Just Sittin' And Watchin' Tankers Roll In And Roll Away, Again -- December 12, 2019

Peak oil? What peak oil? The only problem now? Not confusing Ghana (west coast of Africa) and Guyana (east coast of South America).

Ghana: 1.5 billion bbls of oil discovered offshore Ghana. Meanwhile, the Bakken will produce 1.5 billion bbls of oil in less than 2.5 years.

Guyana: why Exxon's stock could hit $100 in 2020. Bank of America Merrill Lynch has tapped XOM as its top 2020 stock pick, arguing that the stock could surge 47% as production ramps up and growth accelerates.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

Timeless, sittin' and watchin' the oil tankers roll in and then I watch them roll away again :s

Sittin' On The Dock Of The Bay, Otis Redding
This tells me all I need to know about how serious folks take global warming: European Central Bank will likely decide "reviving" inflation is more important than fighting climate change. From Bloomberg. The news organization that has banned investigative reporting on some candidates.

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From Yesterday

Re-Posting With Expansion

Two big observations regarding the news yesterday. Like him or hate him, Trump is proven right (again).

First: Trump was right about James Comey. He had every right to fire him. Should have been done sooner.

Second: Trump was right about "the Fed." The chairman said as much during the press conference Q&A  when he said he/they made a mistake by raising rates earlier; not cutting them soon enough. That's exactly what Trump had said all along. 

Pretty remarkable. I doubt mainstream media will pick up on these two observations.

In addition, three comments on this story, why one investor is not concerned about Warren Buffett sitting one $130 billion in cash.  One observation regarding the story; and two observations regarding the comments. Fifty comments at the linked story so far.

• malarkey: that he's sitting on $130 billion in cash to cushion a possible implosion of the stock the day it's announced he or Charlie Munger is in the hospital
• foolish: if that $130 billion is only earning money market rates, he is an incredible foolish investor; he always says he "bets" on America and there are plenty of great American companies paying much more than money market rates
• idiots: I can't believe all the folks commenting about preparing for the recession that's right around the corner. A recession can't possible happen any earlier than 2H20, and does anyone really think Trump will let the economy contract during his re-election campaign; he controls the timing of the Chinese tariffs and that's the third pillar of the three-legged stool driving this market. [Later, there is it -- on CNBC this morning, December 12, 2019 -- survey of US CFOs -- consensus -- recession in 2020. Okay.]

Liquidity, the banks, and the Fed: what sector needs more cash than ever? And what sector is least likely to get more cash from banks. Hint: same sector in both cases. 

Trading. On another note, I've never had so much fun as now, after Schwab lowered commission fees .... to $0.

Disclaimer: this is not an investment site.  Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here.