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Agree there's still lots of risks and headwinds

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TuMaRu   Wednesday, 09/16/20 02:32:56 PM
Re: I-Man post# 809
Post # of 972 
Agree there's still lots of risks and headwinds for all oil stocks. Naked shorting doesn't help these companies either, and we haven't yet seen any discussion or offering of federal help to the distressed oil sector. Isn't it funny how they'll really hang out to dry this paramount and globally significant industry??

Gosh, in the US alone, we have 700-800 Mil gasoline or diesel powered cars, trucks, buses not to mention industrial machinery, lawn mowers, etc. Double that # to 1.5 Bil vehicles in the rest of the world. Plus there's aviation, shipping, mining, etc. all sorts of industries need oil let alone its derivative products. Where will the feedstocks come from if they let oil&gas shrink and wither away? What kind of foolhardy thinking is that??

Haven't checked out PER but will take a look. If OAS does an R/S or a secondary offering (very little chance) they're finished. Lets see how Q3 looks like in a few weeks.

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