Big Oil Just Predicted the End of Oil

The news this week from one of the largest oil companies in the world may surprise you.

Well, perhaps the word “news” isn’t quite accurate…

I still remember sitting in a chemical engineering heat transfer class in the mid 1980’s. Our professor was an older gentleman who wanted to impart some “big picture” wisdom on this class of graduating seniors. He told us about M. King Hubbert’s paper on peak oil from almost 30 years earlier. With an almost religious zeal, our prof told us how oil reserves would soon grow scarce and to expensive too extract.

It turns out he was a bit early.

A New Strategy for Trading the Choppy Pre-Election Market Starts Now with These Stocks

Stocks are snapping back up today – which was expected after last week registered as the worst for the Nasdaq since late March. Dark Edge Project team members had the chance to grab a one-day 50% gain on an AAPL trade not long after the open. Want to know how? Click here to learn more about the Dark Edge Project.

We’ve seen moves like this before, when a minor rotation out of tech is followed by a huge snapback rally. After all, the economy is still hurting, Covid-19 is still loose, and tech is one of the few sectors still making money.

Of course, this past weekend’s headlines helped the broader market. Pharma giant Gilead Sciences Inc. (GILD) announced it’s buying biotech Immunomedics Inc. (IMMU).

Japan’s Softbank Group Corp. (SFTBY) said it’s selling chip designer ARM to Nvidia Corp. (NVDA) for a record $40 billion. Verizon Communications Inc. (VZ) is entering the value market by acquiring prepaid phone plan provider Tracfone.

Last but not least, the long-running saga of Chinese social media TikTok has reached a new phase. Microsoft Corp. (MSFT) and Walmart Inc.’s (WMT) joint bid for TikTok failed, while Oracle Corp.’s (ORCL) is moving forward.

Reports out of China suggest Oracle will be entering into a “partnership” with TikTok rather than outright buying it. We’ll see this week what that really means and whether it passes muster with the White House, which has been pushing for a sale of TikTok’s U.S. assets since the summer.

In short, the market reality is that there is still plenty of stimulus money in the system that’s still pushing things up.

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