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One subscriber to my service continues to email me, completely pessimistic about oil and oil stocks. They are just hated, he says – by investors, by Trump, by the coming wave of renewables that will erase them from the S+P as investable assets.
There is no doubt that oil stocks have traded horribly. Nor any doubt that the President has shown himself willing to do anything in his power to keep drilling volumes up, regulation down and apply pressure on OPEC, all of which combines to grenade oil prices and the domestic oil space.