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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 53.91

+8.6%

Jan 9 4:00 PM EST

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To: Turtles_win who wrote (135881)	4/11/2020 10:03:21 AM
From: robert b furman	3 Recommendations Recommended By berniel Machaon toccodolce Read Replies (2) of 207747

This is a buy of a lifetime (thinking long term). Both oil and natural gas will be around a long time. EXXON is a science company utilizing upgraded hydrocarbons for synthetic oil,polypropylene, polyethylene,paraxylene,and a whole lot of common distillates gas,diesel and higher volatile gasses and fluids. At $45.00 (ah) they are up $14.00 to $15.00 from the spike bottom. I doubt it will ever be seen again. XOM has always talked about the dividend being grown and safe. If it was not increased it would be more than OK, but not to XOM's management. Ditto Chevron(it's already up $34.20 from its spike bottom)! CVX has confirmed it's dividend is safe for this year. By the time we restart, a lot of excess oil will be placed in the SPR. We import very little crude (based on what refinery is discussed). Allowing ships from the gulf to transport to the East Coast is smart. The old Jones act is outdated. Time to cut the red tape and become efficient. Our exports are often refined products (to Mexico and back to Canada). We are basically self sufficient. Some must come and some does go. For us to cut production, more than likely will draw down storage and then raise prices over time. I say top off the SPR and let Capex cuts reduce storage. Price will gravitate higher. Keep in mind Ultra Deep Water drilling will diminish as Capex has been shut down for three years now. Last year we gained from the Gulf of Mexico and this year Guyana comes on stream. Fracking turns on and off on a dime. Libya, Iran, Iraq, Nigeria, more than likely have vastly reduced Capex as well. The one good thing about this whole fiasco is all the hype about EV's and cheap renewables has been thrown out the window. Those lies have been replaced with more important realities. I've tucked XOM and CVX into my dividend account for long term buy and hold. Bob

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