might liven up a bit. Both could be good for TXN (and us).