Guest “Now that’s funny, right there” by David Middleton

Feb 24, 2021 – Energy & Environment
Oil stocks are destroying clean energy in 2021 after years of lagging behind

Dion Rabouin, author of Markets

Over the past two years, electric vehicle and emerging renewable technology stocks have soared as investors priced in the transition away from fossil fuels, but so far in 2021 that narrative has reversed.

By the numbers: XOP, an ETF that tracks the largest U.S. oil and gas companies, has gained nearly 40% so far this year as oil producers like Diamondback Energy and Occidental Petroleum have seen their shares jump by more than 50%.


On the other side: Clean energy has suffered, led by the swoon of 2020’s world-beating stock, Tesla, which has dropped into “bear market” territory having fallen by 20.6% from its last record high on Jan. 8.


The big picture: Tech companies have broadly seen a turndown so far in February, but renewable energy companies have fared much worse. ICLN has declined 7.1% this year, while the Nasdaq Composite is up 4.5 % and the Nasdaq 100 is up 2.4%

The last word: The 2021 malaise is happening despite good news for the industry coming into the year: President Biden is expected to increase renewable energy investment in the U.S., oil prices are rising, and early estimates of global 2020 EV sales jumped to more than 3 million, reaching a market share of 4.4% — almost double 2019’s 2.5% share.


I have my own pet theory as to why, oil stocks have suddenly surged, while the green schist has tanked.

“Buy the Rumor, Sell the News”

Buy the rumor, sell the news is a market adage based on the belief that stock prices move in anticipation of rumors and rebound when profit taking occurs after the actual news is released.


Meme Generator... Note to SJW fact checkers: This is a meme! This is not actually the dialogue from The Godfather. Bonasera (Salvatore Corsitto) did not whisper, “Don… Buy the rumor, sell the news” into the ear of Don Vito Corleone (Marlon Brando) in The Godfather.

The Rumor

The “rumor” was that if President Donald Trump was defeated by a Democrat in 2020, the new administration would finish off the oil & gas industry and save the planet with a Warp Speed Moon Shot clean energy pogrom.

The News

The “news” was that the November coup d’état delivered dementia-ridden Joe Biden, who often doesn’t know where he is, and the even less competent Vice President Harris to finish off the oil & gas industry and save the planet with a Warp Speed Moon Shot clean energy pogrom.

The Axios article compares two Exchange Traded Funds (ETF’s):

I made my own chart of XOP & ICLN on the MarketWatch website:

XOP (blue) and ICLN (black) year-to-date performance.

In terms of year-to-date performance, the two funds were neck-and-deck right up to the first full day of Harris-Biden Dominion.

XOP actually took off right after Election Day:


XOP took off because that’s also when oil prices took off…


Oils Well That Ends Well

Nyuk, nyuk, nyuk!

Additional Notes to SJW Fact Checkers:

  • Learn to recognize sarcasm
  • The following words/phrases were used sarcastically (sort of):
    • coup d’état
    • dementia-ridden
    • Harris-Biden Dominion
    • pogrom
  • If you’ve ever fact-checked The Babylon Bee, you might be an idiot.
  • If I have to tell you when I’m being sarcastic, there was no point in being sarcastic… It works the same way with memes.
  • No. I can’t prove that Joe Biden caused oil prices to rise, but at least I’m giving him credit for something.
  • Yes, I know that Curly Howard was not in Oils Well That Ends Well. He was dead at the time. Joe Besser was the fat guy and he did not say nyuk, nyuk, nyuk… I am fat, I can say fat!

Who remembers this classic?

Woob, woob, woob, woob!

via Watts Up With That?


March 2, 2021 at 12:06PM