**by Christopher M. Matthews, The Wall Street Journal, 2/1/2022**
**The world’s big Western oil companies are back in the money and once again attracting strong interest from investors as crude prices rise to their highest levels in years...**
**Exxon and Chevron are predicting a multiyear upswing for the industry as oil and gas demand surges from the depths of the pandemic and investment in new production slows. The strong results have lured investors to a sector many left for dead....**
**The companies are benefiting from rapidly rising commodity prices as demand for some fuels, including U.S. gasoline consumption, have topped their pre-pandemic levels. Crucially for investors, many of the companies are sticking to pledges to moderate their growth and return more cash to shareholders.....** [end quote]
I bought XOM in March 2020, when Russia and Saudi Arabia were having a p!$$!ng contest and the price of oil was negative. This was one of my best investments (8% dividend yield) and I wish I had had the conviction to buy much more.
I bought XOM in March 2020, when Russia and Saudi Arabia were having a p!$$!ng contest and the price of oil was negative. This was one of my best investments (8% dividend yield) and I wish I had had the conviction to buy much more.
I bought XOM in March 2020, when Russia and Saudi Arabia were having a p!$$!ng contest and the price of oil was negative. This was one of my best investments (8% dividend yield) and I wish I had had the conviction to buy much more.
I bought some XOM, CVX, and XLE around then (yes, I now realize that that combination is rather redundant, I bought the ETF without even looking at the components). I also bought only a small amount because it was primarily as a “hedge” because I expected energy costs to rise in the coming years for various reasons (more expensive regulation, more electric use, etc). Once I realized that the transition from fossil fuels to renewables was going to take a few decades rather than years or a decade, I should have bought more. However, it is nearing the time to sell them, either after oil blows through $100/bbl or when the Ukraine war starts, or maybe after both.
I did own small amounts of XOM on and off since 2015. But mostly off since I usually don’t like investing in capital intensive businesses.
Also looks like I sold all my AT&T just in time … I simply got tired of their shenanigans with media, so I’m done with them for good … owned some on and off since the early 80s when I worked for them!
Once I realized that <b<the transition from fossil fuels to renewables was going to take a few decades rather than years …
Amazing how many enthusiastically fell for that impossible story isn’t it?
That and the Germans replacing coal, Lignite, Nat gas and nuclear with windmills and solar panels totally lacked reality. Germany is neither very sunny nor reliably windy. Angela picked a really good time to retire. Now the Germans are desperately trying to stay on the happy side with Putin (their contribution to the Ukrainian defense was to offer to send them a bunch of helmets). }};-@
‘It’s a joke’: Germany’s offer of 5,000 helmets to Ukraine is met with disdain amid Russia invasion fears
Germany to send Ukraine weapons in historic shift on military aid www.politico.eu/article/ukraine-war-russia-germany-still-blo…
Germany on Saturday reversed a historic policy of never sending weapons to conflict zones, saying the Russian invasion of Ukraine was an epochal moment that imperiled the entire post-World War II order across Europe. The decision was an abrupt change in course, coming after Berlin clung to its initial position for weeks despite the rising Russian menace and pressure from EU and NATO allies…
From its own stockpile, the German government will send 1,000 anti-tank weapons and 500 Stinger anti-aircraft defense systems to Ukraine. The government has also authorized the Netherlands to send Ukraine 400 rocket-propelled grenade launchers and told Estonia it ship over send nine howitzers.
