I think people are forgetting (/have forgotten) that oil was way over-supplied for at least 1.5 years before it finally sunk in with running out of storage of oil at 100+/bbl. Actually seems like nothing happened until they (UK... NATO... reluctant USA because they had to...) brought oil down to punish Russia (too obvious).
Why do they think oil will stay down or go down further? The same closing group of CNBC that said to short Exxon Thursday was crying like he bet the farm on oil moving oil companies down, and like its just got to or ruined.... Just barely hanging on to a hint that he maynot be done adding to CHK and another company he has. (That's at the end of the Carl Ichon interview.)
At a loss for the reason of oil movement... it wasn't over production that dropped oil it was filling temporary storage. Basically OPEC still trying to tell us what to do as in 73...
I assure you they (drilling companies) could any day reveal how they've had to keep drilling to increase production (which means someday its going to cough air instead of oil out the valve. But some agreement (maybe a secret one, which could be why Obama did classify TPP?) keeps them from reporting truth... Which to me is wrong as this is the Information Age and we should know....
Obama took office with people saying he wanted gasoline to go to 4-5 per gallon to get development of alternative transportation then came Tesla then went gas going up, then came oversupply then came refinery shutdowns to keep us used to $2 gasoline (maybe to keep Tesla hanging on by a thread)... But also in the mix (funny) is NG conversion in Truck Transportation (keeping Obama happy) but how this seems to hang on while Obama is in office, so maybe (not funny) they plan to crash oil in a year plus to rid Tesla cars and NG trucks out of business, but they could never get away with that now as who knows what he would do to keep alternative energy alive? Hmmm like raise oil prices again?
Owning shares or partnership units is not an endorsement of management to break the Sabbaths or to do any other unGodliness. I do not share in their sin or guilt and they mislead others on their own accord. I have no major stakes to influence any company.
