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In Reply to: Another popular explanation - posted by Victor Khomenko on May 12, 2022 at 06:27:58:
The oil and gas companies have enough oil and gas wells. They wised up this time and decided they weren't going to produce more in order to drive up the cost/barrel. Each time in the past when oil prices went up production followed driving the prices back down. They thrived on thin margins before with a boom and bust cycle. Now they are looking to break the cycle. $100+/barrel oil and making big bucks is a lot better story to shareholders than $40/barrel oil and scraping by.
You have seen the many posts of the big profits that oil companies are reporting the last three quarters. Do you think the strategy is working out for them?
If you follow it deeper you would find out a lot of this is intertwined with the Rump imposed tariffs.
Moral of the story.....buy stock in oil and gas companies. I'm betting on Cottera Energy.
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Follow Ups
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- They are moving as fast as the can... - Ivan303 10:13:47 05/12/22 (5)
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- Fantasyland. Leaving aside your dumbass climate change views..... - Rick W 14:01:35 05/12/22 (3)
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- Dim too. nt - Rick W 13:57:27 05/13/22 (0)