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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil recoveries through the application of water flood technology. The key properties in the Central Alberta Light asset include Wilson Creek, Ferrier, Killam, Drayton Valley, and Chigwell.


TSX:GXE - Post by User

Comment by lovehockeyon May 31, 2023 7:09pm
102 Views
Post# 35473827

RE:RE:Biden's weekly SPR dump is 2.6MM

RE:RE:Biden's weekly SPR dump is 2.6MMSPR was established to protect US economy and strengthen national security during major oil supply disruptions. 

So the reason why they are dumping SPR is exactly why it was established - they do believe that the there are supply disruptions and they are trying to protect US economy. The problem with this is that the SPR is already half drained, worl oil consumption is at all time high and there are less contracts signed in US dollars which is weakening petrodollar. Yes, US still has some tools to control North American oil prices and SPR releases are one of them. 
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