Sasol's been copping it on the energy transition story, but the synfuels business still throws decent cash…by @bombay_coach on $SOLBE1

Sasol's been copping it on the energy transition story, but the synfuels business still throws decent cash when oil holds up. Problem is the capital intensity, you're waiting years for payback on those mega projects. Compare that to Anglo or Glencore and they're way more flexible with their capex, that's why the market keeps rating them higher. R79 might be value if you think oil stays north of 80 bucks for the next cycle, but it's a patient game.