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Wall Street Breakfast

WSB's The Weekend Bite: The State of Oil Or Lack Thereof With Michael Boyd

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 25 June 2022

⏱️ 15 minutes

🧾️ Download transcript

Summary

Michael Boyd from Energy Investing Authority joins us this week to discuss all things oil. Biden's 4-point plan, will gasoline prices come down, and two picks that he finds favorable that are ready to refine profits for shareholders.

Transcript

Click on a timestamp to play from that location

0:00.0

Hey I'm Daniel Snyder from Seeking Alpha. This is We Can Buy. Thank you for joining us.

0:04.0

And at this time of recording, AAA has said that the national gas average for a price of gasoline for a gallon is $4.94.

0:14.0

It makes you kind of wonder with everything going on in the oil

0:17.0

side of commodities in the world, where do we go from here?

0:20.0

Lucky for us today, we have Michael Boyd from Energy Investing Authority joining us today

0:24.6

Michael how are you I'm doing great how are you Daniel doing well I want to break down

0:29.5

there's so much unpacked right Biden came out just this week and talked about his four

0:32.9

point but before we get into that and get your take on that can you tell us what do

0:37.4

you think about what's the overall state of oil right now well I think the

0:41.4

important thing to remember with I mean mean, obviously the market is.

0:44.2

It's a rough time for every sector of the market, whether it's energy or tech or wherever you're looking.

0:49.8

But I think the big thing for investors to focus on if they're in the energy space.

0:53.6

If you go back you look at crude prices one month ago, three months ago where they are now,

0:58.2

it's the exact same if you look at natural gas is a similar situation if you look out in like 2003 on like on the future

1:04.0

script. So you know with company stock prices down quite a bit I think the big thing to

1:09.1

for investors to focus on is that the profit outlook for these companies really has not changed for

1:13.7

2022 and 2023. Yeah and we saw just the report came through that even Warren

1:20.0

Buffett is continuing to buy Occidental Petroleum stock. I mean it seems like there's a huge

1:25.5

bet still going on for oil to remain going to the upside whether it's you know not being able

1:31.0

to find a solution with the administration or anything else that's going on.

1:34.6

So kind of curious, I mean, is oil still pretty much the perfect investment for right now in this economy?

1:41.8

I mean, I think if you, it depends on how you feel about the

...

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