This is one of those moments in life; where every atom in the wind cuts against you and blows with all its terrible might just for the sake of getting you to give up. There is no real logic to why it does this, other than that if you give in, it will be your undoing.
Today’s big move lower in oil (again) is gripping the market with fear and my positions are selling off hard. I am down another 3.5% today taking quite a beating. I have a loss for the year. I feel disheartened.
It’s in this moment that I know I have to hold out, if just for a little while longer yet.
The point of this selloff is to break my spirit. I don’t trust financial markets at all. They are filled to the brim with treacherous men acting without morals. I will not give in to this, whatever it is. If it is simply fear, I will rise above it. If it is something more sinister – an intentional move to steal that which is mine – I shall break the culprits in half.
I will not just throw away such a treasure as the US fracking boom. It holds our future.
The days of OPEC are coming to an end. The days of dealing with black handed foreign regimes will go with them. And the US shall be awash in domestic energy for many decades because of it.
Like Armour himself before me, if I must go bankrupt on this dream then so be it. Send the ships.
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this is your Billy moment. You know, Dutch’s #2 guy in Predator.
Cain, if this laughably obvious ploy of essentially a political Hail Mary works, and the Keystone Pipeline gets passed very soon, how do you see that affecting WTI and the US Oil boom? What are your thoughts about the impact if it ever gets approved? Thanks.
WTI-Brent spread would contract significantly over time.
Average energy/consumer prices would edge up marginally as market forces reversed the supply glut/buyer’s market in Cushing, OK.
US exports would soar, mostly denominated in oil.
Another round of civil wars would race through third world countries, as their budgets came under pressure.