If trends hold, 2017 it will mark the third year in a row Americans drive record distances. Virtually all will drive vehicles powered by petroleum products.
Upon closer examination...$ 74.69 is the number to watch
it seems to be rotating from a slow bleeding into a slow free fall
DOWN AGAIN !
GEEEEZ ....... DOWN AGAIN !!! DOWN THE Rabbit hole.
By my count, XOM has set a new 52 week low for 11 trading days in a row now.
Does anyone know what is the record for consecutive days of a new 52 week low on the NYSE?
It rose two centavos. That's 3/100 of one percent.
Weald of Swabia
Bankrupting the Oil Industry and OPEC
Germany has evolved from decentralised to centralised government over the past 400 years, allowing politics to dictate the path of technological, industrial and social development: A professional bureaucracy was developed which systematised collection and analysis of information and rationalised taxation by increasingly focusing it on wealthier persons; educating students with low and high ability in separate schools has maximised outcomes; state-funded institutes and universities enabled pioneering work in quantum theory and development of quantum mechanically based technological centres; government-owned railways and state-led research consortia promote coordination; Green land policies and high land prices have ensured that 99% of living space is occupied by Europids, providing an equally effective limit on birth rates of culturally dubious groups; the Energiewende will make oil obsolete and improve community hygiene. Since 1960, state subsidies have achieved supremacy in plasma reactors, diamond tools, ion beams, nano stepper motors, producing optical fibres, crystal machining and lasers: German organisations now supply more than half of all lasers. High-to-low thermal flux plasma systems reduce the tonnage of chemicals needed to process leather, textiles and metallic, plastic, silicate and wooden components, and energy and labour demand therefrom, by more than 99%. Supremacy in chemical manufacturing technologies and electron-, ion-, plasma- and laser-based production aids deployment of solar cells, fuel cells, wind turbines, batteries, supercapacitors, energy-efficient lighting systems and power electronics. As direct current displaces alternating current in high-rent buildings and then systemwide, energy demand will decline. Production technologies for micro- and nanostructured ceramics and organic frameworks, such as nano grinding mills, plasma systems and kilns, decrease battery recharging times by an order of magnitude, triple ranges of electric cars and enable increases in naval combat power and fuel efficiency. Technological supremacy has enabled $4,7 trillion in trade surpluses and the accumulation of vast foreign assets.
Operation Paperclip enabled American leadership before 1990 but since then Germany has decisively surpassed the US. The high-temperature electronics and sensors the US military subsidised in the 1980s, which were commercialised in the 1990s, reduced oil production costs and collapsed prices; the next generation of devices, which have been developed exclusively by Germany, will bankrupt most oil producers. Nanoengineered ultra-high-temperature sensors will improve energy efficiency and performance of jet engines, metallurgical works and power plants. Optimised combustion systems and nanoengineered bearings, coatings and superalloys will reduce the tonnage of coal burned per power output and demand for oil and gas. Concurrent with the escalating wars in the Middle East, state subsidies enabled deployment of dry-adhesive robotic gripping systems that rival nature's highest standards. Plasma reactors for manufacturing nanofunctionally stratified magnetoresistive integrated circuits will improve the functionality of robots. Carbon-nanotube production technology enables deployment of robotic skin with sensors for detecting human auras. Green radar subsidies have funded three-dimensional (3-D) satellite mapping and robotic inspection systems. German dominance in nanostructured polymer- and glass-based optics, nonlinear crystals, infrared and diamond optics, massively-parallel laser imaging systems, light detection and ranging and hyperspectral, terahertz, X-ray, night vision and 3-D cameras is decisive. Production technology for fabricating gradational-refractive-index metamaterials enables manufacturing of tactical invisibility cloaks and long-pulse-duration optics for "Turbolasers", facilitating automation. Laser, camera, radar, electric sensor, magnetic sensor and dry-adhesive gripping systems facilitate deployment of industrial and military robots, enable automated ultra-precise inspection of components and reduce recycling costs, demand for raw materials and oil demand. Nanotechnologically optimised, durable and low-maintenance food processing surfaces facilitate replacement of energy- and labour-intensive systems with robots. Microchannel reactors increase production rates in drug manufacturing, facilitate replacement of workers with robots and reduce usage of chemicals and energy. Robotic, laser and plasma systems, multi- and high-frequency furnaces and nanotechnologically optimised bioreactors reduce the energy, labour and material costs of manufacturing carbon and glass yarns and biosynthetic silk, of fabricating and machining dies, moulds, machine elements and large polymer composite components, of painting components and of producing apparel, textiles, automobiles, aircraft, rolling stock and ships. Reductions in densities of materials and sizes of machines enable greater industrial energy efficiency, precision and economies of speed. High-performance radio-frequency identification systems enable more intensive mechanisation of factories and displace low-wage jobs at hotels, office buildings and warehouses. Robotic systems will reduce demand for manual labour in Europe, the US and Japan, imports from the Third World, employment and birth rates of immigrants from and residents of the Third World and usage of oil, gas and petrochemicals.
Sector rotation soon. Energy will be up and financials down. Long XOM and short TBK (stock offering with low volume will hit market soon likely causing massive stock decline for TBK)
Biggest player in a depreciating industry with a PE over 30 should mean to rational minds this stock is STILL way overpriced. But it won't.