Post by
tollycraft on Jul 05, 2022 4:14pm
From where I sit
Yes, we all took a beating again today. Im looking to see whats changed to alter my outlook on oil.
I do not believe a recession will crater oil stocks, lets remember, not all oil goes into fuel tanks. It goes into clothes, plastics, and almost every item in a household. After having said that, everytime someone goes into a store and buys something think about how it got there, if you picked it up, it came by truck! Oil is an absolute necessity, for this reason alone I will continue to hold. If Russia walked out of Ukrian tomorrow and said "were sorry, were leaving now, what do you think woud change? Do you think the U.S woud say, "okay, lets order up some oil from Russia, their not so bad"
What about Germany, Poland, or any other Euorpean country?, do you think they'll say,"okay, lets not look for alternatives Russian oils okay," Forget the fact that WCP and a lot of others are undervalued, the fact still is, demand will continue to grow and supply is still short. There were two years minimum that oil comopanies were forced to stop drilling and stop exploration due to limited demand, thats behind us now so no place to go but up. I'm pretty thicked skinned so if someone wants to correct me and change my mind I'm all ears, if I'm looking at this all wrong I sure woud like to know. In the meantime ,GLTA.!!
Comment by
pinecone11 on Jul 05, 2022 4:58pm
>If Russia walked out of Ukrian tomorrow< Vladimir Putin says "I know that the rain in Ukraine falls mainly in the plain, but I have no idea where the rain in Ukrian falls." Ukraine war: Putin’s forces ‘struggling in Donbas as they don’t like the rain’ | Evening Standard