We gave Doug, who’s not in the O&G business, a video to watch and interpret in his own words. Here’s what he came up with…
- Things seemed to be in place for big oil (Exxon) to do well… they’re not. What happened?
- If you factor in Exxon’s $2 billion write off, maybe they ain’t doin’ too shabby after all.
- It’s tough for oil to rebound quickly after 2 terrible years.
- The Trump Administration is throwing a bunch of stuff against the wall to see what sticks in terms of policy.
- More government regulation is bad for oil, but you need some regulation, but not dumb regulation, smart regulation.
- In terms of investment in oil: The best offense if a good defense.
- Expect $60 a barrel to be the new normal.
Some highlights… (click here to play video)
:01 – :11 – With the Super Bowl coming up, put this host on the “all hands” team.
:18 – The first of many times Fadel Gheit hits the wrong syllable of a word.
1:00 – 1:47 While Fadel rambles on about oil prices, earnings, and percentages… it’s nice to see floating images of gas station signs and oil rigs on the left.
3:13 – Stuttering alert. Or a bad impression of the famous ESPN Sportscenter theme music hook.
3:35 – Use of the word “regulation” needs to be regulated.
3:56 – Fadel is apparently feeling The Super Bowl too as he wants to play defense.