Exxon Is Up $314 Billion...We're Screwed...
发布时间 2022-07-08 19:00:07 来源
摘要
Ever since the pandemic started, oil companies have been struggling to make a profit as demand jumped off a cliff basically overnight. But, over the past several, things have actually looked better than ever for oil giants like Exxon who are up $314 billion. This is all thanks to skyrocketing oil prices due to inflation, the Ukraine war, surging demand, and speculation from Wall Street. While this has been a blessing for struggling oil companies, this is a curse for GDP because consumer spending, investing and government spending are all on the decline. And given that a recession is simply two successive quarters of GDP decline, it seems likely that we’re already in a recession. Every recession has not been correlated to a spike in oil prices, but every spike in oil prices has been associated with a recession. So, this is definitely not the most promising of signs. But, while we may be in for a recession and rising unemployment, there are some brights sides to a recession. For example, the investing world is cleansed of unfit companies and we investors will get a splendid buying opportunity. This video explains the consequences of skyrocketing oil prices and why that might very well drive us into a recession.
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Timestamps:
0:00 - The State Of Exxon
1:11 - Why Is Oil Mooning?
4:28 - Economic Hardship
7:16 - Recession Indicator
9:20 - The Light At The End
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