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Oil

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Views: 386
Posts: 29
 
Captain
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Joined: Jan, 2010
Posts: 7571
Posted: #26

stay away from oil

 
Captain
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Joined: Jan, 2005
Posts: 7872
Posted: #27

@avenue

 Why ?  Because it is crushing it relative to all other asset classes this year ? 

Funny thing is, oil is still drastically under owned , and still cheap on a p/e basis.  Oil got crushed during the previous 10 years,  and has a lot of potential.

And ESG is holding back big oil.  Once these foolish governances realize that oil is an important,  necessary part of our energy future, things will get even better.  Even Warren Buffett has called BlackRock's ESG initiatives "assanine".  Lol

 
Veteran
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Joined: Dec, 2019
Posts: 4524
Posted: #28

The price of oil indicates heavy inflation from the g7 countries which is very concerning, I expect oil to hit high water levels again in the coming months

LA PARKA
 
 
Captain
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Joined: Jan, 2005
Posts: 7872
Posted: #29

That is true.  Biden's assault on fossil fueis will not end, and prices will continue to rise due to oil companies' lack of investment, drilling.  Combine that w China still a basket case of an economy due to stupid, egregious, covid policy... which results in restrained demand.

If we get a deep recession,  it will present an opportunity to buy energy.   But the long term thesis on oil is quite bullish IMO. 

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