The Price of Oil
The price of oil is dropping. This is an achievement that President Trump views as monumental.
It’s more important to him, at this very moment, than the damage the markets are suffering.
In chess, you must sacrifice some pawns for victory and to protect the king.
The United States of America runs on fuel. Truckers cross it via supply routes, lasting miles, and what the average person pays at the pump is a daily reminder of the president’s success or failure.
Softening inflation is great for interest rates, mortgages, and households that want to keep more of their income in their pockets at the end of the month.
When you Drill, Baby, Drill, the idea is to make regulations sensible and free from constraints that will not lead to results.
The American economy consumes just over 20M barrels of oil a day, and current production is near all-time highs of just under 14M barrels, so the ability to achieve full independence is still far away.
Chris Wright, the Secretary of Energy, considered by many to be the most skilled ever, has said prices could still go lower while the shale oil industry remains profitable. That’s the pressure needed to weaken Canada, Saudi Arabia, Russia, and Iran.
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The United States is the biggest oil producer, with 40% more barrels of oil a day than its closest competitors.
Getting out of the Paris Climate Accord is just another way of telling China that they can’t make the U.S. leadership look “dirty,” in regards to fossil fuels, while they build a coal empire over there.
This is not a moral war… it’s a real one.
The focus is back to common sense, and you can’t double your electrical output and protect A.I. supremacy, while the other side uses Western liberal values to weaponize the use of fossil fuels just so environmentalists can celebrate saving a snail, while the country, as a whole, goes down the tubes.
Nations aren’t run on the whims of interest groups; they rise and fall based on leadership decisions.
This can backfire on American jobs if the price drops so much that the OPEC cartel floods the supply and American energy companies are forced to slow.
This is the back-and-forth that must happen behind the scenes, though no one knows.
I don’t really buy into the rally on Friday…
I still feel there are many issues that need to be addressed and many risks that it will get worse before it gets better.
Lower oil prices open the door to military strikes (like Israel’s IDF against the Islamic Iranian leadership).
The storm hasn’t cleared.
I am not bullish on stocks. Yet.
Best Regards,
FutureMoneyTrends.com
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