Author Topic: Oil stocks are the new tobacco, in ‘death knell phase,’ says Jim Cramer  (Read 2361 times)

rcjordan

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ergophobe

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I think Blackrock's recent announcement suggests Cramer is right. I know that I'm the one who said the RethinkX guy is full of it for saying the petroleum market is going to collapse in 10 years. But a stock is a bet on the future and future potential is quickly priced in. So you don't know the actual market to collapse in 10 years for the stock prices to plummet. You just need more sellers than buyers.

rcjordan

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> Blackrock's recent announcement suggests Cramer is right

Yep.

rcjordan

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Finland: Government Agency Warns Global Oil Industry Is on the Brink of a Meltdown
https://www.vice.com/en_us/article/8848g5/government-agency-warns-global-oil-industry-is-on-the-brink-of-a-meltdown

rcjordan

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<related>
AU:

Private investors won't touch new Coalition-backed coal plant, Labor says | Australia news | The Guardian
https://www.theguardian.com/australia-news/2020/feb/08/private-investors-wont-touch-new-coalition-backed-coal-plant-labor-says

ergophobe

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Investors hate uncertainty and having a coal plant shut down is just one vote away. If Morrison is out and someone like Turnbull is back in, that plant might never make back its investment.

Essential poll: more voters disapprove of Scott Morrison and see him as arrogant
https://www.theguardian.com/australia-news/2020/jan/14/essential-poll-more-voters-disapprove-of-scott-morrison-and-see-him-as-arrogant

Quote
Essential poll: more voters disapprove of Scott Morrison and see him as arrogant
The prime minister’s handling of the bushfire crisis has seen his disapproval rating rise 9 points from 43% in December to 52%

ergophobe

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JP Morgan economists warn climate crisis is threat to human race
Leaked report for world’s major fossil fuel financier says Earth is on unsustainable trajectory

https://www.theguardian.com/environment/2020/feb/21/jp-morgan-economists-warn-climate-crisis-threat-human-race