#OOTT The curve is steep in backwardation and the citizens are seeing the effects of the Biden Administration and Green advocates policies. Maybe this is part of the transition team's plan to jack up the price of FF to make the Green initiative more palpable to the citizens.
#OOTT 2/ But of course the best laid plans always have a wrinkle. 'You reap what you sow' and the efforts by Fink, Gore, Bloomberg, Biden and a host of other anti FF advocates has resulted in a truly monumental clusterf$%k . History books will be a fantastic read of this era
#OOTT 3/ and will be a text book case for HBS on how not to run a policy shift. 5+ years of capital starvation for an industry has an effect, especially when the replacement is not all the promoters forecasted. Capital is starting to wake up and sees opportunity. E&P being
#OOTT 4/ asked by the Biden Admin to increase production. With what? After you plan to destroy the industry, asking to bring production back is easier said than done. I fully expect an SPR release in November as OPEC+ stays with their plan. It will have a 2-3 week and
#OOTT 5/ $5-7 price drop. This will be the opportunity to load up (or re load) positions as the global demand picture improves on the reopening. Jet fuel demand is going north and is the final product to return to 2019 levels. $75 is now support. Carry On
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