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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (53586)	3/4/2022 4:29:28 PM
From: Sun Tzu	1 Recommendation Recommended By ajtj99 Respond to of 97529

Yes, but Russian oil is not under embargo and is unlikely to become so unless Putin keeps doing dumb ass things like last night. The rise in oil futures is transitory and does not justify committing resources to new oil rigs. IF Russian oil is ever under embargo (unlikely) then new rigs will be justified. But a CEO should not speculate on such far out possibilities. On the other hand, removing one of the world’s major countries from the global economy will almost certainly result in a global recession and with it a drop in oil demand. So if I were an oil exec, not only I would not be building new capacity, I would consider shutting down my least economical rigs. PS The pentagon says there is no evidence the Russians were shelling the reactor and they only used small fire arms to take it. Truth is always the first casualty of war.