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Occidental Petroleum Stock Discussion

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16 hours ago

$Occidental Petroleum (OXY.US)$ clearing 51 $Occidental Petroleum (OXY.US)$

10baggerbamm

18 hours ago

$Occidental Petroleum (OXY.US)$ I wonder how Warren Buffett feels?
Warren Buffett has been building a war chest of cash All Summer Long he's been reducing Bank of America he's been reducing Apple and he built up cash reserves and excess of $325 billion dollars.
it's the largest amount of cash of any company in the world it's in fact larger than the amount of cash that the Federal reserve holds, by a significant percentage.
Warren Buffett was betting on a Harris victory. and he bet that the mar...

72398975 : tariff on oil imports might benefit oxy

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10baggerbamm OP 72398975 : it's not going to benefit any oil company just think for a second remove yourself from this industry of oil.
let's look at gold gold mining companies know their costs the equipment the land as saying refinement the only X Factor they don't know is what they will sell it for in the future because the price is variable and what happened to all of the gold mining stocks when the price of gold went from $1,850 to $2,000 to 2100 to 2200 all the way up to 2800? their stock prices went through the roof because their n commodity profit sword meanwhile the costs are basically fixed.
what would happen to gold mining stocks if the price of gold went to $1,500 an ounce over the next year? the stocks would fall why because they're expenses relative to what they sell the commodity for result in significantly lower profits and or losses. and this is exactly the same within the oil industry and they all get put in the same Venn diagram there's 100% correlation to their profits relative to the commodity price which is oil which is traded on the commodity exchange in the future's Market.
if you go back during Obama administration when oil was 95 100 and 105 and you look at the price of these stocks as a basket they were through the roof because all you heard about was peak oil that terminology was thrown around during the Obama administration on TV as a scam to get people to adopt alternative energy sources solar and wind the beginning of their climate change hoax their money grab. good morning under Trump before covid mind you when oil went negative $23 a barrel but leading up to that oil stocks were for shit because oil was in the low 40s and high 30s a barrel and they were losing money. so now we're at call it 68 to $72 when oil prices go down to the low 40s there's 100% correlation they're going to lose money again and their stock prices fall because Wall Street rewards on higher profits not lower.

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72398975 10baggerbamm OP : I hear you so you are bearish on oil then , but the price of oil is unpredictable same thing as gold or any other commodity. I am not so sure the price of oil will drop to 40s . remember dollars are peg to oil , this is a huge incentive to keep oil prices stable, unless you want to see capital out flow from the U.S.. then all stocks wouldn't fair well as the result of lower dollar price index.

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10baggerbamm OP 72398975 : the US is a net importer we buy oil from other countries we don't export shit under Trump we were not buying from anybody and to give you an idea of what Trump's doing he picked up the telephone a week and a half ago and he told other leaders you will be buying our natural gas look what happened to the price of natural gas on one phone call look at the trend prior to the phone call for years and look what one phone call did to natural gas Trump is going to make the price of oil fall precipitously why he said so he says mark my words I guarantee you the first year oil will be down 50% you can take that to the bank

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72398975 10baggerbamm OP : well. I am not sure now lol , but I thought U.S. is not a net importer of oil ..

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