Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
The oil and gas exploration and production companies, including ExxonMobil and Shell, issued warnings regarding third quarter earnings. During the quarter, oil prices declined by seventeen percent and refining margins contracted. These are short-term impediments to longer-term returns that will be boosted by the Middle East conflict and the shareholder-friendly capital investment policies of the majors.
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