/biz/ - Business & Finance

[Anonymous No.23139824]

Big oil isn't going anywhere. XOM will make you filthy rich.

[Anonymous No.23139832]

>>23139824
Yes, if you can wait of course

[Anonymous No.23139844]

fossil fuels are dead retard.

[Anonymous No.23139890]

>>23139844

yeah two bilion vehicles in the US alone running on fossil fuels. It's dead for sure.

[Anonymous No.23139922]

>>23139890
and in 10 years that number will be cut in half.
and then again in an additional 5 years.
what then?

[Anonymous No.23139926]

>>23139824
I'm thinking about buying a lot of oil stock some time between Biden winning election and shortly after his inauguration. It will dump short-term but once the rona magically disappears under his administration, expect gas prices to moon again

[Anonymous No.23139947]

>>23139824
You're confusing the use of oil with a high price. Saudi Arabia can and will continue to keep the price lower as long as they can gain market share.

[Anonymous No.23139969]

>>23139922
You don't honestly think that in 10 years half of the current automobiles on the road will be powered by non-fossil fuels, do you?

[Anonymous No.23140015]

>>23139926
>biden
>win
Good joke.

[Anonymous No.23140040]

>>23139969
yes, I do.
dump your oil positions and go all in on salt mines.
trust me.

[Anonymous No.23140055]

>>23139969
if the tyrannical government subsidizes electric and taxes gasoline it will be

[Anonymous No.23140091]

>>23139824
idk, teslas seem popular and high on the list as everyones "next car"

[Anonymous No.23140102]

>>23139844
>>23139922
True but the industry still has value even if decaying. Usually it's in times like this that opportunities come up because everyone is thinking like you. With that said, I'm not saying to buy because I, like you, have overlooked it a lot and don't even know what's a good play. I'd have to analyse first.

[Anonymous No.23140154]

>>23139824
Oh god that chart looks fucking dreadful. I used to work for a wealth management firm who’s prime client base was for XOM. Those employee stock options got JUSTED

[Anonymous No.23140173]

Can you imagine jesus in the garden gethesemne and the devil appraoches him and says
"I got that crude, 35 bucks a share. I can make you filthy rich."

I do not wish to xontribute to the rape and dehumanization of the planet.

[Anonymous No.23140182]

>>23139926
Then go into Valero and Phillips 66 ( you know there are oil companies that lose money when gas goes up but crude goes down)
>>23140055
We (The U.S.) currently have huge subsidies for gas and oil, if we ended those they wouldn't even dominate the market.

[Anonymous No.23140211]

>>23140182
name the subsidies that they get that aren't comparable to any other business

[Anonymous No.23140249]

I dont get it. Oil stock has been falling for 5 years. Whats gonna change?

[Anonymous No.23140365]

>>23139922
>10 years that number cut in half
Ahahahahaha
Niqqa u dum

[Anonymous No.23140378]

>>23140249
>Whats gonna change?
Wuflu disappearing and people driving again

[Anonymous No.23140401]

>>23140211
>that aren't comparable to other businesses
Oh my I guess you've stymied me because lots of non oil companies use foreign Tax credits,LIFO, and depreciation.
Unless you count the ones specifically about that industry, wherein they get a benefit that American widget producers do not.
Intangible Drilling Costs Deduction (26 U.S. Code § 263. ) and
Percentage Depletion (26 U.S. Code § 613. Active).


Depletion is an accounting method that works much like depreciation, allowing businesses to deduct a certain amount from their taxable income as a reflection of declining production from a reserve over time. However, with standard cost depletion, if a firm were to extract 10 percent of recoverable oil from a property, the depletion expense would be ten percent of capital costs. In contrast, percentage depletion allows firms to deduct a set percentage from their taxable income. Because percentage depletion is not based on capital costs, total deductions can exceed capital costs. This provision is limited to independent producers and royalty owners.

[Anonymous No.23140421]

>crudeoilfags get BTFO and become tankerfags
>tankerfags get BTFO and become biotechfags
>biotechfags get BTFO and become refinedoilfags
Wonder what the next dumb sector will be. Guessing Airlines or Malls.

[Anonymous No.23140456]

>>23140173
This is honestly the best answer.

[Anonymous No.23140499]

>>23139824
Chevron is the best oil play right now imo, they are in better shape than Exxon. The div yield isn't as high but Chevron is more committed to maintaining their div than Exxon

[Anonymous No.23140527]

>>23140421
I am long term bullish on malls and mall REITs.

[Anonymous No.23140879]

>>23139824
XOM?! HAHAHAHAHA. Oh anon.

If you want oil in crypto, don't look to RLC, look into BonFi.

[Anonymous No.23141045]

>>23140499
CVX and XOM are virtually the same.
>CVX more committed to keeping their dividend
Nah XOM told all current employees to bend over for their shareholders. Both companies are in a prisoners dilemma where the best play is for both to suspend the div, but one can't suspend because that would give the other the upper hand, so both companies are acting retarded and keeping their div

>XOM hasn't missed/lowered their div in 37 years
>XOM still matches 401(k) contributions with XOM stock instead of cash like literally every other American company (including CVX since 2014)

Both of these stocks are retarded and were poor choices to invest in back in March compared to shit like tech where AMZN was $1600

[Anonymous No.23141596]

>>23139922
suburbanization is growing America. = more need for oil in the next 10 years. after that EV will start coming around more, but for now they cost to much for the average Joe.

[Anonymous No.23141903]

>>23140173
Whatever faggot

[Anonymous No.23141971]

Imagine not going all in on tech stocks. I have a portfolio rolling 100%+ a year and you want to hold fucking XOM, a guaranteed long term GE style play? The slow grind into irrelevancy? Being squeezed out of your largest market into plastics, which China manufactures en masse (aka, no profit)? PLEASE GOD do NOT invest in literal shit. If you do, you deserve to lose everything.

[Anonymous No.23141992]

>>23140378
I live in California
The fucking freeway is packed every single day

[Anonymous No.23142082]

>>23141992
So do I. Traffic is still low compared to normal.

[Anonymous No.23142176]

>>23142082
>>23141992
>CALIFAGS

[Anonymous No.23142213]

>>23142176
I just moved here desu

[Anonymous No.23142217]

>>23139922
Just hedge with nickel and copper then. What can go wrong?

[Anonymous No.23142659]

>>23141045
In hindsight sure AMZN was the better buy then obviously. Personally income stocks are the only ones I can really understand and predict though. And in general why invest in tech stocks when you could invest in chainlink

[Anonymous No.23142743]

>>23140401
Thank you for taking the time to say that

[Anonymous No.23142788]

>>23139922
Can I introduce you to India, China & Africa?

[Anonymous No.23142817]

>>23139824
True. Maybe not just XOM tho, and you will need to hold for a while. If you have a hodl strategy and just keep putting $ in, you will safely 5-10x at least over the next decade + dividends.

[Anonymous No.23142839]

>>23141971
newfag confirmed

[Anonymous No.23142989]

>>23139824
>>23139922
Ive read the articles the idea is for ICE vehicle to be cut in half by 2040 so there is still alot of time as it relates to stocks(it will go up then go off a cliff later) Also the infrastructure is not there yet. that said if the dems win and institute the 100 trillion dollar green new deal then yes you could see ICE vehicle drop in usage rapidly as they'd likely tax usuage.

[Anonymous No.23143094]

>>23142788
Every year millions of Cars break down and have to be replaced, When options on the market increasingly become electric what do thing will happen. So while ICE vehicles may never die, there usage will become so low that oil companies will not be able to make the profit they once enjoyed. Oil producing will probably become localized in the form of carbon to fuel capturing.

[Anonymous No.23143490]

>>23139890
y is there 8x as many cars as people? is this bearish for automakers.

[Anonymous No.23144206]

New electric cars are already a better deal then new Ice's right now
And that's just the principal, running costs are lower too
>Except for Tesla, those are overpriced low quality status symbols

[Anonymous No.23144273]

>>23139824
Been watching this and waiting. I have my buy orders at $31

[Anonymous No.23144279]

>>23143094
This will happen perhaps, but not this side of 2040. You are not considering the market properly if all you talk about is car mileage in the USA.

[Anonymous No.23144306]

>>23139824
What coin is this?

[Anonymous No.23144321]

>>23139824
shit investment. XOM hasn't been anywhere near $100 in a long time. You'd be lucky if it hits $60 in 10 years.

the amount of money you'd need to throw at this to see any worthwhile return would be so high that you wouldn't even bother investing in crap like this in the first place.

[Anonymous No.23144391]

>>23144321
Slow not shit. It will pass $100, but it will take a while. It is useful if you have a LOT of money. Not helpful if you have a small amount of money and need to yolo every trade to get somewhere.

[Anonymous No.23145160]

>>23140421
>>Renewable energy fags get BTFO

Anyone remember this? There was a company with an office shilling wind farming and other shit investments on my main Street until they went bust
Sad