Two year pandemic reducing overall oil output sending prices downhill had very little to do with things.
Oil companies wanting to recoup had very little to do with things.
Special arrangements made after the Saudis flooded the USA with dirt cheap oil en masse to drive prices into the NEGATIVE per barrel had nothing to with anything.
Nope. Jan 21st, 2021 was 90%+ of all the problem. Nothing set in motion prior had much impact.
If that Trump gave no help at all to the oil companies profit margins, it makes you wonder what they ever saw in him.
Biden’s the oil baron’s hero.
You see the corporate oil POV. I get that. It’s your territory. I’m an outsider to oil. I was an investor a few times. I could tell you a few things about the pharmaceutical industry – I worked for them for a bit – but oil I only ever researched as an investor, so I paid attention to insider trading, money flow, new energies, energy future (remember Enron – I stayed clear of that) – etc. But that was 20 years ago.
So, maybe they all had a change, I dunno.
My last oil stock was QUESTAR, a tiny little natural gas transportation company running from Texas through the midwest somewhere.
That was one of my favorite investments; I got in when oil was doing shitty after 9/11. Everybody ran away from oil – I think there was a bad spill – so I ran TOWARDS it and sapped up a bunch of investments and it worked out great.
I mean, I have my house in Florida in part thanks to timing oil stocks among others (Africa too).
Selling off Questar though; that was sad. It was my last. They had dividends they paid, got to watch the baby grow and grow over time from a distressed beginning it didn’t deserve.