I predict crude oil price $150 + in the next 2 years14 Jan 2021 20:16
Planting my flag now while oil is below $ 60 per barrel.. why ?
1. Oil is priced in US $
2. US government is printing dollars 24/7 due to coronavirus, eventually this can only lead to 1 thing, inflation
3. Everyone on this planet hates stinky old polluting oil including policymakers
4 .You cannot raise capital to drill for more stinky old oil as we don't need it any more because we all have electric cars, don't we ?
5. When the world wakes up again, as it has in China, we will all be travelling & consuming again like we always have
6. Joe Biden, next US president, hates stinky old oil, therefore lots of free money to invest in wind, solar & renewables, none for stinky old oil
7. News flash.. the world we like to live on relies on fossil fuel and will do for the foreseeable future
8. Supply & demand 101 kicks in, reduced supply, increasing demand = oil prices straight through the roof
9. BP is profitable at $ 35 per barrel, what will there share price be when oil is $150 - $200 per barrel
time will tell