Resident_Magician109 t1_j2794ou wrote on December 30, 2022 at 3:45 AM

Reply to comment by Ancient_Implement_30 in Oil is not my friend by Forsaken-Secret-7398

Remember, we were releasing 1 million bbl a day for much of this year and we weren't the only country releasing reserves. Additionally 1/7th of the world's population has been on lockdown on and off. Also, most projections have peak global demand somewhere around a decade from now with sustained consumption around today's level until 2050 or so.

I don't know what next year holds, but that was my thesis getting in back in 2020.

Right now my biggest holding is in ET which is currently paying roughly 8% in dividends and plans to raise dividends to over 10% current value by Q1.

I hope the price dips 30% next year. I wouldn't mind accumulating 15% additional shares.

Ancient_Implement_30 t1_j27h71a wrote on December 30, 2022 at 4:51 AM

That’s all fine.

I am looking at historically. Only twice has oil gone above $100/ppb in consecutive years. Late 70s with Iran. And during the last bush war.

That’s it. Well, also 1860s. But that’s way out there.