Anybody Buying Yet? Where’s the Bottom?

[LWC55]

 

[Red-Team 98]

Saudi Aramco To Build $10 Billion Refinery And Petrochemical Complex In China.​

 

[SAJ-99]

Good luck with that investment. China has mandated 40% of vehicles sales are electric by 2030, and they are on pace to easily surpass that. And you have to hope China doesn’t just “emminent domain” that plant when they get the itch.

China: Nearly 6 Million Plug-In Cars Were Sold In 2022

Some 671,450 new passenger plug-in electric cars were registered in China in December, which is 32 percent more than a year ago and the best result ever.

insideevs.com

 

[LWC55]

https://twitter.com/x/status/1640143338299969538

 

[longbow51]

Looks like everyone is dropping rigs FYI, and gas prices are really going to put the hurt of folks who didn’t hedge.

It will be interesting to see what the summer brings but sitting here today I’m not bullish.

My family has been in the oil business in some capacity for a century. There has yet to be a bull market in O&G the drillers couldn't frack up.

And, sorry, Trump/Lake doesn't have a prayer with the independents, and even much of his base is unhappy with his nastiness toward DeSantis.

 

[AvidIndoorsman]

My family has been in the oil business in some capacity for a century. There has yet to be a bull market in O&G the drillers couldn't frack up.

And, sorry, Trump/Lake doesn't have a prayer with the independents, and even much of his base is unhappy with his nastiness toward DeSantis.

Also dems + green policy tends to drive up prices which is better for operators. I've gotten way more bonuses with democrats in office then republicans.

Trump was terrible for the industry, even pre-pandemic.

 

[rogerthat]

Also dems + green policy tends to drive up prices which is better for operators. I've gotten way more bonuses with democrats in office then republicans.

Trump was terrible for the industry, even pre-pandemic.

Don’t give away my secret. I have made a ton of money on this misperception over the years.

 

[longbow51]

I'll admit I do feel a bit bad about profiting from O&G the last couple of years while so many in the country struggle with high gas prices and all the spinoffs.

Still, poor is relative; better than child slaves mining for Green materials in Africa.

 

[Red-Team 98]

My family has been in the oil business in some capacity for a century. There has yet to be a bull market in O&G the drillers couldn't frack up.

And, sorry, Trump/Lake doesn't have a prayer with the independents, and even much of his base is unhappy with his nastiness toward DeSantis.

Split the vote and they both loose !

 

[Sytes]

This a red or green day entering the weekend?

Politics fug up a thread. Unless it's a political thread - which typically run their short lived course until locked.

 

[Sytes]

Rivian surprise:

Rivian Tops Tesla Gains In Premarket Trading: What's Powering EV Stock Higher?​

Today 7:42 AM ET (Benzinga)Print

Rivian Automotive, Inc. (NASDAQ: RIVN) shares are outperforming its electric vehicle peers, including market leader Tesla, Inc. (NASDAQ: TSLA) in premarket trading on Wednesday.
The upside could be attributable to the indication of likely broader market strength, going into the session. The stock could also be receiving support from positive commentary by Needham regarding the company’s first-quarter deliveries outlook.
Kelley Blue Book sales data gathered from the state Registry of Motor vehicle showed registrations of 8,145 Rivian vehicles in the first quarter, analyst Chris Pierce said, citing information from Cox Auto’s first-quarter 2023 “Industry Insight Calls.” This compares to the consensus estimate of 7,167 vehicles, he added.
The analyst also noted that first-quarter used vehicle data showed that fewer used Rivian vehicles were on sale relative to Lucid Motor Group (NASDAQ: LCID) and Ford Motor Co.’s (NYSE: F) Lightning EV pickup truck, which is a direct competition to Rivian’s R1T pickup truck.
Needham has a "Buy" rating on Rivian and a $26 price target for Rivian shares, suggesting 100% upside potential.
In premarket trading, Rivian stock climbed 2.85% at $13.33, according to Benzinga Pro data. Tesla (NASDAQ: TSLA) rose 1.70% to $192.41.
Check out more of Benzinga's Future Of Mobility coverage by following this link.

 

[BigHornRam]

Kinda reminds we of the guy who says “I got arrested by the game warden for not having a blaze hat on”…

I mean sure… but I imagine 80% of the story is missing, such as dodging the IRS for a few years, refusing to respond to mailings, yada yada yada.

If you file a Schedule C hire a CPA and let them deal with the audit liability.

How about a visit from the IRS the morning you are going to testify concerning government over reach? Weaponization of the IRS needs stop now. IRS needs a good house cleaning, not $80 billion more in funding.

The IRS Makes a Strange House Call

Democrats are denouncing the House GOP investigation into the weaponization of government, but maybe that’s because Republicans are getting somewhere. That includes new evidence that the Internal Revenue Service may be targeting a journalist who testified before the weaponization committee.

judiciary.house.gov

 

[noharleyyet]

How about a visit from the IRS the morning you are going to testify concerning government over reach? Weaponization of the IRS needs stop now. IRS needs a good house cleaning, not $80 billion more in funding.

The IRS Makes a Strange House Call

Democrats are denouncing the House GOP investigation into the weaponization of government, but maybe that’s because Republicans are getting somewhere. That includes new evidence that the Internal Revenue Service may be targeting a journalist who testified before the weaponization committee.

judiciary.house.gov

 

[AvidIndoorsman]

How about a visit from the IRS the morning you are going to testify concerning government over reach? Weaponization of the IRS needs stop now. IRS needs a good house cleaning, not $80 billion more in funding.

The IRS Makes a Strange House Call

Democrats are denouncing the House GOP investigation into the weaponization of government, but maybe that’s because Republicans are getting somewhere. That includes new evidence that the Internal Revenue Service may be targeting a journalist who testified before the weaponization committee.

judiciary.house.gov

Guess you're right, refunds in October for everyone

 

[BigHornRam]

 

[LWC55]

Guess you're right, refunds in October for everyone

You pick a strange way to call out witness tampering by the government.

 

[AvidIndoorsman]

You pick a strange way to call out witness tampering by the government.

Throwing baby out with the bath water, there have been issues with US troops on foreign military bases, I'm not going to call for defunding the US military.

 

[LWC55]

Throwing baby out with the bath water, there have been issues with US troops on foreign military bases, I'm not going to call for defunding the US military.

My understanding was the $80 billion was an increase in funding. BigHornRam was calling for not giving an additional $80 billion in funding and to clean up an IRS that is obviously weaponized against those who criticize the government narrative. Doesn't seem like too much to ask. Unless you agree with those tactics.

 

[AvidIndoorsman]

My understanding was the $80 billion was an increase in funding. BigHornRam was calling for not giving an additional $80 billion in funding and to clean up an IRS that is obviously weaponized against those who criticize the government narrative. Doesn't seem like too much to ask. Unless you agree with those tactics.

The IRS has a massive backlog, needs to be modernized and given the amount of cyber fraud going on I think it's prudent to have that agency well fund with the tools it needs to carry out it's mandate.

I obviously don't approve of any government agency being used to suppress freedom of speech or any other constitutional right regardless of whether or not I agree or disagree with the politics of that person or group.

These two positions are not mutually exclusive and linking them is a false narrative.

 

[LWC55]

The IRS has a massive backlog, needs to be modernized and given the amount of cyber fraud going on I think it's prudent to have that agency well fund with the tools it needs to carry out it's mandate.

I obviously don't approve of any government agency being used to suppress freedom of speech or any other constitutional right regardless of whether or not I agree or disagree with the politics of that person or group.

These two positions are not mutually exclusive and linking them is a false narrative.

$80 billion budget increase will likely make the IRS do their job more efficiently and act less corrupt. Couldn't think of a better way to increase productivity.