pull down to refresh
10 sats \ 0 replies \ @justin_shocknet 9 Apr \ on: When do you think we'll see a new ATH in Oil? 🤔🛢️ charts_and_numbers
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.