May. 30 at 5:18 PM
$MMAT $FANG $VNOM $XOM
Before the 1973 Middle East oil crisis, a barrel of crude oil in the USA was about
$3; after the crisis it was about
$12; an increase of about 4X. Over time, the price did not go back to
$3. Time. Will. Tell. if history will rhyme/repeat.
A BIG shout out to Mr. Doomberg for pointing out that, following the current Middle East oil crisis......some who can, will....so to speak.
Many countries will take steps to reduce/eliminate dependence on Middle East oil. That will require very, very, very large investments in oil production and/or storage facilities of crude oil and/or finished petroleum products. Because of those investments....the worldwide price of crude oil may NEVER return to "normal." Time. Will. Tell.
https://newsletter.doomberg.com/p/contrarian-indicators?utm_source=post-email-title&publication_id=343139&post_id=198717953&utm_campaign=email-post-title&isFreemail=true&r=12mk3u&triedRedirect=true&utm_medium=email
