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- Manlobbi
Halls of Shrewd'm / US Policy
No. of Recommendations: 4
Also from the Fool board: Exxon and Chevron ringing alarms about falling crude inventories.
Late news reported that Trump the Conqueror has not made a decision on the proposal for a framework, for talking points, for discussions about having talks, with Iran, in spite of all the cheery noises the media has been making.
Oil Price Close to Explodinghttps://discussion.fool.com/t/oil-price-close-to-e...Steve
No. of Recommendations: 1
steve, dont leave us hanging on trump's grand strategy...are you doubling new money into integrated supermajors now that oil < $90\b ?
when do we see start of sustained $140/b ?
on an interesting note, profit growth is much higher to those involved in refining and distribution (depots, fuel stations, pipes, etc..).
possibly due to greater activity exposed to spot rather than futures.
profit growth on crude remains rather modest, so sounds like the perfect setup for rightwing media to claim how little 'drillers' are making!
No. of Recommendations: 2
steve, dont leave us hanging on trump's grand strategy...are you doubling new money into integrated supermajors now that oil < $90\b ?
when do we see start of sustained $140/b ?I added 1000 shares of XOM last January. I have had similar positions in COP and CVX since the summer of 2024, when the Trump crowd was declaring it's dedication to the care and feeding of big oil. I am comfortable with my current allocation. Unlike during the Bush junta, when I put 100% of my IRA in big oil in Jan/Feb, and cashed in on the inevitable, and repeating, shortage/price hysteria every spring, before cashing out, this situation could reverse more quickly. Israeli elections could give everyone a big pooburger to eat by electing someone other than either of the two war parties, which would collapse the US' motivation for carrying on the war.
*****ripped from the headlines*****
Fri, May 29, 2026
‘Less Than $200 in Extra Gasoline Cost’: Scott Bessent Attempts to Quiet Economic Fears
During an appearance at the 2026 Reagan National Economic Forum on Friday, Treasury Secretary Scott Bessent, in an attempt to quiet fears on the economy, said that Americans were only facing “less than $200 in extra gasoline cost.”
“The war will end. We’ll get to the other side of this,” Bessent promised the crowd on Friday. “The economy has been very resilient through all this. You know, look — for many families, it’s not nothing. But, it’s been less than $200 in extra gasoline cost,”
Per CNBC anchor Steve Liesman on Friday morning, however, the war in Iran has cost Americans an extra $59 billion on gas, diesel, and jet fuel since it started in February.
He went on to emphasize that this year’s larger-than-expected tax refunds aren’t large enough to cover the extra gas cost for each American, with an average of $447 each in extra costs versus a $384 average refund increase — notably more than Bessent’s cited $200.
The CNBC anchor concluded, using Zandi’s estimates, that “if we go on the way we’ve been going, prices stay at the current level, it’s gonna be about a $2,000 hit per household” by the war’s first anniversary.https://currently.att.yahoo.com/finance/economy/ar...Trump openly said he doesn't care what Proles pay for gas. We don't figure in his calculus at all.
Steve
No. of Recommendations: 2
so despite your belief in trump's grand strategy for oil, it sounds like you have not put in any new money since american ships started moving to the gulf.
not on any strategic reserves depletion updates. not on any estimate of sustained >$120/b crude. not on this dip.
got it.
No. of Recommendations: 3
...so despite your belief in trump's grand strategy for oil, it sounds like you have not put in any new money since american ships started moving to the gulf.
Correct, because I had the positions I wanted, for his made up war, *before* he started his made up war.
Steve
No. of Recommendations: 2
Correct, because I had the positions I wanted, for his made up war, *before* he started his made up war.
Steve
Good for you Steve. Happy for ya.
No. of Recommendations: 0
Good for you Steve. Happy for ya.
Makes up for some of the trades that went the other way.
Steve
