There is one bright spot
Normally about 600 billion is spent on oil search and infrastructure per year
But due to the uncertainty only about 260 billion spent
They say the normal growth will out strip supply which includes shale oil
There is always the chance of a middle east scuffle
Uranium is going thru a similar scenario .. low price .. Mines closing .. But in a few years new reactors to be turned on
I have another oil share CVN
It has discovered sh#t loads of oil and gas .. AND whoopy do .. The SP keeps falling .. Oil not the flavour of the month .. EGO suffers also because of it
Nothing you can do about it
Time . Patience
EGO Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held