So what happened to the 'peak oil' theory promulgated about 20 years ago? Ghawar and the big fields in Saudi Arabia should be empty by now. Instead they're opening up the floodgates.
The Dow just turned green, but the miners as usual aren't allowed to participate. Like speculative oil companies, look for some of the juniors to be going out of business. Many are already shut down--the cost of production being what it is.
You can try to guess/flip JNUG and JDST, but the underlying facts supporting either stock seem to have no bearing on the price action day to day. For example, gold was up nicely the other day and JNUG barely budged. It's down a fingernail today and JNUG collapses.
Is there a 3X ETF that shorts oil?
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