President Biden stops oil in Alaska, and tweets about it
(twitter.com)
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Transocean, Schlumberger. Those are the only ones I can think of right now.
Both are close to the 52 week high, I'm not sure he's right on this.
But the price of oil can't go much higher without triggering an economic panic over inflation, followed by a recession and crashing back down because of it.
There's really not much gain to be had here, in my opinion.
That's cute, you think the Fed will engineer a recession with piss-weak 5% rates when interest on the national debt is nearing $1,000,000,000,000.00 and the world is seeking alternative payments to the Dollar after watching the US seize Russia's foreign reserves.
To illustrate, tax receipts for 2022 was 4.9T dollars; that's 1/5 of taxes just servicing the debt, before the federal government even pays for shit like the military or gibs for the gibsmedats. On top of that, the feds can't even stay on budget with constant deficit spending and (now suspended) debt-ceiling raises.
Nothing short of austerity or a crippling, capital-D Depression will fix this shitheap of an economy. However, HYPERINFLATION is always on the menu.
That's presuming they can drill enough to put the prices down and they aren't already near capacity.
I wouldn't assume that. You could be right, but in my opinion, oil and gas in general is a bad option right now. You don't want oil to rise more than it already has because demand crumbles. You don't want oil to fall because your investment will.
Time to go for defensive stocks. (not defense stocks, unless you have zero morals).