1129: Fossil fuel bull market; & What is to be done? @LizPeek
Image: Technology from The History and Description of Fossil Fuel, the collieries, and coal trade of Great Britain. By the author of the Treatise on manufactures in metal in Lirdner's Cabinet Cyclopædia [J Holland] Elizabeth Peek, @LizPeek, Fox News and TheHill; in re: Oil is near $60; false trap, or are we coming out of the troubles? Covid and hospitalizations are diminishing, most people will have been vaccinated by July; a turnaround. Economy largely shut down, but may recover by September. Things are kind of coming in to place—raising questions about the $1.9 trillion stimulus—the economy doesn’t need that huge an injection going to couples making $175,000. The extra $400/week may seriously slow economic recovery as poor people realize they make more on unemployment than at work. Savings are high, net worth has increased. Oil wells today are short-lived. Biden can mess this up by bad policies cancelling Keystone pipe line. Cuomo will let cafes open—have dodged a $15/hr minimum wage. CBO report: Biden will cut 1.4 million jobs. People in charge think of this on racial lines. Play-acting from Cuomo, Newsom, et al. https://www.msn.com/en-us/money/markets/energy-stocks-could-surge-42-25-as-oil-prices-extend-one-year-highs-fundstrats-tom-lee-says/ar-BB1dxBrI