Paul Meyers, Legacy Wealth Management, gives an outlook on the oil industry’s 2021 as well as the recent production numbers from Texas and the Bakken.
Meyers also opines that oil and politics should be separate, citing North Dakota Department of Mineral Resource director Lynn Helms’ implied political endorsement during his last Bakken production briefing.
“I was very surprised to see Lynn Helms, who holds a pretty big position in terms of our natural resources in the state of North Dakota, saying that oil production is really all about the political aspect of the general election coming up. I was very surprised to hear him say that,” Meyers said.
He continued his editorializing regarding Helm’s comments and the relationship between energy and politics in North Dakota.
“It tends to perpetuate a trend of politicization of of the oil industry. I think we’ve gone too far in that direction,” Meyers said.
According to Meyers, these are the types of comments that can influence markets and company planning as we enter 4th quarter.
Meyers also mentions a few tips for people looking at energy stocks in 2021.
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