re: There’s more oil and gas than ever — and the industry is tanking

Anyone buying energy stocks right now is foolish. Until this enormous glut in supply clears up (when??) nothing is getting better anytime soon. Been this way for years (November 2014). I was always optimistic bc I was a perma-bull by nature but the last 5 years have beat me down to a pessimistic bear. There’s just too much oil available and too much money being thrown at drillers. We need more US independent shale producer bankruptcies until anything meaningful happens. API says we can expect EIA to report a 6 million barrel build tomorrow. The kinda good news is EIA reported a decrease in domestic production last week. Let’s see where it goes from here. Just do not know when the tide will finally turn, which is obviously the key point to any investment. Hopefully it’s soon for all our sake.

ETA: not saying youre advocating to go out and buy oil stocks, just incoherently ranting and frustrated. Wall Street/unrealistic corporate guidance got us all fricked up imo, maybe I’m wrong but seems like that’s been the problem