Bullish on SCO - Bearish on oil & gas
Now is a good time to load up on SCO. I think over the next couple of weeks it could drop 10% to 15% before really shooting up.
October and November will be a big month gas and oil.
OPAC has decidedly decreased their daily oil production by 100k barrels a day, and the U.S. has been artificially suppressing the cost of oil by digging into their emergency reserves.
Digging into the emergency reserves is not a sustainable. Either the U.S. will stop in the mid to near future and gas prices will steadily climb back up, or we'll exhaust the emergency reserves and gas prices will sky rocket.
To be clear, a lot of people are blaming Russia for rising gas prices, but the truth is that we were only buying 8% of our oil from Russia. Even if Russia withdrawals from Ukraine, gas prices will remain high for some time.
October and November will be a big month gas and oil.
OPAC has decidedly decreased their daily oil production by 100k barrels a day, and the U.S. has been artificially suppressing the cost of oil by digging into their emergency reserves.
Digging into the emergency reserves is not a sustainable. Either the U.S. will stop in the mid to near future and gas prices will steadily climb back up, or we'll exhaust the emergency reserves and gas prices will sky rocket.
To be clear, a lot of people are blaming Russia for rising gas prices, but the truth is that we were only buying 8% of our oil from Russia. Even if Russia withdrawals from Ukraine, gas prices will remain high for some time.