It has been a great year for energy stocks as the chart below clearly reveals…
… and it will be an even better year (and decade) for energy stocks.
Why? Not because of what Goldman trader Michael Sullivan wrote last week explaining why Energy has (finally) become everyone’s favorite sector (more than two years after we first told our readers to go balls to the wall long XOM):
“Energy continues to lead. When oil is up. When oil is down. When yields are up, or when they are down. When the US is threatening Windfall Profits Taxes or considering limits on product exports. Whether the market is hiding in defensives or shifting to more offensive positioning … maybe energy equities are leading because the market sees a pretty good set-up for oil: (1) US SPR release rate is slowing; (2) EU sanctions on Russian sea borne crude are expected to start in Dec; (3) we are passing peak refining maintenance and at the onset of winter — both of which should drive a sequential increase in demand; (4) distillate inventories are extremely low and subject to upside risks, link; (5) a Fed pivot would likely support inflows into commodities — implying a weaker dollar — every 10% move in the dollar is about 300k/d to oil demand on an annual basis.”
It’s not because of what One River CIO Eric Peters wrote in his latest weekend note:
“The UN forecasts that world population will pass eight billion next week,” said the energy executive. “One billion of us lack proper access to energy,” she continued. “And we are currently consuming 100mm barrels of oil per day.” That is double what it was 50yrs ago (still rising 1.5% per year). The IEA predicts consumption of 125mm barrels per day by mid-century if the current mix of policies continues. “India’s population will surpass China’s next year,” she said. India GDP per capita is $2,500 (China is $14,340). India is striving to catch up. “In the decades ahead, 90% of the world population will demand more energy.”
It’s because of what Joe Biden let slip just two days before the midterms, namely what everyone always knew would be the pinnacle of catastrophic US energy policy under the democrats: “no more drilling”
GOTCHA !!! Biden is caught again !!! He will GO TO PRISON before that happens !!!!!
He also said he Closing down C O A L !!!!! Not happening !!!!
He can’t Screw America Enough to satisfy the LEFT !!!! What is NEXT ???? You Don’t Want to Know !!!!
Already Signs of Dirty Election this Time , like in Arizona !!!! Plus > Mail in / Drop Boxes / Ballots !!!!
Just Voted in SALISBURY , MD today & NO VOTER ID cked , just like before, they never asked
or wanted to see mine when I offered it !!! They even looked the other way when I held it in
front of them .
They still SCAN the Ballot into the MACHINE ( probably with Dominion Software ) Like Before !!!!
Looks like 2020 All over again to me !!!! I say use NO electronics should be used & CK ID’s !
Plus the Circles are > Too small < on the Ballots !!!!
This needs to be greatly publicized!
Pedo-Slow-Joe is abdicating the security of our country for utopian green energy!
That should be an impeachable offense!
F – Biden
Roughly 730 days to go.
its NOT Biden – its all Obama agenda – seriously think that idiot could come up with ideas? He is home in Deleware sniffing little girls.
Election SYSTEM not fixed !!! Still using Electronics (Dirty Software) / Drop Boxes / Mail-in To CHEAT !!!