Posted By RichC on June 21, 2017
While the economy slowly improves and Wall Street waits with anticipation for congress to act on tax reform and in particular tax cuts that will bring the corporate tax in the U.S. in line with the rest of the world, oil companies continue to struggle. Obviously we’re still using oil … but the "glut" is just too big for companies to reward shareholders with steady enough profits. Those holding "big oil" like Exxon, Chevron, BP and Marathon are getting crushed. At what point does demand and supply get balanced … and at what point do oil companies slow down production in order to keep oil prices from falling further?