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Strategies & Market Trends : The Aristocrats (tm)

NNVC 2.030

+22.3%

9:30 AM EST

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To: sense who wrote (2218)	2/19/2021 8:38:39 PM
From: sense	of 5603

BP vs. CVX. An interesting follow up... Chevron up 0.84% percent today... BP up 1.83%... although CVX added another 0.2% after hours, to even it up a bit. That on a day with the March 21 contract down 2.5%. As previously noted, the big companies have been left a bit behind in the recent run up in oil shares... and may drift higher for a while catching up. During that time we'll find out if oil is "leveling off" here to hold near $60 in a trading range after correcting lower for a few days or weeks... if oil corrects further with the economic situation worsening... or moves higher after a break, in sympathy along with other commodities, given growing inflation risks... My bias is still for the later case... although without the urgency seen in the run up over the last month. The feel... given recent changes... is not much different than the "stagflation" of the Nixon era... although the virus and other factors... the degree of probable political stupidity included... are different. Still bullish on oil in the long term... but in cash now for reasons other than "just" oil prices reaching a pause... But the reason for this post: noted this headline, that has the two oil giants teaming up on a joint venture in a private Canadian company... doing something I've wondered why no one is doing... Big Oil Invests In Geothermal Energy Breakthrough It notes it as "not fracking"... but clearly would require some expertise in going deep with particular skill in using directional drilling at depth... and high temperature... which it seems CVX trusts BP to do ? Maybe less of a market issue for big oil companies... and more of an issue for drilling contractors... giving them something other than oil to be drilling for... that's "green compliant"... although geothermal projects draw their fair share of NIMBY objectors. It's not a public company... so an opening in the green-o-sphere for competition... .

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