Oil is back from "trash" status. Oil was at a negative price when the Covid crisis hit. . During the downturn last year, lots of pundits were declaring that oil was going to die and go away quickly. Now, pundits are declaring that oil is going to go to $100.
If you listen to Wall Street, you would be buying and selling all day long. Please!
While oil IS going away, it's going to be a very long runway. There are pressures to reduce our reliance on oil, but nothing is going to happen quickly. A major drop-off in oil is 15 to 30 years out.
I have to laugh when anyone makes claims that something is going to change on the dime. Just about all changes are evolutionary, not revolutionary.
The great thing about these “whip saw” predictions is that it provides buying and selling opportunities when overvaluation or undervaluation occurs.
The best way to protect yourself from these whip saw predictions that regularly occur is to simply “think for yourself” and don’t follow the herd.
Be smart, be well-read, be aware and be successful.
