There was a broad sell off in energy stocks today because Bush wants OPEC to increase production for "American families" among other comments from the Saudi Oil Minister. This is probably a great entry point for a lot of energy stocks or maybe we should wait until Bush talks with the Saudi King and says something ridiculous.
P.S. I lost some money today so this might be a little biased but good article nonetheless.
Tuesday, January 15, 2008
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2 comments:
Bush did meet with the Saudi King Abdullah today, and did press on the quota increases, and was effectively shut-down. OPEC says this is because its not needed in the current market environment, others think its because, whatever they may say, they are already at full production. I believe the latter.
Sounds to close for comfort.
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