Subject: Re: Crudemageddon
steve, dont leave us hanging on trump's grand strategy...are you doubling new money into integrated supermajors now that oil < $90\b ?
when do we see start of sustained $140/b ?

I added 1000 shares of XOM last January. I have had similar positions in COP and CVX since the summer of 2024, when the Trump crowd was declaring it's dedication to the care and feeding of big oil. I am comfortable with my current allocation. Unlike during the Bush junta, when I put 100% of my IRA in big oil in Jan/Feb, and cashed in on the inevitable, and repeating, shortage/price hysteria every spring, before cashing out, this situation could reverse more quickly. Israeli elections could give everyone a big pooburger to eat by electing someone other than either of the two war parties, which would collapse the US' motivation for carrying on the war.

*****ripped from the headlines*****

Fri, May 29, 2026

‘Less Than $200 in Extra Gasoline Cost’: Scott Bessent Attempts to Quiet Economic Fears

During an appearance at the 2026 Reagan National Economic Forum on Friday, Treasury Secretary Scott Bessent, in an attempt to quiet fears on the economy, said that Americans were only facing “less than $200 in extra gasoline cost.”

“The war will end. We’ll get to the other side of this,” Bessent promised the crowd on Friday. “The economy has been very resilient through all this. You know, look — for many families, it’s not nothing. But, it’s been less than $200 in extra gasoline cost,”

Per CNBC anchor Steve Liesman on Friday morning, however, the war in Iran has cost Americans an extra $59 billion on gas, diesel, and jet fuel since it started in February.

He went on to emphasize that this year’s larger-than-expected tax refunds aren’t large enough to cover the extra gas cost for each American, with an average of $447 each in extra costs versus a $384 average refund increase — notably more than Bessent’s cited $200.

The CNBC anchor concluded, using Zandi’s estimates, that “if we go on the way we’ve been going, prices stay at the current level, it’s gonna be about a $2,000 hit per household” by the war’s first anniversary.

https://currently.att.yahoo.co...

Trump openly said he doesn't care what Proles pay for gas. We don't figure in his calculus at all.

Steve