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(Responding to my other post)
https://www.zerohedge.com/commodities/very-crooked-numbers-biden-admin-accused-fabricating-gas-demand-data-hammer-price-oil
$XOM $CVX $COP $CPE $LPI $FANG $APA
- Increases taxes on offshore oil & gas rigs
- Although in theory it opens up more federal lands for drilling, it does nothing to eliminate the mountain of red tape. This means that the govt can still use all sorts of tricks to stall or deny drilling.
This bill is similar to the SPR releases. It's 100% politics and will likely result in higher energy prices.
It is oversold
The RSI says ABC
The chart pattern says XYZ
The analysts say oil to 120
The dividend is great
and my favorite - TO DA MOON
That sort of stuff.
"Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate edged down to 3.5 percent. Both total nonfarm employment and the unemployment rate have returned to their February 2020 pre-pandemic levels."