• 3 minutes Natural gas is crushing wind and solar power
  • 6 minutes OPEC and Russia could discuss emergency cuts
  • 8 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 11 minutes Question: Why are oil futures so low through 2020?
  • 13 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 2 hours So the west is winning, is it? Only if you’re a delusional Trump toady, Mr Pompeo, by Simon Tisdall
  • 6 hours Peak Shale Will Send Oil Prices Sky High
  • 8 hours "Criticism of migration will become a criminal offense.  And media outlets that give room to criticism of migration, can be shut down." - EU Official to the Media.
  • 6 hours Fight with American ignorance, Part 1: US is a Republic, it is not a Democracy
  • 7 hours Charts of COVID-19 Fatality Rate by Age and Sex
  • 3 hours Oil and gas producers fire back at Democratic presidential candidates.
  • 5 hours CDC covid19 coverup?
  • 1 day “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 15 hours Democrats Plan "B" Bloomberg Implodes. Plan "C" = John Kerry ?
  • 1 day Who decides the Oil costs?
  • 1 day Blowout videos
Alt Text

Chevron To Buy Anadarko In $33B Deal

Chevron announced that it has…

Alt Text

Hated Energy Stocks May Be About To Rebound

Energy stocks are remarkably cheap…

Mad Hedge Fund Trader

Mad Hedge Fund Trader

John Thomas, The Mad Hedge Fund Trader is one of today's most successful Hedge Fund Managers and a 40 year veteran of the financial markets.…

More Info

Premium Content

Pick Up Big Oil While it is Still Cheap

I have always been an unfashionable person. I was still wearing my bell bottoms and mutton chop sideburns well into the eighties, and even today people laugh at my yellow power ties which are 30 years old. It’s all part of my living antique image.

To be consistent, I am remaining unpopular in my fascination with oil companies, which are now trading at multi generational lows, thanks to the errant ways of BP.

ExxonMobil (XOM) has stoked my interest further, announcing a blowout of a different sort today, with Q2 revenues soaring 24% YOY to $92.4 billion. Higher crude realizations, a new LNG project coming online in Qatar, and sharply recovering refining margins all contributed, enabling EPS to jump from $1.46 to $1.60.

I have followed this company decades before the 1999 merger with Mobile Oil, back when it was still the Standard Oil Company of New Jersey, have met various members of the founding Rockefeller family over the years, and helped guide their foundation into some early hedge fund investments.

David Rockefeller, John D.’s grandson and chairman of the Chase Manhattan Bank, once told me that I was one of 70,000 names in his rolodex.

This is the world’s most conservative company, and there is a reason why the Gulf blowout happened to BP and not to them. I think rising oil prices (USO) are going to be a major investment theme from here on, and that we will revisit $150/barrel oil sooner than you think.
My investment in an all electric, carbon free Nissan Leaf also anticipates this move.

I’m putting XOM on my “buy on meltdowns” list.

Courtesy: Mad Hedge Fund Trader




Download The Free Oilprice App Today

Back to homepage




Leave a comment
  • Anonymous on August 01 2010 said:
    What about OXY, APA, and my favorite CXO??????? They look good too, don't they??? Don't forget CVX as well.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News