APOC

Blarghnog

Yep.  The market is looking backwards and in fear. Trumps a wildcard but his energy policy hasn’t varied. It’s pretty clear.  I’ll throw this out there. This is, in my mind, increasingly a clear attempt to break the back of BP (shall we call it the “spiritual legacy of APOC”) and the British empire’s long history in Iranian fields and their 60+ percent insurance share, but that is a deeper conversation. Just look at the unprecedented move they made outright cancelling policies. The real issue is fiscal as well, and that is something I am watching closely. An "insolvent" US Treasury has zero room to play hero. In past cycles, the U.S. could use the SPR or fiscal stimulus to blunt the edge of an oil shock. Not this time. At least not like it has in the past. You’re right, I wouldn’t think it prudent to make long term bets for exactly your reasoning. Things could still change here, and that’s valid. My intend is simply to inject some different thinking, because I don’t share the doomer outlook at the moment. Smart comment. Appreciate it.