Long hiatus rearviewed and remembered well I have returned. As many of you know I am the YouTube poster and author of the mnkd $250,000 bet. Most of the nearly $1M I made on mnkd is now in integrated oil majors and Nat gas stocks. I have new information on both mnkd and a new YouTube bet coming. This time even more than last. Info to be released late this week! Glad to be back and to help save this sinking ship!
Yes, out of the 100,000,000 men/women eligible to be president in this country these 4 are the best we have to offer. A reality TV star, a lying criminal, angry socialist, and religious opportunist. John Kasich on the Republican side seems to be the only adult. Democrats don't have one on their side yet.
Global auto sales (both new and used) are exploding. We are on pace to break the 2003 record which was the biggest ever. And over 50% of those are suv/trucks. With gas averaging $2 nationally I don't see a slowdown in large vehicle purchases either.
Production has slowed. Saudi Arabia could cut back production and guess what? You would never hear about it because they wouldn't say anything about it until it had been going on for months.
Global Airline travel is exploding and eclipsing 2006 levels
Production will be dramatically insufficient within 2 years because of capex shelving and moratoriums on exploration/drilling projects and the bankruptcy of the weak.
Venezuela is a disaster and they're largest well is in shambles.
HR156 will bring WTI to parity with Brent. (Hell, the spread between the two keeps narrowing the closer we get to the vote)
Refinery strikes ending
Warmer weather for longer durations
China commited to completely filling their strategic oil reserve with prices at $50
Saudi Arabia demand is soaring
OPEC considering emergency meeting
Seriously, I see oil around $60-$80 within 6 months. This is a generational buying opportunity. These energy stocks are lower than they were in 2009 when everyone thought the world was ending and America had fallen.
Looks really narrow. A lot of pundits ran around saying it was because of China/Asia slowdown affecting Brent imports but that cannot be the case because China will not stop buying wholesale at these prices until their strategic oil reserve is full as the Chinese govt said last week. in fact, it appears China's oil imports have actually increased over the few weeks.
What we really need is HR 156 (repealed export ban) to hit the senate floor asap. Looks to have bipartisan support and when it passes the WTI/BRENT spread should close very very quickly. In fact, with our advanced refining tech it could be that WTI eventually trades at a slight premium to Brent. It looks like it could be voted on before the year ends and that would be a huge kick in the gut to the Saudi's imho.