I spent a few minutes at Yahoo finance recently going over earnings of two mega-majors, Exxon (XOM) and Chevron (CVX).
Exxon beat expectations, but don’t let that fool you – times are BAD.
And they’re about to get worse. OPEC just increased their output more than they originally said, and both majors said they’re not reducing their output plans for 2025 one barrel – despite oil prices headed towards $50.
It’s simple. More supply = lower prices.
So, where’s an energy investor supposed to go? Dunno – but I suggested BITCOIN. Seems that CRYPTO is the only market that the White House cares about seeing go up right now.
