The only certain thing is the loss of the time value (while trading options)
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Billionaire trader says “half the U.S. energy industry will be bankrupt in 6 months”
The End of Big Oil Is Here...
Billionaire trader says "half the U.S. energy industry will be bankrupt in 6 months"
At this moment, oil is caught in an absolute death spiral.
And a handful of billionaires are quietly dumping oil stocks at an alarming clip...
This mass exodus comes alongside oil's fall to an 11-year low, dipping below $35 per barrel for the first time since 2004, even lower than the 2008 financial crisis.
This situation is so severe that legendary billionaire energy investor John Arnold says "half the U.S. energy industry will be bankrupt in 6 months."
Warren Buffett dumped his entire Exxon position worth over $3.8 billion.
Bill Gates unloaded nearly $1 billion worth of oil stocks.
And George Soros couldn't get out of oil fast enough, selling off multiple positions...
Pundits would have you believe a temporary "global supply glut" is to blame.
They couldn't be more wrong...
The real reason is much more ominous and could push oil as low as $10 per barrel, completely decimating Big Oil and sending the broader markets into a full-blown collapse.
Enough fuel, in fact, to power the entire world for 36,000 years.
This fuel is so cheap, so easy to access, and so abundant that Fortune 500 companies - including Google, Apple, and Facebook - are investing billions to move into this technology.
At the same time, nearly every major energy player on the planet is shunning oil in favor of this new fuel. In fact, the U.S. Department of Defense just invested $7 billion in a single day.
And Saudi Arabia's oil minister, Ali Al-Naimi, says the country is investing $109 billion to bring this new fuel on line and could stop using oil entirely.
Please understand: This is NOT a temporary condition. It is the beginning of the end for Big Oil.
A member of the United States intelligence community, recognized for his work with Presidential citations from Presidents Nixon and Reagan, has stepped forward to reveal exactly how this "universal fuel" will enable America to declare complete energy independence for the first time in 40 years.
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Brazilian coffee farmers see current prices as insufficient to cover costs and have no intention of selling at the moment, despite a looming record crop, producers and market experts told Reuters. https://af.reuters.com/article/commoditiesNews/idAFL8N1QD3AH