Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Our oil and gas majors portfolio is supported by a long-term investment thesis related to a prolonged transition to renewable energy (see https://therabidcapitalist.com/2024/06/21/fossil-fuels-are-setting-demand-records/). It also serves as geopolitical risk insurance. The insurance benefit was on display yesterday when Iran fired two hundred ballistic missiles at Israel.
Historical oil prices have been sensitive to conflict in the Middle East.
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