Quote:
Originally Posted by Perfectlap
I believe it's because the perception of future demand has finally fallen in line with the reality. Even back when crude was above $100 global production was outpacing actual consumption. At those inflated prices everyone turned on the spigot because costs could be recouped and still turn a big profit. But now that China has hit their inevitable slow down from a series of unsurprising financial mistakes the bidders seem to be back firmly on planet Earth. Asia and the Euro zone have some problems that aren't gong away anytime soon no matter what happens in Russia.
Instead of diamonds and gold I'm buying stock in these energy companies that pay out decent dividends.
Energy is still in the top four of best asset classes over 20 the last years, even at $2 gas those guys have no shortage of customers.
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Check the timing on the oil downturn, it started pretty close to when Putin invaded Ukraine. But that's okay, hubby doesn't believe me either.
I agree and I am keeping a close eye on Exxon and Chevron, I think they can drop a little more.
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