It's plainly obvious to the lion kingdom that oil is not going to be $20/barrel for very long. Airplanes are going to start flying again. People are going to start commuting again. Elon is not going to eliminate all the world's oil consumption, at least in the next 10 years. It may not reach $40 for a while, but it certainly won't be $20.
For most of the lion kingdom's life, it was at least $30/barrel & that was before the absolutely worthless papiermark became US's currency. The memory of $100 oil is still fresh in the lion kingdom's mind. Today's oil prices are like penny stocks, but for much larger & more established companies instead of startups.
Why the oil sector remanes so beaten down while the rest of the stock market booms is probably because the stock market is entirely funded by the fed & the fed is concentrating the papiermarks into bond funds to lower interest rates.
The other reason it's so beaten down is a lot of people can't afford to part with any of their money for long enough to buy stocks. They need all their money in the short term, to pay their rent & mortgages.
This is another case where the rich & those who have money to put away for a long period are going to clean up, while the poor & those who need all their money right away are going to get screwed. We've seen it happen before.
For most of the lion kingdom's life, it was at least $30/barrel & that was before the absolutely worthless papiermark became US's currency. The memory of $100 oil is still fresh in the lion kingdom's mind. Today's oil prices are like penny stocks, but for much larger & more established companies instead of startups.
Why the oil sector remanes so beaten down while the rest of the stock market booms is probably because the stock market is entirely funded by the fed & the fed is concentrating the papiermarks into bond funds to lower interest rates.
The other reason it's so beaten down is a lot of people can't afford to part with any of their money for long enough to buy stocks. They need all their money in the short term, to pay their rent & mortgages.
This is another case where the rich & those who have money to put away for a long period are going to clean up, while the poor & those who need all their money right away are going to get screwed. We've seen it happen before.
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