Mar. 12 at 2:50 PM
$DVN On average Devon sells about 2.7 million barrels of oil a week. If they were making 50$ a barrel spot rate they would be profiting
$100 million a week. Pure profit. They have already contracted out for most of the oil previously. But not all, and the taps are wide open now so they can sell as much oil as possible. Profit estimates have gone up from
$4 per share for the year to somewhere's between
$6 and
$10 depening on how long this drags out. Its already going horribly wrong for the administration. Americans never wanted the war and now everyday Americans are paying the price current and coming inflation. Now that the escalation has ramped up, this won't go away as quickly as everyone would like.
But as shareholders, we will get our due.
