What else are they after?
Take a look at the coal industry. It’s being decimated right now. Look at who’s offering to pick up those companies for pennies on the dollar at bankruptcy auctions, especially companies in the Powder River region of Wyoming.
Also, keep an eye on natgas drillers and developers. They’ll be the next targets.
And then again, with oil, look at how much oil we have in storage vs. demand. The market adjusted to high fuel prices, and now supply has outstripped demand. Oil companies want to open up exports to bump the price up. So why are we still importing oil if we can’t burn through the glut that we’re currently sitting on?
And why are we still letting OPEC set the price if we don’t need their product, and we’re sitting on a glut of domestic oil?