Quote:
Originally Posted by ian c2
Simple answer , gas prices ...
Wait til the next big “see how many feathers we can pluck before the turkey squawks” price hike , and you’ll see even more people parking the Escalades or pickups and dragging the old bug or Honda Civic ...
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I think fuel prices are going to be under pressure for quite a while. Opec and the Sauds don't have near the power they once had. The oil companies that we love to hate have put them in a bind.
The Permian basin can't get oil out and has basically capped wells. A couple of new pipelines are about to come on line and the faucet will be opened back up. SCOOP. And STACK plays in Okla are just being explored and look to be huge.
You know it is bad when the Sauds are going go open their books to the world with the IPO of ARAMCO. A 2 or 3 billion offering. A market cap bigger than Apple and Amazon combined. Over twice the market cap of Exxon/Mobile, BP, Total, and RD Shell combined.
Add in an ever increasing electric car market and the pressure is on.