When do you think we'll see a new ATH in Oil? 🤔🛢️ \ stacker news ~charts_and

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When do you think we'll see a new ATH in Oil? 🤔🛢️

274 sats \ 3 comments \ @flat24 9 Apr charts_and_numbers

Oil 🛢️ is in a clear upward trend 📈

We know that valuable resources and assets will become increasingly expensive. Aside from their scarcity, there's also the devaluation of money due to constant, excessive monetary expansion and the constant, magical creation of new capital (banks 🏦 granting loans).

So, considering oil as the main source of energy that moves the world, It's only a matter of time before we see its price surpass old highs, highs that, curiously or by chance, were reached in 2008. Nothing that happens on the charts is by chance; everything can be explained by the fractal nature of the price.

What do the stackers think? 🤔🤠 Will we reach new highs this decade, or in the next?

This decade100.0%

2030s decade0.0%

2040s decade 0.0%

2050s decade0.0%

3 votes \ poll ended

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10 sats \ 0 replies \ @justin_shocknet 9 Apr

In dollar terms? That has nothing to do with the price of oil, but rather the price of the dollar, which is a coin toss given the end of the dollar globalism.

If adjusting the barrel/dollar price for overall dollar supply then I doubt it ever hits a new ATH. The US needs to double energy production and won't be able to do it with oil, which means new infrastructure long term that creates demand destruction for oil. Global demographic collapse is another headwind for oil.

For energy exposure, long Uranium miners, SMR's, and Tesla.

10 sats \ 1 reply \ @grayruby 9 Apr

Oil and gas development has been underfunded for over a decade now due to ESG investment mandates. Many of those mandates are now gone but these projects have a long lead time so any threat to middle east supply and we could easily see oil at 150. There will be immense political pressure to not allow that to happen so I am not sure it will happen this decade but that's what I picked. 2030s might be more likely though.

40 sats \ 0 replies \ @flat24 OP 9 Apr

I personally think that this will happen after the 2030s ....

I think they have been moved years and nothing related to years of peace. And that will force further the rising price of the main assets and raw materials of the world.