Dear fellow investors,
Desperado Why don't you come to your senses? You've been out ridin' fences For so long now
As a firm, we refrain from delving into politics and political debates. However, the climate change fundamentalists have put our body politic into an energy bind, exacerbated by Russia’s attack on Ukraine. They have moved oil from an economic discussion into a political football and are attempting to defy the laws of supply and demand.
On the one hand, highly respected folks have been urging that we sacrifice short-term economic benefits for the sake of a “clean energy” future. The other group, larger in number but smaller in financial might, are voters who are the average American folks President Biden grew up with. This is a very hard fence to “ride” when it comes to oil prices.
The campaign for “clean energy” has pushed ESG investing to the forefront of the worldwide investment markets. Unfortunately, it has run headlong into the moms and pops who vote in every election.
Oh, you're a hard one But I know that you got your reasons
The body politic has been “ridin’” this fence “for so long” that the lack of investment in fossil fuels and the demonization of the oil and gas industry finally caught up with us on March 31st of 2022. In desperation, we have potentially put our military defense at risk by releasing 180 million barrels of oil in our strategic reserve into the market. This is done to show that the body politic cares about average Americans who are paying higher prices at the pump. This is “a hard one,” but we know that they have “got your reasons.”